 "IITs place up to 85% students in first leg of placements")
Phase-I of final placements at the Indian Institutes of Technology (IITs) has seen up to 85 per cent of students placed. IITs said start-ups ruled the roost on campus this year, doling out most of the job offers with handsome pay packages, pushing the average salary figures higher.
The IITs, old and new, will begin Phase II in January.
At IIT Bombay, placements this year have been better than last year's. The institute has already placed 1,000 students of the 1,200 registered for placements. Nearly 50 start-ups participated against 15 last year. Consulting firms also increased the number of offers this year.
Before inviting start-ups for campus placements, IITs in August had decided to review their balance sheets for the past three years, study their annual reports and seek independent feedback from experts, and the IIM alumni employed by these start-ups. However, with most start-ups having been floated by their own students, IITs decided to soften their stand and accept start-ups on campus.
IIT Bombay, which, like last year, opened Day 1 slot to manufacturing companies this year, too, said the response from these companies has been tremendous. The institute has placed 271 students already against a total of 274 placed last year. It is expecting a few more companies on campus in the next two days and then Phase II of placements.
IIT Guwahati has already seen over 60 per cent of its batch being placed. As against 109 firms last year, this year the institute saw over 150 firms making offers during the first phase. First phase of placements at IIT Guwahati saw almost close to 500 offers being made, which turned out to be 50 per cent more than last year's first phase of placements.
In terms of compensation packages, IIT Guwahati saw a 12 per cent rise in international offers and over 15 per cent in domestic offers. For instance, as against the highest international compensation package of $125,000, the institute saw a highest offer of $140,000. However, while the average compensation package rise has been about 13-15 per cent, the variable pay component rose at a higher rate of over 20 per cent, as compared to basic salary component, said institute sources.
IIT Madras also saw share of variable pay rising over basic. "There has been an overall increase of 10 per cent in the compensation packages. We do notice that companies have begun offering more portion of the variable pays. Typically, the packages include one-time signing bonus, first-year bonus, medical insurance, ESOPs and relocation allowance, apart from basic salary. However, the exact extent of increase in the variables is unknown as yet," said V Babu, advisor-training and placements at IIT Madras.
Despite having been cautious towards start-ups, IIT Guwahati saw a decent number of start-ups visiting the campus for recruitment.
"While the share of offers made by start-ups may not have risen significantly, some of the established start-ups did make their presence felt on campus. However, it was the marquee tech firms that continued to make a large number of offers. The manufacturing sector too had a decent show this year," said institute sources at IIT Guwahati.
At IIT Ropar, Dr Ravi Mohan Prasad, placement chairperson said the institute has seen more number of start-ups this year against last year and the average salaries have gone up by 10 per cent.
"We did not have any international company participating due to the H1B visa issue. We saw many core companies participating and we are happy with the outcome so far. We, however, would like data analytics companies on campus too," said Professor Prasad.
On the other hand, refusing to divulge elaborate placement details, IIT Gandhinagar said that the several companies, including Texas Instruments, Samsung, Tata Motors, HSBC, ZS Associates, Wipro Ltd, Arvind Infrastructure, Cognizant and others are taking part in the recruitment this year.
"Close to 200 students are taking part in the placement this year. A large proportion of the placement will be over by around the end of the first quarter next year and by then, we will be able to provide you more insightful details," placement officials at IIT Gandhinagar stated.
The IITs, old and new, will begin Phase II in January.
At IIT Bombay, placements this year have been better than last year's. The institute has already placed 1,000 students of the 1,200 registered for placements. Nearly 50 start-ups participated against 15 last year. Consulting firms also increased the number of offers this year.
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"BCG, Bain Consulting and AT Kearney are among the consulting companies, which offered increased number of consulting jobs. Salary packages from start-ups have been good," said a placement official from IIT Bombay. Nearly 300 students at IIT Bombay have either opted to pursue higher studies, float their own ventures or prepare for competitive examinations.
Before inviting start-ups for campus placements, IITs in August had decided to review their balance sheets for the past three years, study their annual reports and seek independent feedback from experts, and the IIM alumni employed by these start-ups. However, with most start-ups having been floated by their own students, IITs decided to soften their stand and accept start-ups on campus.
IIT Bombay, which, like last year, opened Day 1 slot to manufacturing companies this year, too, said the response from these companies has been tremendous. The institute has placed 271 students already against a total of 274 placed last year. It is expecting a few more companies on campus in the next two days and then Phase II of placements.
IIT Guwahati has already seen over 60 per cent of its batch being placed. As against 109 firms last year, this year the institute saw over 150 firms making offers during the first phase. First phase of placements at IIT Guwahati saw almost close to 500 offers being made, which turned out to be 50 per cent more than last year's first phase of placements.
In terms of compensation packages, IIT Guwahati saw a 12 per cent rise in international offers and over 15 per cent in domestic offers. For instance, as against the highest international compensation package of $125,000, the institute saw a highest offer of $140,000. However, while the average compensation package rise has been about 13-15 per cent, the variable pay component rose at a higher rate of over 20 per cent, as compared to basic salary component, said institute sources.
IIT Madras also saw share of variable pay rising over basic. "There has been an overall increase of 10 per cent in the compensation packages. We do notice that companies have begun offering more portion of the variable pays. Typically, the packages include one-time signing bonus, first-year bonus, medical insurance, ESOPs and relocation allowance, apart from basic salary. However, the exact extent of increase in the variables is unknown as yet," said V Babu, advisor-training and placements at IIT Madras.
Despite having been cautious towards start-ups, IIT Guwahati saw a decent number of start-ups visiting the campus for recruitment.
"While the share of offers made by start-ups may not have risen significantly, some of the established start-ups did make their presence felt on campus. However, it was the marquee tech firms that continued to make a large number of offers. The manufacturing sector too had a decent show this year," said institute sources at IIT Guwahati.
At IIT Ropar, Dr Ravi Mohan Prasad, placement chairperson said the institute has seen more number of start-ups this year against last year and the average salaries have gone up by 10 per cent.
"We did not have any international company participating due to the H1B visa issue. We saw many core companies participating and we are happy with the outcome so far. We, however, would like data analytics companies on campus too," said Professor Prasad.
On the other hand, refusing to divulge elaborate placement details, IIT Gandhinagar said that the several companies, including Texas Instruments, Samsung, Tata Motors, HSBC, ZS Associates, Wipro Ltd, Arvind Infrastructure, Cognizant and others are taking part in the recruitment this year.
"Close to 200 students are taking part in the placement this year. A large proportion of the placement will be over by around the end of the first quarter next year and by then, we will be able to provide you more insightful details," placement officials at IIT Gandhinagar stated.