Students at some of Bengaluru's top engineering colleges have landed placements with eye-popping salaries, even as the tech world is roiled by layoffs.
Take the case of RV University (RV College of Engineering), where Rakshith Dattatreya Hegde must be ecstatic.
The fifth semester student of Information Science just bagged a job offer of Rs 90 lakh per annum from UiPath, a New York-headquartered software company. Trailing behind Rakshith are three others who got job offers worth Rs 65 lakh per annum.
Needless to say, placement officers are happy and relieved over the salary packages, which, they say, have improved.
"Over 160 companies visited our campus and made 846 offers," RV University's placement and training dean Ranganath D said.
At PES University, the highest salary package is Rs 65 lakh per annum. The average cost to the company (CTC) is Rs 17.99 lakh.
"Students have received more offers this year than usual," PES University chancellor MR Doreswamy said. "The interesting thing this time is that companies are re-visiting and insisting on conducting placements even during general holidays," he said.
There was a similar tale at MS Ramaiah Institute of Technology, where 259 firms made 868 offers.
The highest CTC offered was 48.30 lakh.
Savitha Rani M, MSRIT head of placement & training, boasted of the high stipends (Rs 1.30 lakh) during internships and international placements.
"One Dubai-based company made an offer of 5,000 dirhams per month (Rs 1.1 lakh a month)," she said, urging students to have strong fundamentals. Campus placements at the MSRIT follow a June-to-June window.
"Top performing students always have a better chance at getting a high CTC," Dayanand Sagar Institutions vice-president (placements) MN Guruvenkatesh said.
"This time, the highest CTC paid is Rs 40 lakh per annum and the average is around Rs 10 lakh. On average, we have seen an increase in compensation offered, the median salary and the highest CTC," he said.
The BMS College of Engineering, one of the oldest private technology institutes, saw more than 1,000 offers for 1,300 eligible students during campus placements. "We conduct placements round the clock and never close our doors," BMSCE placement & training dean Pradeepa P said.
Last week, a student from the state-run University Visvesvaraya College of Engineering (UVCE) bagged a job offer of Rs 58 lakh per annum from a California-headquartered cyber security company.