US technology giant Microsoft is likely to offer the highest pay package at the Indian Institutes of Technology (IITs), where final placements starting Friday will see companies slugging it out for the cream of engineering talent from the Class of 2018.
According to campus sources across top IITs, the company is likely to offer about Rs 1.39 crore per year for jobs at its Redmond headquarters. The total package of $214,600 will comprise a base salary of $108,000, performance bonus of $21,600, joining bonus of $15,000 and restricted stock units worth $70,000. This marks a sharp increase from last year when Microsoft offered a total package of $136,000 inclusive of base pay ($106,000) and other variables and stock options for roles in Redmond.
US-based cab aggregator Uber Technologies, another big-ticket recruiter, is offering a base pay of around $110,000, but lower bonuses and stock options compared with Microsoft, which puts its total package at about $155,000 (Rs 99.87 lakh).
These packages may be offered at the Kanpur, Mumbai, Chennai, BHU (Banaras Hindu University) and Roorkee campuses at least, said placement sources. However, final packages may be higher in some cases, based on the keenness of companies to get certain students on board. Microsoft did not reply to questions from ET.
Uber declined to comment on compensation details. Besides international offers, the company, which is participating in the first slot on Day 1 at IIT placements, told ET that it is looking to increase the number of hires from last year for various functions within the country.
“As we strengthen our footprint in India, our focus on bringing the best minds on board becomes more important than ever before,” said Vishpala Reddy, chief people office at Uber for India and South Asia in an email.
“This year we are visiting eight IIT campuses — Delhi, Chennai, Kharagpur, Roorkee, Guwahati, BHU, Mumbai, Kanpur,” said Vishpala Reddy of Uber.
Samsung Korea, which recruited through the pre-placement offer route at certain campuses, is offering around $150,000 (Rs 96.8 lakh), said placement team members. US-based cloud data management company Rubrik is paying around $115,000 (Rs 74 lakh).
Apart from them, other companies offering high domestic packages include Tower Research (Rs 32-42 lakh), depending on the profile.
Oracle, which has traditionally figured among the companies paying top dollar for international roles, has focused on local jobs this time around because of visa issues, said an IIT placement source. “They are paying around Rs 23 lakh,” he said.
While pre-placement offers have seen a rise across IITs this year spelling good news for the institutes even before they went into placements, most have invited a number of new recruiters to ensure that hiring momentum is maintained.