Crore-plus packages back at IIT-M but Google not offering the highest

After a gap of three years, crore-plus salaries are once again back at the Indian Institute of Technology, Madras (IIT-M). Two B.Tech (final year-computer science engineering) students at the premier institute got offers of $210,000 (Rs 1.31 crore) each for international roles at a US-based company. 

The dollar package has risen 40 percent from $150,000, while domestic offer this year increased by nearly 70 percent to Rs 48.6 lakh a year against Rs 28.8 lakh last year, according to Lt Col (Retd.) Jayakumar, Deputy Registrar (Students and Placement), IIT-M. 

While Google offered packages of Rs 92 lakh to three students, a report in The Times of India said Oracle topped the list with the crore-plus packages. AFP Samsung Electronics, Epic, Microsoft India R&D, Oracle, LinkedIn, Deutsche Bank, ITC, and Google were some of the companies that visited the campus. 

About 100 students got placed in 25 multinational companies on day one of this year’s placement season which began Sunday. Last year, 22 companies recruited 95 students on Day One. As many as 1,366 students had registered for placement this year whereas it was 1,282 last year. According to a report in The Times of India Microsoft and Google are likely to unveil compensation packages of around $110,000 (Rs 68 lakh) to shortlisted candidates at IIT-Bombay. Google has offered $120,000 (Rs 74.8 lakh) at IIT-Guwahati. 

Google US also offered the highest pay of around Rs 93 lakh at IIT Kharagpur. Across IITs, the top offers have come in from the likes of Schlumberger, Mitsubishi, Apple and Oracle, and Indian start-ups such as Zomato.

IIT-M launches Ph.D. scholarship programme

A Ph.D. scholarship programme was launched at the Indian Institute of Technology – Madras, recently to provide the next generation of researchers in India and Melbourne world-class academic supervision and support.

The Melbourne-India Postgraduate Programme (MIPP) will link the University of Melbourne with leading research institutes in India – Indian Institute of Science in Bangalore (IISC), Indian Institute of Technology – Kanpur (IITK) and Indian Institute of Technology – Madras (IITM).

The $3 million programme, a joint initiative of the four institutions would provide 16 Ph.D. scholarships and associated support for research exchanges for the next three years. The programme will commence in 2014 and will be open to Ph. D. students enrolled at the University Of Melbourne, to be co-supervised by staff at IITK, IITM or IISC. Students enrolled in one of the three Indian institutions will have access to co-supervision with Melbourne academics.

Prof. Glyn Davis, vice-chancellor, Melbourne University, said the new programme was a value addition to Melbourne’s extensive scholarship offerings.

Prof. Bhaskar Ramamurthi, Director, IIT-Madras, said, “IIT-Madras looks forward to very productive collaboration between faculties of both the institutions with a vibrant student exchange programme at all levels, particularly the research scholars.”

Prof. R. Nagarajan, Dean, International and Alumni Relations, IIT-Madras, said, “IIT-Madras has embarked on a systematic programme of research collaboration with leading universities across the globe. We envision a four-stage process, starting with faculty interaction, leading to research scholar exchanges and joint supervision of Ph.Ds, culminating over time in joint doctorate programs.”