We often hear and read news of salary packages worth crores of rupees received by engineering students during campus placements in IIT institutes. Every year there is a huge race for admission in the leading IIT institutes of the country in the pursuit of huge packages and creamy job offers from leading IT companies. Around 12 to 13 lakh students appear for the engineering entrance exam JEE Main, of which the top 2.5 lakh appear for JEE Advanced. Out of these two and a half lakh, only a few thousand children are able to get B.Tech seats in major engineering institutes. Amidst all the glamor of the huge packages received from IITs, an IITian has revealed the truth behind the packages worth crores of rupees received here.
IIT Roorkee alumnus Gaurav Garg, who became an IFS officer after passing the UPSC Forest Service exam, has revealed the reality behind the salary package of Rs 1 crore in some tweets on the social media platform X.
IITian Gaurav Garg said, 'Often we hear about students in IITs getting salary packages worth crores. What is the real situation of placement in IIT? He further wrote, 'Freshers coming out of IIT usually get an annual salary ranging from Rs 6 lakh to Rs 35 lakh. However, those with Computer Science (CSE) and Electronics and Communication Engineering (ECE) get jobs with higher salary packages. Most of the crore salary offers to IIT Bombay, IIT Delhi, IIT Kanpur and other IIT students are given by companies established in America or Singapore or any other country. There are many such offers in the coding domain. Companies like Google, Facebook and Twitter offer such huge packages.
He said that the big salary packages include things like ESOP, leave encashment, payment after working for 4-5 years. Many times the salary is only 40 to 50 percent of the CTC. In his tweet, he has also attached a newspaper news cutting, details of which you can see below. He has told that the actual salary received in hand is much less than what we hear about the package (CTC). There is a huge difference between CTC and in hand salary.
international office
Details of salary packages above Rs 1 crore offered by multi-national companies like Facebook, Oracle, Google, Microsoft and Samsung Korea.
– Facebook- 1.42 crore
Basic – 65 lakhs
Joining Bonus – Rs 15.45 Lakh
Stock Option – 62 lakhs
oracle
1.8 crores
Basic + Incentive – 77 Lakh
Stock Option – 4000 stocks (worth Rs 1.03 crore)
IIT: 204 companies offered jobs to 909 in IIT, average salary 16.45 lakh, know the best package.
domestic offers
Tower Research Capital
Basic- 34 lakhs
Incentive – 8 lakhs
Average salary offered by domestic firms – 8-12 lakhs
He further wrote- 'Except Computer Science, the average salary of other engineering branches remains around Rs 10-12 lakh per year. Less packages are available in core branches like mechanical and civil engineering.
Let us tell you that Gaurav had been a NABARD officer before passing the UPSC exam and becoming a civil servant. He had also passed the Haryana PCS 2021 exam.
