IIT PLACEMENTS DROP
Two friends, similar JEE rank but different choices: One jobless; other gets Rs 50 LPA package
A recent engineering graduate from a Tier-2 college in Karnataka expressed his anxiety and regret after his friend, who attended a Tier-1 university after a gap year, secured a high-paying job. The graduate lamented the missed opportunities due to his college's limitations, while online community members offered mixed perspectives on the importance of early advantages versus skills and perseverance.
Stagnation in placements, salaries now affecting even elite institutes: Congress
The Congress party has voiced concerns about job market stagnation, citing a decline in placements at top Indian institutions like IITs, NITs, and IIITs. Data indicates a drop in placement percentages and average salary packages, even at these elite engineering colleges. This trend suggests a broader employment crisis affecting not just the informal sector but also highly educated graduates.
IIT graduates feel pay pinch as top offers dry up
Compensation for graduates from top 10 engineering institutes, of which eight are IITs, as ranked by the National Institutional Ranking Framework has declined marginally for the class of 2024, according to Deloitte campus workforce trends 2024 study.
Lack of mass hiring by Amazon and other big cos adds to the woes of IITD students amid 30% drop in job offers
IIT Delhi's 2024 placement season faced challenges as students struggled to secure roles despite approaching numerous recruiters. The demand for specialized skills and absence of top firms added to the pressure, reflecting the tough job market conditions.
IIT placements dip 15% in phase 1, but pay unchanged amid slump
The median CTC in FY24 stands at ₹20 lakh versus ₹22 lakh in FY23 and ₹19 lakh in FY22, as per an analysis of placement data from IITs by Careernet. The highest overseas package offered this year was ₹3 crore, up from ₹2 crore in the previous year. The analysis is based on the salary packages offered in the first one week of the current placement season across 22 IITs.
Despite market slump, IITs maintain compensation packages; brace for uncertainty in next round of placements
Compensation packages at India's leading Institutes of Technology (IITs) remain at the same level as the previous two years, but they are anxious about fewer placements in the next round, according to an analysis by Careernet. The median CTC in FY24 stands at Rs 20 lakh, compared to Rs 22 lakh in FY23 and Rs 19 lakh in FY22. The highest overseas package offered this year was Rs 3 crore, up from Rs 2 crore in the previous year.
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IIT Patna students get 147 full-time offers in ongoing first phase of placements
More than 65 companies have joined the placements, offering roles such as software engineer, digital consultant, business consultant, IT security engineer, product engineer, research engineer, electronics engineer and analyst. Last year, IIT Patna had received 281 offers in the overall first phase of placements.
Concerns rise as final placements at IITs show 15-30% decline in job offers for class of 2024
Indian Institutes of Technology are experiencing a decline in job offers for students of the Class of 2024, with the number of students receiving job offers down by between 15% and 30% compared to the previous year. This is particularly concerning as the old IITs of Delhi, Bombay, Kanpur, Madras, Kharagpur, Roorkee, Guwahati and Varanasi (BHU) set the bar for engineering placements in the country.
Students tense as old IITs start final placements
The Class of 2024 at the Indian Institutes of Technology (IITs) is anticipating a challenging placement season as the older IITs commence final campus placements amid a tech slowdown. While some students secured crore-plus offers, concerns linger about ensuring maximum placements in the current market scenario. Pre-placement offers (PPOs) from high-frequency trading firms have provided some relief.
Pre-placement job offers at the IITs bring relief
PPOs translate into jobs in hand for the students who have accepted them, even before final placements begin on December 1 at the old IITs. For campus placement teams, it means fewer students to place in a year when many companies have slashed hiring numbers, and some are skipping placements altogether.
Engineering colleges expand recruiters’ list; to boost campus hiring
With several other sectors such as technology and startups scaling back recruitment, institutes are exploring all avenues to ensure that as many students as possible graduate with jobs. From top league institutes like the IITs and others like the NITs to government engineering colleges in states, and private engineering colleges — all are expanding their recruiter list between 25% and 100% compared to previous years.
