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Highest pay package in IIT Delhi-44 lakh

 
Greenhorn
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http://markets.moneycontrol.com/backends/News/frontend/news_detail_newsletter.php?autono=201503

A starting salary of USD100,000 or Rs 44 lakh per annum in no longer just an IIM graduate's Prerogative. This record setting offer was made by Lehman Brothers to a Graduate from the IIT Delhi in the ongoing campus placements.

IIT Chennai was a close second with six students being picked up by banking firm Limebrook New York for a USD90,000 or Rs 39 lakh per annum package.

Oil giants Schlumberger and Shell, have offered annual salaries to the tune of USD80,000 or Rs 35 lakh at IIT Kharagpur.

Among domestic recruiters Goldman Sachs made offers of Rs 14 lakh, Google made Rs 12 lakh and Mckinsey, Rs 8.5 lakh per annum.

Other prominent employers like UBS, Morgan Stanley, Duetche Bank, Bloomberg-New York have also hand picked IITians, clearly establishing that all roads from IIT do not lead to the Silicon Valley.

PRO at IIT-Mumbai, Aruna Dixit says, "We have had a lot of companies coming in including a lot of finacial companies in big numbers such as HDFC, Goldman Sachs, Leeman Brothers and UBS."

I-Banking firms and financial consultancies have shown an unprecedented vigour in recruiting IITians across the country. Morgan Stanley, Deutsche Bank, Capital One, Boston Consultancy, McKinsey were some of the other recruiters. The 2005 batch of IIM Ahmedabad was dominated by students from an engineering background by a whopping 76%. As IIM regulars make a bee-line for the IITs it will be interesting to see how the IIMs will react once their recruitments begin in March.
 
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A starting salary of USD100,000 or Rs 44 lakh per annum



Its not right to convert USD to INR. If you're earning in USA, you're going to spend here too. If they are paying USD 100k for the candidate in India, then its a different story.
 
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The currency conversion bit is actually sensationalizing this news, but still..... holy crap!
 
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It costs 1 lakh a month to rent a crappy 1 bed apartment in NY.....so you can sense the PPP.
 
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$100000 for 22/24 year old is more than sufficient I guess.Does everybody in NY earns more than $100000/year
 
Amit Saini
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$100000 for 22/24 year old is more than sufficient I guess


Yup, it is.

Does everybody in NY earns more than $100000/year


Well, lot of folks with good b-school degrees working at Wall Street do.
I'd say 70-80k starting pay for most people would be a good estimate.

However, you have to factor in the cost of living. A salary of 55-60k in DC/VA/MD area is comparable to a salary of 80-85k in NY.

There is some salary calculator on cnn.com. It's pretty good to figure out cost of living across USA.
 
Arjunkumar Shastry
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Why this was a news because on average H1-B even with good experience while departing from here rarely gets more than 65K.I know one person with 6 years of moderate experience recently went to California on 50K in Bay area.He knew it might be tough to stay there but he was desperate to immigrate.
 
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Why this was a news because on average H1-B even with good experience while departing from here rarely gets more than 65K.I know one person with 6 years of moderate experience recently went to California on 50K in Bay area.He knew it might be tough to stay there but he was desperate to immigrate.


I Agree with you arjun but the key in that equation is 'Immigrate' and not '50K'. The business model of typical desi company (No offense Intended to anyone I am not accusing anyone of anything but discussing the business model) in USA is to convert Indian experience to US experience on resume and pay little for as long as possible. By the time candidate flee or demand for salary correction they start making increase in % like 10 / 15 etc.

Average salary in Ny city is around 90-100K and the Indian IIT's / IIM are still not among the highly paid graduates if compared to other top business school / Engineering schools in US or anywhere else in the world.

Since ndian's are really not paid that well at all (neither in India nor in US) we are inclined to snowball such news. I am not blaming anyone I am also culprit of the same story.
 
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