A news report by Economic Times shows that there has been a significant rise in the number of students scoring a hefty pre-placement package from corporate giants including Facebook, Amazon, Barclays, Morgan Stanley, Adobe, Microsoft, Reliance Industries, Samsung, and more.
As compared to last year, IIT Madras has received about 50 PPOs (35 in 2014), IIT Bombay has bagged 123 PPOs (110 in 2014), IIT Kharagpur has gotten 90 PPOs (66 in 2014), and lastly IIT Kharagpur has a tally of 142 PPOs (92 in 2014).
Divya Pratap Singh, Placement Coordinator at IIT Kanpur reported that that the highest compensation was offered by Facebook, which is estimated to be anywhere between Rs. 1-1.5 Crores per year.
“At Amazon we believe that interns are our future leaders. More than 50% of our campus hiring comes through pre-placement offers and would continue to be one of the key areas of identifying and hiring talent.”
– Raj Raghavan, HR at Amazon
Following suit, a lot of other companies turned to college campuses to hire using Pre Placement offers, some of which included – Texas Instruments, Bentley India, American Express, JSW Group, Credit Suisse, and more.
“More than 50% of our campus hiring comes through pre-placement offers and would continue to be one of the key areas of identifying and hiring talent. This makes it easier for students to decide once they have an offer, as well as assimilate into the organisation faster once they join.”
– Samsung India
Not only this, a lot of startups also seem keen in taking to IITs to hire students to lead various roles in their organization.
The PPOs are given out on the basis of the performance of the intern, during his tenure at the company. Usually, the internships last till August every year, and PPOs are offered shortly afterwards.
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