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By Yogita Rao & Hemali Chhapia, TNN :MUMBAI: The IIT campus placements this year
show many firms have wisened up to the trend of fresh recruits moving on other
jobs, sometimes a few months after joining.
So, instead of higher signing bonuses and relocation expenses, companies are
giving stock options to the extent of close to 100% of the base salary.
Facebook , a social networking company, has offered students a base salary of
$100,000, a bonus, a relocation bonus of $20,000 and stock options of $120,000
if they stick on for two years. Similarly, Twitter, Google, Amazon andAmerican
Express have beefed up their compensation packages by tucking in stock options.
An IIT-Bombay student, who got placed on day one of the placement, said, claimed
that a couple of social media networks have offered stock options to students.
"Though the institute mainly presents us with the base salary, a couple of
companies in the social networking sector have offered stock options of a lump
sum amount and it is looking attractive."
The scene at IIT-Kanpur is also the same. Some of the companies, mainly
start-ups, have offered stock options to students as their package.
Shadab Mohammed, a member of the core team for placements at IIT-Kanpur, said,
"Some of the companies have offered stock options at our campus too. The reasons
vary from retention of talent to an incentive to motivate young recruits and
also to give them a sense of responsibility."Many start-ups like Flipkart are
offering stock options, he said.
Vice-president on the placement committee at IIT-Kharagpur (IIT-Kgp) Rinshul
Chandra said, that over time, companies offering stock options to fresh
graduates of the IITs have indeed increased in count. The reasons for the change
are many: start-up companies wanting to spruce up their offer, a bad economy
that is forcing the way hiring is done and organisations wanting to cut down
attrition.
Read full
article from Times of India
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