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IIT graduate bags Rs 2 crore plus salary by Uber on 1st day of placements

By Saima Siddiqui 
Updated Date

New Delhi: The cab-hailing company, Uber Technologies, handed salary offers in the range of Rs 2 crore to students of the country’s top tech school Indian Institute of Technology (IITs) on the first day of campus placements at IITs in Bombay, Madras, Roorkee, Kanpur, Guwahati, and Varanasi among others.

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As per reports, Uber package amounts to $274,250 or Rs 2.05 crore per annum, which includes $128,250 or Rs 96 lakh base pay, target bonus, new hire grant and a sign-on bonus. The offer of this magnitude at IITs was last made six years back.

In 2020, the top salary compensation package offed by San Jose-based Cohesity was $200,000 or Rs 1.48 crore.

A spokesperson from Uber told media that the company is hiring engineers for its Hyderabad and Bengaluru centres.

“As part of this continuing recruitment drive, Uber regularly visits top technology campuses across India, including IITs, to give graduates opportunities to apply for open roles,” the spokesperson further said.

Several IITs have reported a spike in the number of Rs 1 crore-plus packages for both domestic and international deputations amid competition among companies for top talent.

High-frequency trading companies such as Quantbox Research, Graviton Research, Da Vinci Derivatives, and Quadeye are also among hiring companies offering lucrative salary packages to graduates during campus placements. Some of these companies offered domestic salaries upto Rs 1.8 crore, including the bonus for the second year, no cash benefits, ESOPs and a sign-on bonus.

Da Vinci has offered Eu 153,000, or about Rs 1.3 crore, without stock options for international postings.

Abhishek Kumar, head of Centre for Career Development at IIT Guwahati told media, both domestic and international offers have set records this year  .

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