IIT Freshers Being Offered Rs 60,000 Salary: State Of Jobs In India


Mohul Ghosh

Mohul Ghosh

May 06, 2024


Despite the annual excitement surrounding placement seasons at Indian Institutes of Technology (IITs), the graduating batch of 2024 faces unprecedented challenges in securing lucrative job offers. The global economic slowdown has compelled companies to curtail hiring and offer reduced salary packages, significantly impacting students across prestigious IIT campuses.

https://economictimes.indiatimes.com/jobs/hr-policies-trends/iit-graduates-struggle-with-limited-placement-opportunities-and-lower-salary-packages/articleshow/109490427.cms?from=mdr

Impact of Economic Downturn: The prevailing global economic slowdown has triggered a downturn in campus placements, with recruiters showing diminished hiring enthusiasm compared to previous years. At IIT Indore, Director Suhas Joshi highlighted the strain caused by reduced hiring numbers, necessitating innovative strategies to navigate the challenging placement season.

Challenges Across IIT Campuses: Students at various IITs, including Bombay, Kharagpur, and Delhi, are grappling with similar adversities. The drastic reduction in hiring numbers has led to a sharp decline in job opportunities for graduating students. Companies that were once prominent recruiters are now significantly downsizing their intake, leaving many students without viable prospects.

Shift in Placement Dynamics: The ongoing crisis has compelled students to explore alternative avenues for employment, such as job portals and off-campus opportunities. Moreover, phase two of campus placements has witnessed a significant drop in salary packages, with some companies offering meager compensation as low as Rs 60,000 to Rs 80,000 annually.

Strategies to Navigate the Crisis: IITs are actively implementing countermeasures to alleviate the impact of the economic downturn on placement outcomes. Initiatives include leveraging alumni networks, engaging with a broader spectrum of recruiters, and organizing specialized placement drives for niche sectors.

Emergence of New Opportunities: Amidst the prevailing challenges, certain sectors, particularly those specializing in artificial intelligence and machine learning, are experiencing heightened demand for skilled professionals. However, this shift towards specialized skill sets poses a challenge for students with broader technical expertise.

Conclusion: The current scenario underscores the resilience and adaptability of IITs in navigating turbulent economic conditions. Despite facing unprecedented challenges, students and institutions alike are leveraging innovative strategies to mitigate the impact on placement outcomes. As the global economy gradually recovers, concerted efforts from all stakeholders will be crucial in revitalizing campus placements and ensuring brighter prospects for graduating students.


Mohul Ghosh
Mohul Ghosh
  • 1730 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online