E-StoreIIT Placements not as good as before
The average pre-placement salaries offered to students of India's foremost technology schools (IITs) are lower by about half this year as compared to the same time last year, according to sources.
The number of companies who have registered for final placements too, has drastically dropped by 45% this year, experts said on condition of anonymity.
The average salary for students passing out this year has significantly dropped from Rs9 lakh earlier to Rs5 lakh, said officials at IIT Bombay.
The students from IIT Kharagpur face an even graver situation with their salaries dropping 65% to Rs4 lakh.
Only 12 companies have registered with IIT Bombay for the final campus placements so far, as compared to 45 companies by October last year. At IIT Kharagpur, 10 companies have registered for the final placement, down from 38 earlier.
Registrations at IIT Lucknow have dropped to eight from 25 last year and at IIT Kanpur by 48% to 12.
Experts say one main reason for the drop in registrations could be that some large companies like Accenture, Wipro and Infosys may visit campuses only in March next year.
Earlier reports however suggest that all the seven IITs have seen a rise in job offers made to students this year, as Indian corporates have started hiring in big numbers propped-up by the revival of the economy.
"Things are better this year and we even see a 10-20% increase in average salaries," says Prof PK Jain who is taking care of campus placements at IIT-Roorkee.
Many public sector companies, particularly in the core sector, have shown interest in placements. IITs also expect big recruiters like Larsen & Toubro, Gas Authority of India, Tata Motors, Oracle, JP Morgan and Tata Consultancy Services (TCS), who pick up 10-15 students, to return this placement season.
Schlumberger, the world's largest oilfield-services provider that gave the highest package of $100,000 last year, is also expected.
Adobe Systems, will recruit 4-5 graduates from each of the seven IITs, while finance companies Goldman Sachs and Deutsche Bank have already made some offers.
Source : MSN
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