India: Global corporations expected to make crore-plus offers at IIT-Bombay amid economic slowdown
Indian Institute of Technology-Bombay
Even as the economic slowdown comes to bite corporations and businesses worldwide, the upcoming placement season at the Indian Institute of Technology- Bombay (IIT-B) is likely to see several crore-plus ($120,000+) job offers.
As per a report by the Times of India, students at the IIT-B are hopeful that crore-plus offers will be coming fromDa Vinci Derivatives, Hudson River Trading, Glean Technologies, and Barclays, among others.
Expected offers
Da Vinci is expected to make a 1.3 crore offer for a domestic profile. Hudson River Trading, which is visiting the campus for the first time, is expected to offer a 200,000 Singapore Dollars package for a Singapore role.
Glean Technologies is also expected to make a $125,000 offer during the placement season. Meanwhile, Barclays is offering a role in Hong Kong, with a package of 11 lakh Hong Kong dollars.
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It must be noted that these details are based on job application forms and the companies may or may not make these offers. Any decision is taken only after conducting interviews at the campus.
The interview season is expected to start on December 1.
Last year's recap
A total of 384 companies participated in the placement process last year at the IIT-B, resulting in the placement of at least 1,500 students.The highest domestic salary stood at Rs 1.7 crore, and the highest international offer was Rs 3.7 crore. A total of 16 crore-plus offers and 65 international offers were accepted.
Jane Street Capital, a trading firm headquartered in New York City, made the highest offer last year of 3.7 crore Indian rupees. The company is participating this year too, with a student saying, "Jane Street usually hires students through internships."
The average salary last year stood at 21.8 lakh Indian rupees.
(With inputs from agencies)