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Computers - IT Software
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Top international recruiters Facebook, Oracle and Google have rolled out at least 40 offers with total compensation packages higher than Rs 1 crore at the end of only the second day of IIT campus placements, according to campus sources.Such a large number of crore-plus offers — including cash and stock — are being offered for the first time. Oracle is leading the charge, offering up to 4,800 stock units worth $200,000 (Rs 1.24 crore), besides a $125,000 (Rs 77.5 lakh) cash component. Sources from IITBHU (Varanasi) confirmed these figures.Sources from IIT-Delhi, IIT-Roorkee and IIT-Kanpur said some 4,000 stock options had been indicated as part of the overall package by the American multinational computer technology corporation.Google, for Mountain View postings, rolled out a salary of $130,000 (Rs 80.4 lakh) and 250 stock units worth approximately $134,500 (Rs 83 lakh), IIT-BHU officials said.The institute added that one student has been selected by Oracle US, and another for Google US.Average domestic salaries at IIT campus placements this year have been in the range of Rs 10-12 lakh. Placements at the older institutes started on December 1.Stock options are typically rolled out by companies as a retention measure and are often vested only after employees remain with the company for a specified period.As already reported by ET, Facebook has made offers of $250,000 (Rs 1.55 crore, all-inclusive) to students at IIT-Bombay, IIT-Kharagpur and IIT-Delhi.A student at one of the IITs who bagged an offer from Oracle said it was communicated to him that he would get a $100,000 base pay, $15,000 joining bonus and $10,000 relocation allowance.I was intimated that over and above this, there was also a stock component which I would get to know in the offer letter, he said.While IIT-BHU has information on the stock options offered by Google, other placement cells said the search engine giant has not yet communicated the relevant numbers to them. However, they said Google would have a stock component in its package and Microsoft was also likely to have the same. ET could not independently reach out to Google at the time of going to print.
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Source : ET
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