The Placement Season has kickstarted at the Indian Institutes of Technology (IITs) and quite a few students have managed to bag some plum pay packages this year. IT giants including Microsoft, Google and Oracle have been among some of the big recruiters this season. The pay packages that are being offered by some of these companies are as high as Rs.2 crore. However, even as the headlines have been blaring about some of the fancy pay packages that are being offered to students, many IIT graduates have been repeatedly asserting that the pay packages are more often than not, just made to look bulky.
Helping to decode some of the offers that have been rolled out to them, students have revealed that most companies have thrown in a number of variable components such as bonus, medical reimbursement, overtime allowance and other such perks just to make their salaries look tempting. Some of the IT-bigwigs and new age e-commerce companies such as Visa and Indeed, which is a popular US-based job search engine have also been attaching Employee Stock Ownership Plans (ESOPs) to boost their pay packages. Oracle, for example, rolled out an offer of Rs.80 lakh to a student of IIT-Roorkee which was inclusive of 4000 company stocks.
The hype surrounding the plum pay packages have been despite the All IITs Placement Committee (AIPC) in Guwahati issuing strict guidelines not to disclose pay package figures from this year. But even as the propaganda continues, students are being encouraged to be discrete in settling for a job offer. Experts have been underlining that students should be weighing their options based on their area of interest and the nature and suitability of the work rather than just the large pay packets that are being offered to them.