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Rs 70 Lacs Placement Offer To IIT Kharagpur Student From Facebook

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Facebook recruited one of its addicts from India. The website has made an offer of about Rs 70 lakh for a posting in the United States, which has created a buzz on all IIT campuses where annual placements are on.

In the last three days, no other company, domestic or foreign, has come close to offering this kind of a compensation package.

On the offer letter, officials from IIT-Kharagpur said Facebook offered a starting salary of $90,000, a relocation bonus of $10,000 and a one-time signing amount of $25,000 to the 21-year-old from Jamshedpur. But on the Kharagpur campus, students said DKS had also been offered ESOPs and the entire offer translates to about Rs 1.7 crore. However, sources in the placement cell did not confirm this. DKS, whose father is a government employee, has in his time at IIT interned as a research assistant at the University of British Columbia and at Microsoft India.

At IIT-Madras, the highest domestic offer on Friday came from Transocean, which offered Rs 28 lakh and the high point of the day was when Intel offered positions to 30 students. At IIT-B, Tower Research which offered jobs to six students, was among the high paying companies. Several financial institutions — Goldman Sachs, Bank of American, Deutsche Bank, Citibank, Capital One — have made a come back after lying low in the recessionary years.

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  1. haha…. I hope the readers do understand that media loves exaggerating and the actual scenario is much different than that is portrayed… Placements are better than last two years… companies are taking more number of students… but the avg salary hasn't gone up … 1 or 2 high salaries doesn't affect the avg of 1500 students

    • agreed…actual salary is little different….avg salary is sum total of salary offered to all student. If it's include 2-3 offer 14-15 lacs and avg is 7-8 lacs it means lowest salary will be around 3.5-4 lacs.

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