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IIT Madras: 25 students receive offers of $123K on Day 1 of placements

WION
Chennai, Tamil NaduWritten By: Sidharth MPUpdated: Dec 02, 2022, 12:35 PM IST
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IIT-M sees higher job offers than last year. Photograph:(WION)

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Notably, the recruitment processes in 2020 and 2021 have been done via virtual mode, owing to the pandemic 

The first session of the Day 1 of placements at IIT-Madras in Chennai, has led to 25 students receiving offer letters with pay packages of over $123K (Rs.1crore). According to the institute, the total number of offers (445) received at the end of Session 1 on Day 1 this year, is 10% higher than (407) offers received last year.

In terms of International offers, 15 offers from four companies were received this year, as against 11 offers from four companies at this time last year.

The 445 job offers received on December 1 including the pre-placement offers (PPOs) that the students received following their internships with various companies. 

However, there is a decline in the number of firms registered for Phase 1 recruitment and the number of profiles they are recruiting for, compared to 2021. While 331 firms have registered this year for recruiting 722 profiles, there were 382 firms and 738 profiles last year. This could possibly be a reflection of the industry scenario in the Western world where Big tech firms have announced massive job cuts and a freeze on hiring. 

Notably, the recruitment processes in 2020 and 2021 have been done via virtual mode, owing to the pandemic. In the pandemic year 2021, 1498 students had registered for placements, whereas 1722 have registered for placements this year, which are being conducted in the hybrid mode.

In 2021 and 2022, the main recruiters at the Institute have been Microsoft, Flipkart, Texas Instruments, Bajaj Auto, Goldman Sachs, Boston Consulting Group, JP Morgan Chase & Co etc. The phase 1 of placements are expected to go on till 7th December. 

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