Start-ups and e-commerce firms are driving a massive increase in salary packages for students in campus placements, going by the first round of placements in the Birla Institute of Technology and Sciences (BITS).

As per available data, companies visiting BITS upwardly revised compensation packages from 9.56 per cent to 50 per cent annually. They included Microsoft, Amazon, eBay and Directi among others.

According to sources, Google has offered Rs. 52 lakh CTC to a student, making it the highest in the campus here. The second-highest was Rs. 32.19 lakh, offered by Works Application.

When asked on likely factors that contributed to this increase, Placements Officers, BITS-Hyderabad Balasubramanian Gurumurthy,  said, “This increase has been driven by rather aggressive hiring in terms of compensation by start-ups and e-commerce firms.” This has indirectly forced regular IT biggies to revise their packages.

For instance, e-commence firms Zomato, Amazon, e-Bay, PayPal offered annual packages from Rs 25 lakh to Rs 27 lakh. There is significant traction in the start-up hiring as well.

Many companies, including Zomato, Procto, Grofers and Grey Orange India dolled out many offers with packages ranging from Rs 14 lakh to Rs 22 lakh. This is only the first round of placements for the 300 graduating engineers, which began in August. The second round will commence in the second semester.

“There are over 250 companies participating in this year’s campus placements. Placements for 200 students out of 300 have been completed,” Gurumurthy said, adding the same trend is expected to continue in the second round.

The median salary for has grown from Rs. 5.5 lakh last year to Rs. 9.2 lakh this year, registering 67 per cent growth.

Source: Business Line