The annual placement season at India’s prestigious Indian Institutes of Technology (IITs) is about to explode, kicking off on December 1st with a fierce competition for the brightest minds. This year, the race is on to secure the best and brightest in the booming fields of artificial intelligence (AI) and algorithmic trading. Placement cell executives report offers nearing ₹2 crore (approximately $240,000 USD), a stark indicator of the escalating demand for AI expertise.
The excitement surrounding AI has eclipsed interest in traditional roles like product management and general engineering. The most sought-after profiles include experts in cognitive science, data scientists, quantitative strategists, AI developers, researchers, and application engineers. The intense competition is highlighted by a peculiar job description from Palo Alto-based Turing, seeking candidates who can create multiple-choice questions that stump both Google and ChatGPT – a testament to the high bar set for AI talent.
This global demand is apparent in the significant offers from leading tech companies. Abacus AI, a US-based firm, is actively recruiting, expressing excitement about the potential of IIT graduates to “completely take AI to the next level.” While the company declined to disclose exact figures, students from several older IITs reported offers of ₹60 lakh (approximately $72,000 USD) for machine learning and Generative AI specialists.
High-frequency trading (HFT) firms are also aggressively competing for talent. Graviton Research Capital is offering approximately ₹90 lakh (approximately $108,000 USD) for India-based roles, with compensation reaching ₹2 crore (approximately $240,000 USD) or more for global positions. Da Vinci is reportedly offering a staggering ₹2.2 crore (approximately $264,000 USD) for international roles.
The allure of AI extends beyond the burgeoning startups. Established giants like Sony Corp. (offering up to ₹53 lakh or approximately $63,600 USD), Honda Motor Corp.’s R&D (offering up to ₹49 lakh or approximately $58,800 USD), Accenture (around ₹21 lakh or approximately $25,200 USD), and American Express (also around ₹21 lakh or approximately $25,200 USD) are actively recruiting AI specialists. Other notable offers include those from World Quant (₹92 lakh or approximately $110,400 USD), Databricks (₹45 lakh or approximately $54,000 USD), NK Securities (₹80 lakh or approximately $96,000 USD), Squarepoint Capital (₹66 lakh or approximately $79,200 USD), Goldman Sachs (₹50 lakh or approximately $60,000 USD), Boston Consulting Group (₹20-23 lakh or approximately $24,000-$27,600 USD), and Microsoft (₹51 lakh or approximately $61,200 USD).
Even e-commerce giants are participating in the talent grab. Flipkart is looking for software developers and associate product managers, offering salaries in the range of ₹26-32 lakh (approximately $31,200-$38,400 USD), while Samsung offers vary from ₹24-69 lakh (approximately $28,800-$82,800 USD) for various roles, including those based in South Korea.
While these early offers are promising, the IIT placement teams acknowledge the need for caution. Last year’s placement season presented challenges, with some 2024 graduates remaining unplaced by the end. This year, the institutes are proactively engaging potential recruiters early to avoid a repeat of last year’s situation, which saw them reaching out to alumni and startups to secure positions at lower-than-usual compensation. The placement teams understand that the initial wave of offers doesn’t guarantee employment for all thousands of graduates. However, the strong early interest signals a potentially robust placement season overall, underscoring the significant global demand for the exceptional talent emerging from India’s IITs.
