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  #1 (permalink)  
Old 12-06-2010, 09:54 AM
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Default Is salary in India so high?

Facebook offers Rs 70 lakh job to IITian - The Times of India

Facebook offers Rs 70 lakh job to IITian

Read more: Facebook offers Rs 70 lakh job to IITian - The Times of India IIT student gets Rs 70 lakh job offer from Facebook - The Economic Times

CHENNAI/MUMBAI: Facebook on Friday recruited one of its addicts from India. The website, which recently logged its 500 millionth active citizen, made an offer of about Rs 70 lakh for a posting in the United States, which has created a buzz on all IIT campuses where annual placements are on.

In the last three days, no other company, domestic or foreign, has come close to offering this kind of a compensation package.

While Facebook is still interviewing more IITians, the student in question, who gives his name as DKS — he is to graduate from the school of computer science and engineering at IIT-Kharagpur in 2011 and doesn't want his full name to be revealed — has received a '' join-us'' post from the website.

On his wall, DKS announces how he is hooked to Facebook, which cuts his day by half. He now knows that the social networking site, known as the Big Boss of the web-world, will eat up his days.

On the offer letter, officials from IIT-Kharagpur said Facebook offered a starting salary of $90,000, a relocation bonus of $10,000 and a one-time signing amount of $25,000 to the 21-year-old from Jamshedpur. But on the Kharagpur campus, students said DKS had also been offered ESOPs and the entire offer translates to about Rs 1.7 crore.

However, sources in the placement cell did not confirm this. DKS, whose father is a government employee, has in his time at IIT interned as a research assistant at the University of British Columbia and at Microsoft India.

Interviews were on till late Friday at IIT-Madras where Facebook shortlisted 10 students. But, after several rounds of interviews, it did not select anyone from IIT-Delhi. Close to 30 students were placed from IIT-B on Friday.

At IIT-Madras, the highest domestic offer on Friday came from Transocean, which offered Rs 28 lakh and the high point of the day was when Intel offered positions to 30 students.

At IIT-B, Tower Research which offered jobs to six students, was among the high paying companies. Several financial institutions — Goldman Sachs, Bank of American, Deutsche Bank, Citibank, Capital One — have made a come back after lying low in the recessionary years.

N Ramesh Babu, adviser (training and placement), IIT Madras, is both excited as well as in a dilemma of sorts with 250-odd recruiters comprising a mix of old and new economy having lined up in close slots till end-January 2011.

''We are in a position where, say, after 20 days you may not have enough students for recruitment. We have not been able to give dates for some companies.

Most companies which hire here, will also be going to the other IITs,'' he said. In the last two days, IIT-Delhi too has seen 110 students being offered jobs


Read more: Facebook offers Rs 70 lakh job to IITian - The Times of India IIT student gets Rs 70 lakh job offer from Facebook - The Economic Times
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  #2 (permalink)  
Old 12-06-2010, 10:15 AM
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Default It's U.S Salary

This is equivalent to $155,000/year. Indian companies like to report CTC (cost to company/compensation) rather than gross salary. So $155k CTC doesnot sound out of normal range salary ($90K gross +relocation+1 time sign-on+benefits (401k,medical, dental, bonus etc)) for someone working for a big tech firm in California.

Last edited by PHANI_TAVVALA; 12-06-2010 at 10:20 AM.
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Old 12-06-2010, 11:56 AM
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Default Yes that may be big for Freshers

If you read the post , they say 21 year old means fresh graduate (bach.), it is very high for that age with no or less experience. here in california also freshers get 50-60k start..
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  #4 (permalink)  
Old 12-06-2010, 12:19 PM
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Originally Posted by vidyakulkarni View Post
If you read the post , they say 21 year old means fresh graduate (bach.), it is very high for that age with no or less experience. here in california also freshers get 50-60k start..
That depends on company, job-title. Ofcourse, this is still high for a fresher, but you can't compare 50-60K to facebook job. This kid must be extremely smart. 50-60K would be for some lucky fresher coming out of an avg university in US. Even folks for decent US univ's get close to 100K in Cali. (Depends on company and pos).
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Old 12-06-2010, 04:05 PM
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Default

