If you’re an IIT or NIT graduate, there’s some great news for you. IIT and NIT graduates are set to receive a salary package of ₹1 crore (approximately $10 million). If you’re a young person who dreams of securing a job with a good and generous salary package after completing your studies, you should consider IIT or NIT. Students studying at IIT and NIT receive excellent packages. These packages can be up to ₹1 crore (approximately $10 million) or even more.
Students studying at IIT and NIT also receive campus placements, and these campus placements offer a chance of receiving packages exceeding ₹1 crore (approximately $10 million), which brings great joy to their families. But you might be wondering if you can truly receive a ₹1 crore (approximately $10 million) placement package after completing an IIT or NIT program. So, let’s explain the details.
If you’ve studied at an IIT or NIT and are placed in a one-year package of 1 crore rupees, we’ll provide you with information about how much money you’ll receive. If you’re also considering such an offer, be sure to consider the following points and what you might encounter before your placement.
How much money will you receive in a 1 crore rupee package?
You might have been overjoyed to hear about a 1 crore rupee package, but let me tell you, the amount doesn’t reach your account as much as it sounds. Let’s explain the reason. The real reason is that the companies offering you the placement claim the CTC (Cost to Company) as the package. This package can include various payments and benefits, all of which are included. For example, it includes salary, bonus, joining bonus, stock options, ESOPs, or RSUs. When you finally get a package of 1 crore rupees, this package may sound huge, but there’s a significant difference between the in-hand salary.
Learn the difference between CTC and in-hand salary
Suppose you’re an IIT or NIT student and your campus placement has fixed your package at 1 crore rupees. This 1 crore is for 12 months. Accordingly, you’ll receive 8 to 9 lakh rupees in your account every month. But did you know that you won’t receive that much money because the package is determined after including other benefits. CTC may also include amounts that aren’t paid every month.
Tax is also deducted from this salary, and this package represents 35-40% of the salary. This means, if calculated monthly, your monthly salary could be around 3-3.75 lakh rupees.
