Uber offers a salary of 2 crore rupees to IIT graduates; crore-plus salaries return after 6 years
Uber offers a salary of 2 crore rupees to IIT graduates; crore-plus wages return after 6 years | Photo credit: iStock Images
Uber Technologies handed out salary offers in the order of Rs 2 crore to students at the nation’s top tech school, the Indian Institute of Technology (IIT) on the first day of the on-campus internships.
The taxi company has made offers at IITs in Bombay, Madras, Roorkee, Kanpur, Guwahati and Varanasi, among others, members of the placement cell told Economic Times.
The report states that the Uber plan is $ 274,250 or Rs 2.05 crore per year, which includes $ 128,250 or 96 lakh of base salary, a target bonus, a new hiring subsidy and a login bonus. The offer of this magnitude to IITs was last made six years ago, he added.
In 2020, the highest salary compensation offered by San Jose-based Cohesity was $ 200,000 or Rs 1.48 crore.
A spokesperson for Uber told ET that the company is hiring engineers for its centers in Hyderabad and Bengaluru.
“As part of this ongoing recruitment drive, Uber regularly visits top tech campuses across India, including IITs, to give graduates the opportunity to apply for open positions,” the spokesperson added.
Several IITs have reported an increase in the number of Rs 1 crore-plus packages for national and international delegations amid competition between companies for top talent.
High-frequency trading companies such as Quantbox Research, Graviton Research, Da Vinci Derivatives and Quadeye are also among the recruiting companies offering lucrative salary packages to graduates during on-campus internships. Some of these companies were offering national salaries of up to Rs 1.8 crore, including the second year bonus, no cash benefits, ESOPs, and a login bonus.
Da Vinci offered 153,000 euros, or about Rs 1.3 crore, with no stock options for international assignments.
Abhishek Kumar, head of the Center for Career Development at IIT Guwahati, told ET that domestic and international offerings have set records this year.