This guy is from IIT which is at par with MIT, Cornell and other top notch technical schools so this pay package ($ 155k gross) is not surprising.
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Old 12-06-2010, 04:42 PM
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Wink Salary is 38 Lakhs

I think the salary is 38 Lakhs and not 70 lakhs

Facebook offers Rs 38 lakh salary package to IIT students - LearnHub News
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Old 12-06-2010, 07:43 PM
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My brother chose to leave USA on his own, after working for 6 years, without applying GC. He was getting 120K here in USA. In India, he joined Oracle Corp and his salary is almost same (about Rs.55Lacs). Indian salaries are becoming excellent these days.
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Old 12-07-2010, 12:51 PM
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Default Doesn't make sense!

I do not understand why Indian news papers tout salaries offered to IIT/IIM graduates in foreign companies in overseas locations. It’s a net loss for the country…

First of all, salaries are not exceptional when compared to overseas salaries (for a similar position in a similar company) and secondly, most of these graduates are taking their skills, earned through subsidized education provided by the generous Indian government in IITs/IIMs, to a foreign country.

-CinBoy
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Old 12-07-2010, 04:05 PM
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Originally Posted by gcwait2007 View Post
My brother chose to leave USA on his own, after working for 6 years, without applying GC. He was getting 120K here in USA. In India, he joined Oracle Corp and his salary is almost same (about Rs.55Lacs). Indian salaries are becoming excellent these days.
Which position did your brother apply for and which technology?. 55 lakhs is too high for a person who has only 6 years of US experience.
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Old 12-07-2010, 05:58 PM
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Originally Posted by uma001 View Post
.....
55 lakhs is too high for a person who has only 6 years of US experience.
Not really .... My brother worked in India for 3 years and worked here in US for 5 years before moving back to India and he is earning good too.

Salary for any job depends on lot of factors. How one negotiates is a key factor.



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  #11 (permalink)  
Old 12-07-2010, 07:13 PM
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Originally Posted by desi3933 View Post
Not really .... My brother worked in India for 3 years and worked here in US for 5 years before moving back to India and he is earning good too.

Salary for any job depends on lot of factors. How one negotiates is a key factor.

Cool how did he find the job, did he go through a recruiter from here or did he first land there and then search for a job?
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  #12 (permalink)  
Old 12-09-2010, 09:30 PM
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Default $120K in India

Pardon my ignorance!

My understanding was American companies are setting up shops in India for cheap labor and still provide services for mostly American consumers and not Indians. And for Oracle they can bring any number of Indians here on H1/L1/B1 visas. So what make them pay $120K in India (I assume he is still a software engineer, else he would have been getting more than $120K here!)

Quote:
Originally Posted by gcwait2007 View Post
My brother chose to leave USA on his own, after working for 6 years, without applying GC. He was getting 120K here in USA. In India, he joined Oracle Corp and his salary is almost same (about Rs.55Lacs). Indian salaries are becoming excellent these days.

Last edited by gulute; 12-09-2010 at 09:34 PM. Reason: ...
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  #13 (permalink)  
Old 12-10-2010, 12:15 AM
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Default

Quote:
Originally Posted by desi3933 View Post
Not really .... My brother worked in India for 3 years and worked here in US for 5 years before moving back to India and he is earning good too.

Salary for any job depends on lot of factors. How one negotiates is a key factor.



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I am skeptical about these high salaries. Companies have range for each position. good negotiation may get you the higher end but you can not go from 25L to 45L by negotiating.

The media there (and ppl too) like to talk about high salaries. This facebook article shows ppl obsession on the topic and a whole article about one studen't offer is ridiculous and vulgar in a way .
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