IIT final placements see more diverse sectoral mix of top recruiters
Companies from financial services, EPC (engineering, procurement and construction), education and manufacturing have held their own against technology biggies in terms of the number of students recruited, show data from IITs Madras, Roorkee, Guwahati and Hyderabad.
IITs see a mixed bag of job offers this season
Placement representatives told ET that students at IIT Bombay and Guwahati bagged more job offers this year compared with 2021. IIT-Delhi, Roorkee and BHU (Varanasi), however, have had to negotiate declines anywhere between 10% and 20% compared with last year.
IIT students secure over 130 Rs 1 crore-plus job packages
There has been some impact though: job offers with compensation of over Rs 1 crore have dropped at most IITs this year compared to last year when these campuses, as well as IIT Bombay, hit an all-time high record of crore-plus offers during final placements at about 185, as reported by ET earlier.
Old IITs bag highest Rs 1 crore-plus salary offers despite economic uncertainty
The IITs that have received these offers include Delhi (50-plus offers), Kanpur (33), Madras (25), Kharagpur (12 offers), Guwahati (8), Varanasi (4) and Roorkee (2).
Covid pandemic blues: Less than 200 IITians land international jobs
While some of the older campuses have seen a substantial reduction in international job opportunities, younger IITs have seen a marginal drop. Not only have offers reduced, even the compensation packages at India’s blue-chip institutes have shrunk.
International offers at IITs hit by the pandemic blues
Seven top IITs — Bombay, Madras, Kharagpur, Guwahati, Kanpur, Roorkee and BHU — have together received 137 offers for international locations till now for the class of 2021, less than half of the 305 offers the previous batch had received, according to data culled from the institutes’ placement cells.
Day 1 of IIT placements bring in fat salary offers
According to various campus placement cells that ET spoke to, big salaries were offered by the likes of B2B SaaS startup Ally.io with around $140,000 (Rs 1.03 crore) for an international role. Quantitative trading firm Graviton and proprietary trading firm Quantbox are offering salaries of around Rs 80 lakh, said campus placement members.
Oyo gives B-schools a miss amid company rejig
The SoftBank-backed hospitality chain, which is under pressure to rein in costs and streamline operations, has/will be giving most Bschools, including IIM Bangalore, IIM Calcutta, IIM Kozhikode and SPJIMR where it was a recruiter last year, a miss during final placements, the institutes told.
Slowdown signal: Top companies cold to IIT hiring season
Some of ‘Day One’ cos have either declined placement cells' requests or are yet to confirm their interest.
Early placement at IITs a hit with PSUs
At Rs 12-20 lakh a year, what they offered were more than the Rs 9-12 lakh an average IIT graduate got in campus placement last year.
It’s raining core sector jobs at IITs
“This is a result of the institute’s push over the last couple of years to encourage more core companies at the campuses,” said Debasis Deb.
New US visa policy stalls IITians' dollar dreams, focus on EU, Japan, Singapore
While firms are trying their best to get IIT graduates on board as promised, many on campus are wary of US offers in the upcoming placement season.
IIT graduates go for core sector jobs over fat pay package from startups
In a first, four out of every 10 offers made and accepted in IIT placements so far this year are from the core sector.
Figuring out 2016: Ten numbers that defined how careers shaped in India
15% drop in number of offers per company (on an average) this year at leading IITs in the first phase of placements
Job offers for global postings plummeted at IITs this year
IIT placement sources said that the companies’ increased focus on the India story and reduced US/Europe profiles have led to a decline in the number of foreign offers.
Cash-hit startups drop offers, mark down pay at campuses
Investors weary of startups burning their cash too fast have increased pressure on cos to clean up and hiring has become a big casualty of this.
Startups magic fades at IIT placements as companies face funding issues
Once the most sought-after for placements, some startups have started withdrawing job offers at IITs in Delhi, Mumbai, Roorkee and Guwahati.
Comeback time for tempting IIT offers
Surge in pre-placement offers hints at better season ahead and IITs may see average salary offers jump up to 20%.
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