First phase of IIT placements is now over. The first phase of placement process in 2015 was in news for very high salary packages offered by different companies to the students of differnt IITs. This year's placement was different in many ways as some of the students declined crore plus packages, more than 50% of batch got placed inall the IITs and in IIT Bombay 1000 job offers are made to the students. Following article covers such type of 5 major trends which were not in the IIT placement of previous years.
1. High salary packages:
The major trend in this year’s placement at IIT was the salary packages. As per the different sources, the highest salary package was of INR 2.0 crore. The package was offered by the oracle to a student of IIT-BHU and also by the Facebook to a student of IIT-Bombay. So many companies offered the package of more than 1 crore to the students of IITs.
Another important aspect related to such high packages is that only 2 – 3% of the whole batches are able to avail such good packages. The average package in IITs is always in lacs and very few (sometimes 1 or 2) are able to get such salaries. Moreover such packages are mostly offered to in the foreign locations. Sometimes it is also considered that these data are based on the unofficial inputs as there is no official verification for such high packages.
2. Major recruiters are IT & E-commerce companies:
In the current placement season IT and E-commerce companies have led recruitments at the IITs. Except these companies various other companies like automobile industries, chemical industries, infrastructure companies and other highly renowned companies have also visited the IITs. Another very surprising trend was that the new companies have also recruited a good number of IITians and offerd good packages to them.
The new companies included Nutanix, BrowserStack, OyoRooms, GetMeAShop, Edgeverve, Clavileno Capital, Practo and Sigmoid Analytics. But the top recruiters at the IIT campuses were Google, Microsoft, Oracle, Facebook, Flipkart, VISA Inc, Maruti Suzuki, TVS, Tata Motors, General Motors, Reliance, Goldman Sachs and ICICI Lombard. However, in a few IITs, students’ inclination was observed towards Core-Engineering sector.
3. A large number is placed in small time:
In the first phase of the placement season at IIT, nearly half of the batch in some IITs got placed, which can be considered as a good season from placement point of view as more number of students got the placement offers than last year.
The students of IIT-Bombay received a total of 1,220 job offers in the first 12 days of the placement season. Moreover the placement trend in IIT-Bombay was higher in second half of the placement season (i.e. in last 15 days of December) than the first half of the season.
At IIT-Madras, out of 1,360 students 900 students participate in the placement process (Rest to participate in the next round of placement). Around 300 domestic and international companies participated in the placement process at IIT-Madras. As per the records of 2014, more number of companies participated in the placement drive of 2015 than last year to recruit almost equal number of students.
At IIT-BHU, around more than 550 job offered, out of which 510 offers have been accepted by the students of IIIT-BHU. The average annual package offered by all the companies to the students of IIT_BHU is around 12 lakh per annum.
The same trend has been followed at the IIT-Roorkee campus, where more than 100 companies offered 500+ jobs to the students.
These trends state that all the global and Indian companies are highly interested in recruiting the students from most reputed engineering colleges of India. Placement of more than 50% students in just one month implies that there is a huge demand of good engineers at the national and international level
4. Preference to Indian companies as well:
At IITs major recruiters this year were Google, Oracle, Facebook, Microsoft, Olacabs, VISA, and Honeywell but ‘Make in India’ concept, recently introduced by Government of India, was promoted in a big way at IITs in this placement season. This year the preference has been given to the core engineering companies of India.
Along with IITs, NITs have also been influenced by ‘Make in India’ concept, where more Core-Engineering companies have offered jobs to the students. Also, the students at NITs have shown great interest towards the jobs in manufacturing sector of India.
5. Decline good packages:
Another new trend that was quite astonishing was to decline such good packages by the students. In previous years, the students were more inclined towards the placement but in 2015 many students have not even participated in the placement drive or refused the job offers from companies just for sake of their further or for sake of their own ventures. These refusals also include the students who were offered a crore or crore plus packages. Various media reports also support this fact as more number of students has opted out of placement process than the last year.
Moreover IITs are also supporting the students who prefer their own ventures over a placement in a company as these institutes provide environment in terms of assistance and guidance to them in their pursuit of entrepreneurship dreams. Like, IIT-Bombay conducts year-long entrepreneurship sessions for the growth of future entrepreneurs.