confused between 2 offers I got as a fresher after college and both are pretty good organization in it's own

Hey everyone, I’m a recent B.Tech CS graduate and would really appreciate some honest advice from those in the industry.

I have two offers:

Option 1: IBM – Associate System Engineer

CTC: 4.5 LPA

Training in Bangalore, then relocation based on business needs

Pros: Well-known brand, stable job, structured training

Cons: Pay is low, roles may be support-oriented, limited say in location or tech stack

Option 2: S&P Global – Software Development Apprenticeship

Duration: 12 months

CTC (if converted): 9 LPA

Location: Likely Noida or Gurgaon (I’m from Delhi, so NCR is preferred)

Pros: Better pay if converted, hands-on dev role, good tech stack, global FinTech company

Cons: Apprenticeship, so conversion is not guaranteed (though I've heard it’s likely with decent performance)

A bit about me:

I’m interested in software development, want strong tech exposure early in my career

Location matters to me due to family, and being from Delhi makes NCR a big plus

I also plan to pursue a Master’s abroad (CS/Data Science) in the next 2–3 years, so I’m thinking about what would strengthen my profile

My current dilemma: IBM is more stable from day one, but the role may not offer much in terms of learning or growth. S&P Global seems better for tech exposure and compensation (if converted), but it does come with some risk.

If anyone has experience with either company or has been in a similar position, I’d love to hear your thoughts. What would you do in my place?

Thanks in advance.