IIT-K student wins record-setting $4 million in the placement lottery

Credent Tv (2 Dec 2022): As the placement season began at the nation’s top engineering colleges on Thursday, high-frequency and quantitative trading firms snatched up top talent from the Indian Institutes of Technology (IIT), offering salaries as high as 4 crore.

One of the IIT-Kanpur students on the mediation team said, “Jane Street offered one of our students roughly €4 crore.” Emails sent to Jane Street and the IIT-Kanpur received no response.

Many blue-chip corporations have stayed away despite the new record offer from proprietary trading firm Jane Street Capital because they have been severely harmed by the prolonged economic recession.

“Firms come to IIT for internships,” said Sathyan Subbiah, Consultant (Internship) at IIT-Madras, one of India’s older IITs. “These HFT profiles require analytical abilities and logical thinking.” At the conclusion of the first placement day, it got 25 offers with pay packages totaling more than €1 million annually.

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Squarepoint, Tibra, Quadeye, Graviton Research Capital, JPMC Quant, Maverick Derivatives, and Da Vinci are a some of the businesses who visited the IIT campus, according to placement teams.

According to a member of the IIT-Kanpur placement team, “Maverick Derivatives and Da Vinci proposed a €150,000 package.” Both companies ignored mint’s inquiries. Cohesity, Rubrik, and trading company Optiver have all offered international positions at IIT-Madras, and some of the profiles are probably open.

Texas Instruments (14), Bajaj Auto Ltd. and Chetak Technology Ltd. (10 apiece), Qualcomm (8), and JP Morgan Chase & Co. (9), according to IIT-Madras, were some recruiters regarding offers.

However, as many corporations impose hiring freezes, matching teams in some IITs report a sharp increase in the number of international offers. With a compensation of up to €2.16 million per year, ride-hailing and food delivery firm Uber was the top employer in 2017.

The popular method for businesses to make offers to students after their internships has emerged this year as pre-internship offers. Companies like Microsoft felt the slowdown’s immediate effects.

which lack roles with a global scope. For household rolls, it has offered roughly €50 lakh. Comparable to what Microsoft is offering, Google has also launched similar offerings. Accenture, however, provided €85 lakh for positions headquartered outside of Japan.

Flipkart pays between €26 and €33 lakhs for product manager and data science positions in startups and e-commerce businesses.

In response to mint’s email, a Flipkart representative said: “We partner with various colleges to recruit positions for positions such as SCM, Analytics, and Product & Business Development and visit business schools and engineering campuses across the country including IIT Bombay, Delhi, Madras, Kanpur, BHU (Varanasi), Roorkee, Hyderabad, and Guwahati.

At midnight, the placement season began at the majority of IITs. Oracle released 11 offers for IIT-Guwahati students. One of his pupils was paid €2.4 crore for a global role, while another was paid €1.1 crore for a domestic role.

One student received €1.06 crore in salary for an overseas assignment and €1.30 crore for a domestic posting, according to IIT Roorkee. Among the employers were AppDynamics, Bajaj Auto, BCG, Cairn Oil and Gas, Da Vinci Derivatives, Flipkart, Graviton, and Intel Technologies.