The first day of the placement season at IIT-Bombay did impress the students and faculty on Friday. Leading technology firm Microsoft offered the highest annual salary package of INR 1.39 crore followed by the app-based taxi aggregator Uber which closely stood second and holding out INR 99.87 lakh per annum. As per reports, it is said that Microsoft offered USD 2,14,600 to a student, while Uber was ready with USD 1,55,000.
The interview process was broken down into two sessions- the first slot was conducted between 8 AM to 4 PM on Friday and the second one started in evening and went on till 2 AM on Saturday. 52 job offers from 17 companies with eight of them from Goldman Sachs and seven from consulting firm Boston Consulting Group were brought on the first day. In each slot, five jobs were offered by Consulting firm Strategy& (earlier known as Booz&co) and Texas Instruments Inc. Other companies that were a part in the hiring queue were Morgan Stanley (Investment Banking), Deutsche Bank, Procter & Gamble, Millennium and the ITC Group.
To know more about this IIT-B placement season, read the detailed article here.
No start-ups participated in the placements on the first day in IIT-B as it was dominated by companies from consultancy, finance, software and engineering sectors. Given the fact that many students had withdrawn the job offers made in 2015, the institute did not allot any preferential slots to start-up firms. Last year, 31 start-up companies were blacklisted and banned from the IIT-B placements for withdrawing their job offers. The ban was revoked this year.
IIT-B considers a number of factors for placing their students such as the students’ preference, job profile and salary. Accordingly, the roster of the participant companies is made. The students are required to secure their jobs the same day as their placements.
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