Edward Nathan Varghese, a 21-year-old Computer Science Engineering student from IIT Hyderabad, has created history by securing a record annual job offer of Rs 2.5 crore, the highest package ever offered at the institute since its inception in 2008. The job offer is from a Netherlands-based trading company named Optiver, and it follows the successful conversion of a summer internship to a Pre-Placement Offer (PPO).
In commemoration of the achievement, IIT Hyderabad recently released a video of a meeting between Varghese and Prof. B. S. Murty, the Director of the institution. The interaction provided a peek into the educational background of the Edward. Posting the video on their X (formelly Twitter), IIT Hyderabad captioned, "It was a proud moment when Varghese shared his experience of the rigorous academics, mentorship, and ecosystem at IIT Hyderabad, which shaped his journey, at a meeting with Prof. B. S. Murty, Director, IIT Hyderabad."
During the interaction, Prof. Murty started by congratulating the student and saying, “You have really made IIT Hyderabad proud. Thank you very much for your hard work.” Varghese thanked the institute’s selection process and unique academic system for his success. He said the offer came through the Office of Career Services (OCS) and added that he never expected something of this scale, pointing out that the companies brought to campus played a crucial role.
The conversation then turned to IIT Hyderabad’s much-discussed fractal academic system. When asked whether this has helped, Varghese answered in the affirmative and emphasised the importance of mini-projects and learning activities. Prof. Murty said: "In fact, imparting communication skills and developing personality are also equally important. We have courses in languages and liberal arts, which help make the student a well-rounded person. The institute has been emphasising this right from the start."
Varghese was one of only two students accepted for the Optiver internship and the only one to be offered a full-time position after comprehensive training and the completion of a project. Born and raised in Hyderabad, he studied in Bengaluru from Class 7 to 12 before joining IIT Hyderabad. He is set to join Optiver in July.
As per the reports by the media, the only company that Varghese interviewed with was Optiver. The fact that he got the opportunity through his mentor's reference brought immense happiness to both him and his parents. Realising that the IIT label ensures that only the best companies recruit from these institutes, he was of the view that the effect of the tougher market would be minimal.
Since his first year, he had been actively engaged in the field of competitive programming and had made it to the top 100 in the nation, which made his portfolio much stronger in the interviews.
The Rs 2.5 crore offer far surpasses IIT Hyderabad’s previous highest package of around Rs 1 crore, recorded in 2017. It comes amid an exceptional placement season at the institute, where average packages reportedly rose by nearly 75 per cent, alongside multiple international offers.
