IIT placements 2024: Record-breaking offers, high salaries from global firms outshine last year trends

A student from IIT Madras received a pre-placement offer (PPO) worth over ₹4.3 crore from Wall Street firm Jane Street, marking the highest package this season. The package includes salary, bonus, and relocation expenses.

The student, a former intern, will join Jane Street as a quantitative trader in Hong Kong.

Premier Indian colleges are increasingly sought after for elite tech talent.

In addition to Jane Street, other IITs have received offers exceeding ₹2 crore from well-known firms like BlackRock, Glean, and Da Vinci.

Databricks and IMC Trading have proposed salaries over ₹1.3 crore, while APT Portfolio and Rubrik have offered more than ₹1.4 crore.

Other notable offers this year include ₹1 crore from Quadeye, ₹90 lakh from Quantbox and Graviton, ₹66–70 lakh from DE Shaw, and over ₹50 lakh from Microsoft.

Final placements for IIT campuses in Delhi, Bombay, Kanpur, Roorkee, Kharagpur, Guwahati, and BHU began on Dec 1.

Prominent employers, including Microsoft, Qualcomm, Bajaj Auto, and Goldman Sachs, have participated. According to reports, placement trends this year are better than last year.

Jane Street's PPO remains the top offer if it is finalized.

IIT Kharagpur's 2024–25 placement season began on December 1 with outstanding results on the first day.

The institute reported over 800 employment offers, including PPOs, made to the graduating batch. Despite a challenging job market, multinational corporations have remained actively engaged in hiring.

Nine students received offers exceeding ₹1 crore, with ₹2.14 crore being the highest package. Additionally, 13 students secured overseas positions.

As the placement season kicks off at the Indian Institutes of Technology (IITs) in Dec, several students have chosen to skip this round of placements, having already secured a Pre-Placement Offer (PPO).

The process of obtaining a PPO begins more than a year before the start of the on-campus placement drive.

During their studies, many engineering students participate in summer internships, either as part of the curriculum or for personal development.

After a successful internship, some students receive a full-time offer from the employer, converting their status from intern to permanent employee.

Initially, students were hesitant to accept a PPO because they believed that an offer received during the on-campus placement drive would offer better prospects and higher remuneration.

The trend seems to be shifting, as IITians are now opting to settle with PPOs rather than enduring the constant stress of securing a job offer, as it allows them to relax during their final year.