As placements go virtual, Cohesity may emerge as the top paymaster at IITs

KOLKATA/NEW DELHI: US information technology company Cohesity is likely to emerge as the top paymaster this year at the Indian Institutes of Technology, where final placements in virtual mode start on December 1.Officials from leading campuses told ET that the San Jose-based company will offer salaries of $200,000 (Rs 1.48 crore) per annum on a cost-to-company basis to the selected students for US roles, which is the highest package for the Class of 2021 so far.According to IIT placement team members, Cohesity will offer a gross salary of $120,000 per annum, while variable components and stock options account for roughly $80,000.“The offer packages have been shared with the respective placement cells and they are very competitive,” Apurv Gupta, chief technology officer of Cohesity, said in an email response to ET, without mentioning figures. The company will visit the IITs at Bombay, Kanpur, Madras, Delhi, Kharagpur, Roorkee and BHU (Varanasi) to hire software engineers and research engineers.“We’ll be hiring for both India and US roles. Candidates offered a position in the US will move as soon as their visa situation permits,” said Gupta. The company hires about 30 college graduates from India each year.“This year’s hiring goal is slightly more than last year,” added Gupta.Cohesity, along with Salesforce, Microsoft and Uber, had offered pay packages of Rs 1 crore-plus for the cream of engineering talent at the IITs during the final placements last year. As reported by ET on Friday, the other three companies are yet to confirm hiring for US locations, though they may move some students to the US once the Covid-19 situation improves.An Uber spokesperson told ET that it’s bullish on its long-term growth plans and will be recruiting for software engineering and product management roles.Even in a year wracked by uncertainties because of the pandemic, most recruiters continue to maintain their relationships with these top engineering campuses. The IITs have tapped alumni networks and onboarded a bunch of new recruiters to offer graduating students more options.Campus placement cells across the old IITs said that companies offering high pay packages for international and domestic locations this year include Ally Financial, Graviton Trading, Quantbox, MTX Group, Quadeye, AB InBev and Microsoft.

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