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As enthusiasm for AI grows across the technology landscape, interest in traditional roles like product managers and regular engineers seems to be waning. According to placement officials at IITs, some of the top demands are for cognitive science experts, data scientists, quantitative strategists and developers, and AI-focused developers, researchers and application engineers.
The race for AI talent boils down to a curious job description at Palo Alto-based Turing: The candidate must be able to formulate a multiple-choice question paper that Google and ChatGPT can’t solve. Successful candidates can join with the option to work from home, said a student who viewed the job description.
“We are excited to have talent from IITs that want to hire during IIT placements,” said an executive at US-based Abacus AI. level and create AI agents and engineers, who can in turn create applied AI systems.” Abacus executives did not elaborate on planned compensation, but two former IIT students said the company would compensate students trained in machine learning and general AI. 60 lakhs.
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Of the 23 IITs in India, the placement season begins from December 1 in the first generation IITs, including Madras, Bombay, Delhi, Kharagpur, Roorkee and Kanpur. The second and third generation IITs, along with the National Institutes of Technology (NITs), start as early as August–September.
High-frequency trading (HFT) firm Graviton Research is offering capital, a placement executive said 90 lakh for India-based roles. The compensation for HFTs can reach up to Rs 2 crore and for global ones it can exceed Rs 2 crore. While da Vinci is offering Placement officials said Rs 2.2 crore for international roles. In the batch of 2024, some of the top offers were so high 1.4 crores. However, the Pre-Placement Offers (PPOs) given to shortlisted students may be higher.
Japan’s Sony Corp has more than 10 roles on offer, including AI Engineer, with salaries ranging up to ¥95,33,840. 53 lakh). Honda Motor Corp’s R&D unit will hire an AI research engineer at 8,872,000 yen. 49 lakh). IT and consulting firm Accenture and credit card giant American Express are offering 21 lakh for AI experts.
“This year in both internships and final placements, the number of companies is higher than last year. Placements have not started yet, and the number of students is in thousands, but it is definitely looking better than last year ,” said the placement team coordinator of one of the older IITs.
Hedge Fund World Quant Is Offering Around ₹92 lakh, while algo trading firm Databricks ( 45 lakh), NK Securities ( 80 Lakh) and SquarePoint Capital ( 66 lakh) are targeting students with similar skills.
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Other top jobs on offer include roles at Goldman Sachs ( 50 Lakhs) and Boston Consulting Global ( 20-23 lakh), and at Microsoft’s Hyderabad and Bengaluru offices ( 51 lakh). Flipkart is looking for software developers and associate product managers 26-32 lakhs, while Samsung can pay 24-69 Lakh for multiple profiles including South Korea based.
Goldman Sachs declined to comment, while Microsoft declined to share specific details. A Databricks spokesperson was not available to comment. Queries sent to IITs and other potential recruiters remained unanswered.
To be sure, the initial placement days are no guarantee as to how thousands of IIT students will eventually land a job. In fact, placement teams at India’s top technology schools are quickly pursuing potential recruiters to avoid a repeat of last year’s struggle to find jobs for their graduates.
Many IIT graduates of the 2024 batch were not selected by the end of the placement season in May-June. While this reflects the uncertainty in the global economy, many companies also had to recruit a substantial number of graduates due to the pandemic. The institutes then reached out to their alumni and startups, accepting lower compensation than usual.
Last year, an unexpected recruiter at IIT Bombay was Bhavish Aggarwal-led Ola, which was offering 27-45 lakh for its ride hailing and electric vehicle businesses. According to another IIT student, the company is hiring for a position in the Founder’s Office this year.
Read more IITs are chasing recruiters to avoid a repeat of last year’s trouble
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