Day I of IIT-B sees top offer of Rs 80 lakh, proving IITs are not among the institutes to suffer..


Day 1 of placements at the premier IIT-Bombay on Saturday ended on a high note for many. It was evident from the status on Sriram Bhargav's Facebook page that read "placed at Samsung US/Korea". The firm is believed to have made the highest offer this year of around US $1,50,000 (Rs 80 lakh) per annum. Deepankar Reddy from the institute's computer science and engineering department was also hired with one of the highest packages at Rocket Fuel. Sagar Chordia and Saif Hasan, computer engineering students, will go on to join Facebook.

Hasan, who is from Kanodar in north Gujarat, and Sagar from Pune are both among the top rankers of the department. Hasan developed the Facebook photo downloaded which he developed in the Hack night competition. Sagar, who is also studying statistics at the Powai campus, went through 4 rounds of intense interviews by Facebook before they were hired.

On his Facebook page, Sagar noted "Day 1 of IIT-B placements ... 18 hours of interviews ... offer from five companies ... accepted Facebook's full-time job offer...happy life!"

The social networking company has offered students a base salary of $ 100,000 and a bonus and relocation bonus of $ 20,000 and stock options of $ 120,000 if they stick on for two years.

Twitter, a first-time recruiter on the campus, has also made two offers. LinkedIn has made three, while algorithmic trading firm Jump Trading has not hired a single student from the campus. Samsung India has taken at least half a dozen students from the campus. Around 160 offers have been made on Day 1 of the placements, up from last year's 140.

While 35 firms visited the campus on Saturday, 29 had come to hire on Sunday. If the salary offers made by the firms this year is anything to go by, IITs are not among the institutes to suffer.

This year, the number of registered students has increased. Last year, they had closed to 1,200 students, this year, around 1,300 have registered for campus placements. Avijit Chatterjee, professor-in-charge, of placements, said, "Not all are hired in campus placement. Some are hired off campus and some continue with their higher studies."

On the second day too, big firms continued to pour in at the campus placement's office. Yahoo, Barkley, Amazon, Adobe, Oracle, etc were some of the firms that hired students on Sunday. On Saturday and Sunday, interviews continued to take place till post midnight. The sessions will continue for the next two days.

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