As compared to the general stellar placement seasons in India’s most prestigious engineering college, IITs, this season has seen a lacklustre response.
Challenges in Campus Placements
As per a report, there have been companies offering annual packages below ₹10 lakh this year as companies continue to scale back on hiring altogether.
Companies that previously hired at least 5-6 people, are now only picking up 1 or 2 candidates. As per a source privy to the placement scenario, “The scenario now is that many students are taking up jobs offering the bare minimum threshold salary of ₹6 lakh a year but are looking for other jobs.”
Director of IIT Indore, Suhas Joshi speaking on the impact of slowdown on campus placements said that “The global economic slowdown has significantly impacted the campus placements for the 2024 graduating batch of IIT Indore. The reduced hiring numbers of recruiters compared to the previous year have resulted in a challenging placement season. To offset the impact, IIT Indore has taken early steps by tapping into alumni networks and has broadened its pool of potential employers, including PSUs.”
Campus Placements – Insights from IITs Across India
As per a student of IIT Bombay expressing dismay, “Companies that till last year picked 5 to 8 students are picking 1 or 2 this year. Several are still not yet hired. From coaching classes to start-ups, some have recently been picked for salary packages of ₹60,000 to ₹80,000 in phase 2.”
Another student from IIT-Kharagpur reported that “Spectrum Technologies offered ₹3.6 lakh for trainee engineers and ₹6 lakh for trainee design engineers. Startoon Labs and Gem Machinery offered ₹5.5 lakh annually. Skyroot offered ₹5 lakh. Sri Chaitanya and Next Education offer ₹4.8 to 6 lakh per annum.”
The report also claimed that majority of IIT Delhi graduates are still looking out for employment opportunities through the Office of Career Services (OCS).
As many as 40% students are yet to find the jobs. Out of 1814, 1083 students have secured jobs.
Moving on to one of the most pertinent questions, whether or not every course is impacted?
The answer to this question is that 81% of 903 participants at IIT Delhi’s undergraduate programs have secured job offers.
