IIT students get big offers this year! Jane Street, a prominent Wall Street trading firm, has extended a remarkable annual salary package of Rs 4.3 crore-plus to a student from the Class of 2025. This offer, which includes base salary, fixed bonus and relocation benefits, sets a new benchmark for the placement season at Indian Institutes of Technology (IITs).
The high-frequency trading firm made this pre-placement offer (PPO) to a computer science and engineering student at IIT Madras, who had previously interned with them. ET reported two placement sources as saying that the selected candidate will work as a quantitative trader in Hong Kong.
Several prestigious firms have made substantial offers at the older IITs. BlackRock, Glean and Da Vinci have offered packages exceeding Rs 2 crore. APT Portfolio and Rubrik have proposed Rs 1.4 crore-plus, whilst Databricks, Ebullient Securities and IMC Trading have offered Rs 1.3 crore-plus.
IIT Recruitments
Quadeye’s package approaches Rs 1 crore, and Quantbox and Graviton have offered Rs 90 lakh. Additional offers include DE Shaw (Rs 66-70 lakh), Pace Stock Broking (Rs 75 lakh), Squarepoint Capital ( Rs 66 lakh plus), Microsoft (Rs 50 lakh plus) and Cohesity (Rs 40 lakh). These figures may differ across institutions, and companies might offer various roles across different IITs.
The final placement process commenced on Sunday across the established IITs in Delhi, Bombay, Madras, Kanpur, Roorkee, Kharagpur, Guwahati and BHU.
The initial day saw participation from notable recruiters including Qualcomm, Microsoft, Goldman Sachs, Bajaj Auto, Ola Electric, Alphonso and Nutanix. Whilst early high-value offers do not necessarily indicate overall placement success, the current scenario appears more positive compared to the previous year.
As reported by the financial daily on Saturday, Jane Street’s PPO if accepted will exceed all other offers. The company has not responded to enquiries.