Tumbling Facebook, Oracle pays a staggering Rs 1.83 Crore to an IIT graduate

Tumbling Facebook's offer of Rs 1.42 crore a year, Oracle has become the highest payer at the IITs this year offering a staggering amount of Rs 1.83 crore a year to a student. Reportedly two students from IIT-Bombay, SS Kaushik and Tarun Kathuria, have received offers for the overseas position with Oracle against 10 overseas positions offered to the students in IITs. Facebook in comparison offered 5 overseas positions to the students.

The Multinational firm made an offer of close to Rs 80 Lakh, along with 4,000 company shares. Evaluating at the current rate the stocks inflate the figures to Rs 1.03 crore, pushing up the package to Rs 1.83 crore, highest offered at the IITs till date. Officials claimed that base pay offered by the leading firms was at par and that the stocks might have made the difference, with Facebook offering Rs 62 lakhs in shares. 

Around 500 students who registered for the campus exercise from IIT-B bagged jobs. Sagar Jha bagged highest offer for a domestic position by Tower Research Capital India who offered him Rs 34 lakh plus performance incentive of Rs 8 lakh a year.  

IIT- Roorkee's placement drive was a success too as 261 students were placed by by the the end of the first slot of the third day, with E-commerece companies offering the highest numbers. With Flipkart picking around 16 students from IIT-B and 19 from IIT-Madras, the highest package promised by an e-tailer was Rs 23 lakh a year and that by a start-up Rs 18 lakh.