As December sets in, it is the time for campus placements to begin at the famous Indian Institutes of Technology, IITs. Seen as the barometer that measures the growth of Indian tech, IIT Placements often invoke curiosity in a much larger audience. The packages received by IIT graduates both invoke envy but also a sense of understanding as to where the Indian tech sector is headed. And this year’s placement season has started with a bang!
Not only are some of the bigwigs ready to dole out large packages to the top talent, but they also (American tech giants) are pulling out all stops to woo them. Some have even gone a step ahead from offering SOPs to buying billboards at strategic locations in front of IITs and in tech hubs to assure talent of all assistance.
Big Companies Come with Big Packages, Some Over ₹2 Crore
Reports have started to flow in. As per the early reports, big AI firms, HFTs, Quants as well as Tech Giants are all lining up for the best talents at IITs. A report also shared that Quants and HFTs are willing to pay a package as high aa INR 2.6 crores. An average payout from these is expected to be upwards of INR 85 lakhs.
What’s more. The recruiters are from all over the world. Some of the top recruiters are looking for talents for their global hubs in Palo Alto, Tokyo, London, Singapore and Hong Kong. Allegedly, Quantbox Research and Da Vinci Trading have come with offerings of 1.4 crore and 2.6 crore packages this time.
But its not merely the international players. Home grown startups are also lining up with the hopes to get their teeth into the pie. Companies like Samsara Inc. are allegedly willing to offer of package between ₹45 lakhs to ₹1.4 crore for the right talent. Even Start-ups and consumer tech are setting up hopes. Meesho and Zomato are both willing to offer packages in the range of ₹50 lakhs for top talents at different IITs.
H1B Fears and IIT Placements
Whether it is a coincident or design is for all to see. But as the placement season started, billboards appeared in front of IITs. Seen and reported, billboards in front of IIT Delhi from Metaview are going all out to lay out the red carpet for the students.
Assuaging students over rising concerns over H1B visas, the billboard reads, “Yes, we still Sponson H-1Bs. No, AI won’t build itself.”
What’s more, the billboard further says, “$100K isn’t going to stop us from hiring the best.” Check it out below. Similar billboards were seen in Bangalore, Bombay and Hyderabad.
Needless to say, it is still early days. However, the exuberance showcased by companies to hire IITians is a good sign for the Indian tech industry. It goes on to further instil confidence in our top institutes.
Economically, the placements also set in motion the overall hiring trend and sentiment of India Inc. Strong intent on AI skilling also highlights that AI may be a bubble but its far from ready to burst.