20% rise in number of companies offering placement at IITs

The Indian Institutes of Technology (IITs) across the country have recorded a 20-30% rise in jobs being offered to their students in the first phase of placements that ended last week.

According to the data, this year saw a 20% increase in the number of companies registering to offer jobs and the median salaries. More companies also meant more international offers.

At IIT-Bombay, 89 students were offered international positions by companies based in USA, Japan, Netherlands, Singapore, Taiwan and South Korea. “IIT-Bombay secured a total of 1,122 jobs (including pre-placement offers) from 361 companies. This is an all-time high for the first phase,” said a spokesperson of the institute, adding, “Forty-five first-time recruiters took part in the process. The highest domestic CTC offered this year stood at ₹45 lakh an annum, whereas the highest international package offered stood at USD 1,65,000 (₹1.15crore) an annum.”

Most IITs witnessed a rise in the registrations of core-engineering companies, especially for electrical, civil, mechanical and chemical engineering. Topping the list of number of offers at IIT-B was Samsung, with 27 positions for their offices in Korea, Bengaluru, Noida and Delhi.

At IIT-Madras, 92% registered students were offered a job in the first phase. “Artificial intelligence, data science, machine learning, stochastic modelling and predictive analysis seem to be upcoming sectors as the industry gears up to handle the exponential increase in organisations looking for talent with this skill-set. As expected, offers from core companies increased. Core companies, including those registering under the domain of information technology and others, yielded more than 70% offers,” said professor S Dharmaraja, head, training and placements, IIT-Delhi.

Officials from IIT-Kanpur said almost 55% of their batch was placed in the first week itself. “More than 80% of our batch has been placed in the first phase of placements, about 6% more than last year. Many of our students received multiple offers,” said professor Syam Nair, placements coordinator, IIT-Kanpur.

The highest package of the year went to a student from IIT-Roorkee, where Microsoft offered 22 jobs, including three international postings, offering the highest package of ₹1.5 crore (base salary plus benefits) to a student.

At IIT-Bombay, ₹1 crore-plus packages were offered by three companies, including Microsoft and Uber. Dutch trading firm, Optiver, offered an annual package of ₹81 lakh to another student of IIT-B.

“While a good market could be the direct reason for more jobs being offered to IIT students, the fact that more students also did well during their internships made way for more pre-placement offers,” said a spokesperson from IIT-Roorkee.

First Published: Dec 24, 2018 00:00 IST