As the placement season at Indian Institutes of Technology (IITs) across the country draws to a close and the shadow of the pandemic has largely lifted, faculty members say overall 2022-23 is better than last year for student placements, amid a slowdown in several advanced economies on campuses of some top tech firms. was away from The bright side is that more core engineering students are being placed this year than in the past few years.
The campus placement season, which began phased in the first week of December across the 23 IITs, is currently in its final phase with most of the students already placed, which officially lasts till June 30.
Faculty members overseeing placements at both IIT-Madras, IIT-Bombay, and IIT-Kanpur, the first generation of IITs, said this year has been better than the last three pandemic years, despite offering more students from core engineering streams. recession
According to IIT-Madras advisor (placement) Prof Satyan Subbiah, a total of 1427 students were placed this season, compared to 1238 in 2021-22 and 925 in 2020-21. While computer science engineering remains at the top, overall recruitment has increased in core disciplines including electrical, mechanical and engineering design.
“Despite the recession, core industries are hiring more actively. IIT Madras start-ups like Agnikul are becoming big recruiters. Also, high-frequency trading (HFT) firms have seen a significant increase in campus recruitment International offers are also showing an increasing trend,” said Prof. Subbiah. Although it is the end of the season, some companies are still registered on the institute’s portal and it will do the same for potential placements, he added.
Some of the companies that have landed on the IIT campus include Wells Fargo, Graviton, Plutus Research, Sprinkler, JPMorgan Chase & Co., Flipkart Internet Pvt Ltd, Zomato, Uber, Accenture Japan Ltd, Navi, Confluent, AQR Capital, Microsoft. , Google, American Express, Paytm, Warner Brothers, VE Commercial Vehicles, BEL, Maruti Suzuki, Mercedes Benz, Royal Enfield, Tata Technologies, HCL, Infosys, TCS, L&T, Kotak, Deloitte, Cognizant, Texas Instruments, Bajaj Auto, Proctor & Gamble, Morgan Stanley, McKinsey & Company and Cohesity, among others.
Top IT firms like Amazon, Google, Meta and Salesforce, which were the biggest campus recruiters, however, were not seen making many offers with some like Microsoft already making a few pre-placement offers (PPOs). These tech giants laid off a significant number of employees at the start of the year citing over-hiring and financial stress as the main reasons behind this.
“These organizations basically remained on campus this year while some of them made PPOs before the season officially started. PPOs are based on an internship in the final year,” said a senior faculty member at IIT, who did not wish to be named.
The placement began last December amid layoffs at major tech firms and fears of a global economic slowdown, with some relief that developing economies like India would not be similarly affected. The International Monetary Fund’s (IMF) World Economic Report titled ‘A Rocky Recovery 2023’ released this April said advanced economies are expected to experience a particularly pronounced growth slowdown from 2.7% in 2022 to 1.3% in 2023.
Although IIT-Bombay has not shared the placement figures, it has already wrapped up the season with its commencement ceremony (being held at the convocation venue). Director of IIT-Bombay Subhashis Choudhury said, ‘This year was better than last year, with the highest number of students getting placements from the core engineering stream. This time their number is the highest. A big reason for this could be the pandemic behind us.”
Keeping a high number of students in core engineering is an important trend this year as computer science and emerging technologies like AI and robotics, among others, have remained the top choice for entrants to IITs over the past few years while core subjects have been less subjects in engineering colleges across the country.
A student placement officer at the institute, who did not wish to be named, said that while overall placements have increased this year, top tech giants are not hiring as much. “Some big organizations have done a few PPOs, but they have not actively participated in campus recruitment this season. Also, the highest package of Rs 3.67 crore was offered by one of the international firms that came for recruitment,” said the student.
At IIT-Guwahati, faculty members said the number of recruitments has crossed 1000 for the first time. A total of 1070 students have been placed so far and placements are still going on. The number was 954 in 2021-22 and 734 in 2020-21.
Prof. Lalit Pandey, Head, Center for Career Development, IIT-Guwahati, said that the total number of offers is better than last year. “This year around 75% have been placed across departments till date, indicating a good placement scenario for all branches. In general, students of circuitous courses including Computer Science, Electrical and Electronics, Robotics and AI, Mathematics and Computing and Data Science get the highest number of offers,” said Pandey.
The top five recruiters on campus include Narayan, Oracle, Microsoft, NoBroker and Jio, he said. The highest offer made this season was Rs 2.40 crore. In 2021-22, it was Rs 2.05 crore.
Second-generation IITs, including Jodhpur, Varanasi and Mandi, have also said they have retained more students across the discipline with a higher number of offers by start-ups.
“For the 2023 passing out batch, a total of 376 students have got places in B Tech, M Tech and MBA courses. 314 students were placed last season compared to 134 in 2020-21. Electrical and mechanical engineering streams had the highest offers followed by computer science/AI,” said Anuj Pal Kapur, Assistant Professor and Chairperson, Corporate Connect and Campus Placement, School of Management and Entrepreneurship (SME) Institute.
The highest salary of the 2023 passed batch is 53 LPA (in lakhs per annum) by a start-up, followed by 51 LPA by a world-renowned software firm. Last season it was 46 LPA while in 2020-21 it was 41 LPA, he added.
Faculty members of IIT (BHU) Varanasi said that a total of 1087 students have joined the discipline, compared to 1078 last year. The total number of international offers was 46, up from 32 last season. Apart from mechanical, electrical and civil, core disciplines including metallurgy, mining and pharmacy received the highest number of international offers. “This is a change from the last few years when computer science engineering students got most of the international offers,” said a senior faculty member of the institute.
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