Many IIT students give up global jobs to opt for domestic offers

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

A placement team member from IIT Delhi said, “Students are opting for domestic roles because the compensation is similar, the cost of living is less and the hike offered is similar.” (HFT) companies.

HFT and Quant companies hire candidates who can analyze markets using mathematical and statistical models. Despite the global recession, this segment has managed to recruit students from IITs at annual salaries in crores of rupees. The top offer so far is almost from Zen Street Capital 4 crores. Other quant and HFT companies that have visited IIT campuses include Quantbox, Squarepoint, Tibra, Quadei, Graviton Research Capital, JPMC Quant, Maverick Derivatives and Da Vinci.

“Students are comparing offers across sectors. Between an HFT role in India and abroad, they will take a post abroad, but if the choice is an HFT position in India versus another region with a global posting, they are opting for the India role,” Prashant Singh, said Founder and Managing Director Quantbox Research.

Quantbox hired over 10 IIT students offering 1.3-1.4 cr for domestic posting and 1.6-2.4 cr for global placements.

Consulting firms, who are among the top recruiters, have also noticed a change in preferences.

“If the Indian firm is a good brand, students are more willing to join them, even if the money is more, than foreign students,” said Barnik Maitra, managing partner at consulting firm Arthur D. Little.

“Growth prospects, long-term US visa challenges and the opportunity to work in emerging economies are a pull factor for roles in India,” Maitra said.

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

Conditions are ripe for an economic boom in India from offshoring, investment in manufacturing, energy transition and the country’s advanced digital infrastructure, according to a Morgan Stanley report on October 31.

The firm estimates that these drivers will make it the world’s third largest economy and market share before the end of the decade. “The emergence of distributed delivery models coupled with tight labor markets globally has given impetus to outsourcing in India. The number of global in-house captive centers opened in India in the last two years was nearly double that of the previous four years,” the report said, calling it a ‘one-generation change’.