Facebook Offers IITian 70 Lakhs/Lacs pay package
Facebook on Friday recruited one of its addicts from India.The social networking site,which recently logged its 500 millionth active citizen,offered about Rs70 lakh annually for a posting in the United States,quickly becoming the buzzword on all IIT campuses where annual placements are on.In the last three days,no other company,domestic or foreign,has come close to offering this kind of a compensation package. While Facebook is still interviewing more IITians,DKSwho graduates from the school of computer science and engineering at IIT-Kharagpur in 2011 and does not want TOI to reveal his full name for security reasons has received a join-us post from the website.On his wall,DKS announces how he is hooked on Facebook,which cuts his day by half.He now knows that the social networking site,known as the Big Boss of the web-world,will eat up his days. In the offer letter,IIT-Kharagpur officials said,Facebook offered the 21-year-old from Jamshedpur a starting salary of $90,000 annually,a relocation bonus of $10,000 and a one-time signing amount of $25,000.Students on the campus say DKS had also been offered ESOPs (Employee Stock Ownership Plans) and the entire offer translates to about Rs1.7 crore. However,sources in the placement cell did not confirm this.DKS,whose father is a government employee,has in his time at IIT interned as a research assistant at the University of British Columbia and at Microsoft India.Interviews were on till late on Friday at IIT-Madras where Facebook shortlisted 10 students. But,after several rounds of interviews,it did not select anyone from IIT-Delhi.IIT Bombay faced some technical glitches,so Facebook will meet grads from Powai on Skype,an internet video-audio protocol service,later next week.Tower Research which offered jobs to six students,was among the high-paying companies.Ashok Leyland,Bank of America,Eaton,Morgan Stanley,Alcatel-Lucent and Pubmatic among others recruited close to 30 students from IITB on Friday.Several financial institutions,namely Goldman Sachs,Bank of America,Deutsche Bank,Citibank,Capital One,have made a comeback after lying low in the recession years.At IIT-Madras,the highest domestic offer on Friday came from Transocean,which offered Rs28 lakh annually.The high point of the day,however,was when Intel offered positions to 30 students. N Ramesh Babu,adviser (training and placement),IIT Madras,is both excited as well as in a dilemma with 250-odd recruiters,comprising a mix of old and new economy,having lined up till end-January 2011.We are in a position where,say,after 20 days you may not have enough students left to be recruited.We have not been able to give dates to some companies.Most companies which hire here,will also be going to the other IITs, he said.In the last two days,IIT-Delhi has seen 110 students being offered jobs.