KOLKATA: A month into final placements, a US-based tech major has offered a top salary of $137,000 (Rs 98.3 lakh) at BITS Pilani University, a 122% jump over last year’s highest of €53,000 (Rs 44.2 lakh) from KPIT Technologies.
Around 10 international offers, from the likes of Rubrik (US), Uber (US) and KPIT (Germany) were made in the first month alone, compared with none at the same time last year. The 2017-18 season closed last April with 10 overseas offers, a tally that’s already been beaten in a month.
At Delhi Technological University (DTU), more than 75 students have got packages of Rs 20 lakh-plus, compared with around 45-50 in the corresponding period last year.
Top engineering colleges that aren’t part of the Indian Institute of Technology (IIT) system are reaping the benefits of an upbeat hiring scenario. BITS Pilani University, DTU and NIT Warangal, among others, are seeing top packages soar as recruiters descend on campuses with bigger offers than in recent years.
Most of these colleges go into final placements by July-end and August before the older IITs, which start in December 1.
At BITS Pilani, the number of offers so far across its Indian campuses has jumped 17.1% to 450 in the 2018-19 academic year from 384 in the year earlier. “Preplacement offers grew by 43.1% with 126 in academic year 2018-19 compared with 88 offers last year,” said G Balasubramanian, chief placement officer, BITS.
DE Shaw offered the highest domestic salary at Rs 45 lakh per year, a growth of 13.9% over AY 2017-18. The New-York headquartered investment management firm —a prominent recruiter on campus — has so far made 18 preplacement offers and 15 fulltime offers in non-IIT campuses in the 2018-19 hiring season. It is yet to visit four non-IIT colleges for final placements. DE Shaw, which hires from the country’s best engineering colleges including the IITs, NITs, BITS and IIITs,recruits primarily for the roles of quant developer, software developer, systems operations engineer and quality assurance.
“We are extremely focused on hiring top talent and we work hard to ensure we are successful and competitive in the marketplace,” said Lakshmi Prasad Koneti, director, information technology, and operating committee member at DE Shaw India.
With a Rs 47 lakh package at NIT Warangal, DE Shaw is also the top recruiter at the institute, where Adobe offered the highest package of Rs 40 lakh last year. More than 30 companies have visited so far and made 240-plus offers.
“We are getting many more companies offering CTCs (cost-to-company) of Rs 10 lakh-plus,” said Chintham Venkaiah, faculty in charge, training and placement section at NIT Warangal.
Campus sources told ET that placements are expected to be much better this year. Companies are more bullish on hiring, foreign offers are on the upswing and there are more recruiters offering attractive packages. “Market demand for emerging technologies, strong summer internships and an optimistic IT and electronics market are all fuelling the growth,” said Balasubramanian of BITS.
“The sentiment is extremely positive,” agreed Rajesh Rohilla, head of the department of training and placement at DTU. One of its students has landed a Rs 52 lakh top foreign offer for an IT profile, up 33% from last year’s highest offer from Adobe, he said. According to placement officials across institutes, some of the companies offering Rs 24 lakh-plus packages include Myntra, Amazon and Flipkart. Goldman Sachs is offering salaries of more than Rs 30 lakh, while Microsoft, DE Shaw, and Uber are offering Rs 35-40 lakh.
Uber declined to give details on the number of recruitments but said that its engineering team in India continues to grow. It hires from a number of technical education colleges across India including BITS campuses, NIT, DTU and, given the focus on scaling up engineering operations in India, also visits new campuses every recruitment season.
“Technology is the core driver of Uber’s vision,” said Vishpala Reddy, regional HR director, APAC, Uber. “Fresh recruits from technology schools have a strong impact on an organisation’s ongoing projects with new and diverse ideas. As a tech organisation, we are always looking for talent to sustain innovation and disruption.”
At Sardar Vallabhbhai National Institute of Technology (SVNIT), Surat, the top salary so far is Rs 33.5 lakh from DE Shaw.
New recruiters lined up this year include Amadeus, Credit Suisse and GEP. Packages from visiting companies start at Rs 7 lakh with the bulk of them offering salaries of over Rs 8.5 lakh, said PG Agnihotri, professor in charge, training and placement section.