Top international recruiters Facebook, Oracle and Google have rolled out at least 40 offers with total compensation packages higher than Rs 1 crore at the end of only the second day of IIT campus placements. Such a large number of crore-plus offers - including cash and stock - are being offered for the first time.
Oracle is leading the charge, offering up to 4,800 stock units worth $200,000 (Rs 1.24 crore), besides a $125,000 (Rs 77.5 lakh) cash component. IIT BHU sources have revealed these figures.
Sources from IIT-Delhi, IIT-Roorkee and IIT-Kanpur said some 4,000 stock options had been indicated as part of the overall package by the American multinational computer technology corporation.
Google, for Mountain View postings, rolled out a salary of $130,000 and 250 stock units worth approximately $134,500 (Rs 83 lakh), said IIT-BHU officials.
The institute added that one student has been selected by Oracle US, and another for Google US.
Average domestic salaries at IIT campus placements this year have been in the range of Rs 10-12 lakh.
Placements at the older institutes started on December 1. Stock options are typically rolled out by companies as a retention measure and are often vested only after employees remain with the company for a specified period.
Facebook has already made offers of $250,000 (Rs 1.55 crore) to students at IIT-Bombay, IIT-Kharagpur and IIT-Delhi.
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