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IIT Madras student bags Rs 4.3 crore job offer; here's how much package other IITs gave this year
The final placement process began on Sunday at the prominent IITs, including Delhi, Bombay, Madras, Kanpur, Roorkee, Kharagpur, Guwahati, and BHU.
Updated : Dec 03, 2024, 07:42 AM IST
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In a significant development for the placement season at Indian Institutes of Technology (IITs), a student from the Class of 2025 has received an impressive annual salary package exceeding Rs 4.3 crore from Jane Street, a popular trading firm based on Wall Street. This offer, which includes a base salary, fixed bonus, and relocation benefits, establishes a new standard for IIT placements this year.
The high-frequency trading firm has extended a pre-placement offer (PPO) to a computer science and engineering student at IIT Madras, who previously interned with them. According to two placement sources reported by ET, the selected candidate will take on the role of a quantitative trader in Hong Kong.
In addition to this, several prestigious firms have made significant offers at the older IITs. BlackRock, Glean, and Da Vinci have presented packages exceeding Rs 2 crore. APT Portfolio and Rubrik have proposed offers of over Rs 1.4 crore, while Databricks, Ebullient Securities, and IMC Trading have extended offers surpassing Rs 1.3 crore.
Quadeye has offered a package nearing Rs 1 crore, while Quantbox and Graviton have extended offers of Rs 90 lakh. Other notable offers include DE Shaw with packages ranging from Rs 66 to 70 lakh, Pace Stock Broking at Rs 75 lakh, Squarepoint Capital offering over Rs 66 lakh, Microsoft with packages exceeding Rs 50 lakh, and Cohesity at Rs 40 lakh. It's important to note that these figures may vary across different institutions, and companies may provide various roles at different IITs.
The final placement process began on Sunday at the prominent IITs, including Delhi, Bombay, Madras, Kanpur, Roorkee, Kharagpur, Guwahati, and BHU.
On the first day, several notable recruiters participated, such as Qualcomm, Microsoft, Goldman Sachs, Bajaj Auto, Ola Electric, Alphonso, and Nutanix. While early high-value offers do not necessarily guarantee overall placement success, the current situation appears to be more optimistic compared to last year.
According to a report from the financial daily on Saturday, if accepted, Jane Street's pre-placement offer (PPO) will surpass all other offers. The company has yet to respond to inquiries regarding this.
