It is Day 1 of final placement at IITs, Microsoft and Oracle are all set to offer crore-plus salaries

Microsoft and Oracle are all set to hire young engineers on Day 1 of final placements at Indian Institutes of Technology (IITs) and offer them fat packages.

Microsoft and Oracle are going to offer such international salary packages in at least four campuses - Mumbai, Kharagpur, Guwahati and Roorkee.

As per reports, Microsoft is likely to offer about $106,000 (Rs 72.5 lakh) and Oracle is said to be paying marginally less. Apart from salaries, the fresh graduates will get variables, employee stock option plan, joining bonus and relocation costs. And all this will sum to around Rs 1.2 crore.

December 1 is known as Day 1 of final placements at IITs.

"With campus hiring being an important source of talent, IITs form a key part of our campus hiring strategy, delivering some of the brightest talent for our business. Our pace of hiring from IITs has remained steady and this momentum will continue across IIT campuses this year as well,” Rohit Thakur, senior director - HR, Microsoft India, said in response to an ET query.

Meanwhile, Google will not hire from the institutes and plans to recruit directly.

Also, this year startups have been banned from participating in the recruitment and PSUs have been, yet again, given a chance to hire IIT students.

In a first, many PSUs are already lined up at most of the IITs for the first phase of placements.