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IIT graduates get whopping Rs 1 crore pay package

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Pre-placement Offers (PPOs) at Indian Institute of Technology every year create buzz for high pay scales that have been offered to the students. The pre-placement offers by Amazon, Samsung and Facebook have caught eyeballs of people by offering a whopping amount of Rs 1 to 1.5 crores to IIT graduates.

According to a report by Times of India, this year Facebook has offered the highest compensation. Besides, the Pre-placement Offers (PPOs) are also witnessing an increase of 50 per cent from the previous years making way for more engineering student at IITs to have better job offers and choices.

IIT graduates get whopping Rs 1 crore pay package

With final placements due in December this year for 2016 graduating students, IIT Madras has received 50 PPOs against 35 last year and IIT Mumbai has received 123, IIT Kanpur 90 by September.

Leading the pack, IIT Kharagpur witnessed 55 per cent rise in PPOs with 142 offers as compared to 92 last year.

The rise in PPOs is mainly due to comeback of banking and financial companies including JP Morgan, Morgan Stanley and Barclays at Madras and Kharagpur. .

The other reason for higher PPOs is the start-up companies run by IIT alumni who return to the campus for recruitments.

Students were also recruited by many companies based on their performance during internship which takes place around in the month of July and August every year.

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