Many IIT students skip global jobs to choose domestic offers

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Mumbai : Many students from Indian Institutes of Technology (IITs) have opted for international postings this placement season, indicating that companies are now matching global compensation, as well as offering greater job stability with high-growth, challenging roles in India.

“Some students have accepted domestic offers over international offers,” IIT Delhi said in its statement on placements starting from December 1. About 20 students of the institute have received international job offers from Hong Kong, Netherlands, Singapore, South Korea, Taiwan. UK, and UK.

“Students are opting for domestic roles because the compensation is similar, the cost of living is less and the increments paid are the same,” says a member of the placement team at IIT Delhi. (HFT) companies.

HFT and quant companies hire candidates who can analyze markets using mathematical and statistical models. Despite the global recession, the department has been able to recruit students from IITs with an annual salary of crores of rupees. The top offer so far is from Jane Street Capital for approx 4 crore rupees. Among the other quant and HFT companies that have visited the IIT campus are Quantbox, Squarepoint, Tibra, Quadei, Graviton Research Capital, JPMC Quant, Maverick Derivatives and Da Vinci.

“Students are comparing offers across different sectors. Between HFT roles in India and abroad, they will take the overseas one but if the option is an HFT post in India versus another sector with a global posting, they will choose the India role,” said Prashant Singh, founder and managing director, Quantbox Research.

Quantbox has hired more than 10 IIT students, offering 1.3-1.4 crore for domestic posting and 1.6-2.4 crore for global placement.

Consulting firms, which are among the top employers, have also noticed a shift in preferences

“If the Indian firm is a good brand, students are more willing to join them than an unknown one from abroad, even if the money is higher,” says Bernick Maitra, managing partner at consultancy Arthur D Little.

“Growth potential, long-term US visa challenges and opportunities to work in emerging economies are a pull factor towards India’s role,” Maitra added.

Arthur D. Little IIT has recruited 15 freshers from Kharagpur, Bombay, Madras, Delhi and Kanpur on annual salary. 20 lakhs with bonus.

According to a Morgan Stanley report on 31 October, economic growth in India is poised to be fueled by offshoring, investment in manufacturing, energy transition and the country’s advanced digital infrastructure.

The firm estimates that these drivers will make it the world’s third-largest economy and stock market before the end of the decade “Emergence of distributed delivery models coupled with a tight global labor market has accelerated outsourcing in India. The number of global in-house captive centers opened in India in the past two years has almost doubled compared to the previous four years,” the report said, calling it a ‘once-in-a-generation change’.

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