Record Rs 3.6cr offers to 3 from Delhi, Bombay, Madras IITs for Hong Kong posting | India News

MUMBAI: Hong Kong and Singapore seems to be the destinations where IITians are heading to this placement season, with most big-ticket offers being offered by trading firms there. Jane Street, a quantitative trading firm, has picked at least one student each from IIT-Bombay, Delhi and Kanpur for its Hong Kong office for a record package of Rs 3.6 crore.
These, however, were made as pre-placement offers (PPOs) before the season kicked off on December 1.
Another high-frequency trading firm Quantbox Research has made an offer of Rs 1.6 crore at multiple IITs for its Singapore office. Recession-hit US has seen fewer IT giants making the big crore-plus offer on these premier campuses, though some like Cohesity have on-boarded students for domestic roles and promised to move them to the US a year later.
“While Jane Street has the highest offer made to one IIT-Bombay student, there are other PPOs that have made offers to students of close to Rs 2 crore,” said a source at IIT-B. On-campus job offers have not touched the Rs 2 crore mark. “There are several Rs 1 crore job offers and there are 15 companies with international locations, but most are onboarding students in their India office because of the US and Japanese visa problems,” said another source. Quantbox Research had offered a role for Rs 1.6 crore.
On the first day of placements, IIT-Bombay had 46 companies interviewing candidates either online or in-person. Of the 250 job offers on Day 1, more than 175 were accepted. On Day 2, a total of 48 companies were at IIT-B. At IIT Guwahati, Day 2 saw 50 companies lined up to hire talent and a little more than 80 offers were made till 6 pm.
At the end of Day 1, a total of 519 offers were made at IIT-Kanpur. This number included 207 PPOs offered till date. Day 1 saw 488 students securing jobs through acceptance of PPOs and placement offers. The highest package so far this year domestically is Rs 1.9 crore, while there are a good number of packages from international recruiters as well. Last year, the highest domestic package was Rs 1.2 crore. In all, 33 offers above Rs 1 crore have been received. So far, a total of 72 international offers have been received by IIT Kanpur this season, as compared to 47 last year. Quantbox Research also visited IIT-Kanpur.
At IIT-Kharagpur, the highest package of Rs 2.6 crore was again offered by a trading firm. The institute had 16 international offers from across sectors on Day 1, and a total of 760 offers were secured, including pre-placement offers.

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