The reality of Rs. 1.5 crores “packages” at IIT campus placements

This is a repost of my answer to this question on Quora.

They are made to work outside India. Actual salary is only ~USD 125,000. These newspapers and IIT placement people need to stop lying. After taxes, you only make ~$77,000 out of which you will have to pay at least ~$30,000 a year to get a reasonable apartment. So, after rent and taxes, you get ~$50,000 which is Rs.30 lacs. I am assuming working in California.

Don’t believe these stupid lies. We do more advertisement for Google and Facebook than they do for themselves. I don’t know when will we Indians stop propagating these lies.

Most of the salaries that you hear include one time stock in the company which will only be available 3-4 years down the road.

Edit: I need to say that based on the comments, maybe the placement people are not involved, but then the companies are involved in leaking this to media. Otherwise, how would the media know what a company is offering?

See question on Quora

I like to blog about various topics ranging from education in IITs to social issues in India and US. All opinions and views presented here are my own and not of my employer.

1 thought on “The reality of Rs. 1.5 crores “packages” at IIT campus placements

  1. As per the taxes argument, a Rs. 10 lakh per annum salary in India will also yield approximately 7 lakh per annum, perhaps less than that. Because a huge component is disguised as money that you will almost never see. E.g., HRA, medical claims, phone reimbursements, etc. are not what goes in your pocket but are deemed non-taxable only when such expenses have occurred. So, in effect, even in India the pay is not as great as it appears.

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