The placement season at the prestigious Indian Institute of Technology (IITs) kick started on December 01, 2016 with a bang and is expected to lasts for two weeks. Renowned companies across the globe have started visiting the institutes with their to-be-offered lucrative packages. While last year it was Google, Microsoft and Oracle that stole the limelight on day 1 of placement, let’s have a look over the placement season 2016:
This year it’s Samsung which has offered a whopping package of Rs 78 lakh (base salary) on the day 1 of the placement season. Around 10 IITians have been selected by Samsung from IIT Bombay and the rest from IIT Delhi & IIT Kanpur. On Day 1, IIT Bombay saw the participation of 10 companies during the first slot between 8 am to 5:30 pm. Out of 300 students who appeared for the placement, only 20 got selected. Last year, over 60 students were placed during the first slot. In the second slot, there were 11 companies. This is the first time that Uber is visiting the IIT-B campus.
Companies like Microsoft, Samsung R&D, Goldman Sachs, Oracle, Uber, ITC and VISA visited IIT Madras. Uber, Microsoft and Oracle placed one student each during the graveyard slot. Second highest salary offer was made by the American company Uber International – the leading online transportation network company which offered a whooping package worth Rs. 75 lakh as the base salary at IIT-Madras during its graveyard slot.
Beating conventional wisdom, students at the Indian Institutes of Technology (IITs) are increasingly preferring profile over package, going by Day Zero placement trends. The number of government and manufacturing firms making campus recruitments has risen by 10 percent at IITs, with several engineering students preferring manufacturing and research jobs over those in information technology.
At IIT- Kharagpur, almost 90 students were placed at the end of two sessions on day one. Nearly 25 companies had come to the college. While IIT Kharagpur saw a decline in the number of companies, IIT Guwahati witnessed an increase in the number of companies on day one. One of the three who received the crore plus packages is from IIT Roorkee while two others are from IIT Guwahati. The ones who have got the biggest offers may have received postings abroad. While Microsoft India has offered such packages both at IIT Roorkee and Guwahati, Oracle India has offered this package at Guwahati. To be sure, these packages include base pay and allied company benefits.
There has been a significant drop in the number of companies this year, because, last year the association that handles the campus recruitment at various Indian Institute of Technology barred almost 31 startups from participating in their hiring process. Moreover, this year, many leading startups Flipkart, Ola and Snapdeal have decided to not take part in the hiring process at IITs.
This is so because, earlier this year, Flipkart faced flak from IIM Ahmadabad for delaying the joining date of the recruits. IIM-A wrote a strongly-worded letter to Binny Bansal and Nitin Seth of Flipkart. The institute said that this action of Flipkart was going to impact the company itself, B-schools and most importantly talented students and their families, in a negative manner. IITs said that while the flow of start-up firms has dried up significantly this year, core engineering jobs are coming in good numbers. Though it’s early, IITs are hopeful that the average salary package this time will see a growth between 10-12%.