No hiring downturn at IITs as international firms pitch job offers

Consulting, finance, core and international trading companies take the lead in chasing talent

International technology firms are bracing for business slowing down, but during the hiring season starting December 5 at the Indian Institutes of Technology they offered jobs promising the best salary.

At IIT Delhi, around 20 students received international job offers this year from companies in Hong Kong, Netherlands, Singapore, South Korea, Taiwan, the UK, and the US.

IIT Kharagpur got 42 international offers: 28 coming from Japan, nine from Taiwan, three from the US and two from Singapore.  

Software firms kept low in making offers, prompting consulting, finance, core and international trading to take the lead. “While the software sector has been watchful of the US market and has not opened up all profiles for hiring, unlike previous years, other sectors have compensated for the same. Even newer sectors like quantitative and international trading, which have been picking up gradually, have made more than one offer this year which is a welcome change,” said Professor A Rajakumar, chairman of career development centre at IIT Kharagpur.

International and domestic jobs offers increased across IITs despite the challenging hiring scenario in 2022. IIT Kharagpur received 10 job offers ranging between Rs 1 crore and Rs 2.65 crore from domestic and international companies in analytics, software, finance-banking, supply-chain-logistic, consulting, core-engineering, high frequency trading, and other sectors.

Finance and consulting majors Capital One, Boston Consulting Group, Bain & Company, McKinsey & Company, and Square Point Capital were among the top recruiters at IIT Kanpur.

At IIT Madras top recruiters included Bain and Company, Goldman Sachs, Qualcomm, Boston Consulting Group, JP Morgan Chase & Co, Morgan Stanley, McKinsey, and Microsoft.

IIT Guwahati, too, saw offers for core engineering, IT, Finance and analyst profiles.

At IIT Kanpur, international offers increased 53 per cent to 72 compared to 47 international offers last year. “We are delighted with the number of offers that have come our way at the start of the placement season 2022-23. The overall uptick in packages offered and new recruiters joining in, signifies the growing trust the recruiters have on IIT Kanpur,” Professor Abhay Karandikar, director, IIT Kanpur.

IIT Kharagpur had more than 1,300 offers this year at the end of Day 5 of placements, receiving a thousand within two days. 

According to the institute, it got the highest job offer of Rs 2.68 crore during this placement season. Rs 4-crore packages at IITs Delhi and Bombay were made months before the final placement process began. 

At IIT Delhi, more than 50 students got domestic offers with annual cost to company (CTC) of more than Rs 1 crore. The institute recorded a 20 per cent increase in the number of job offers received over last year.

On the first day of placements, IIT Guwahati received the highest international Offer of Rs 2.4 crore and domestic offer of Rs 1.1 crore.

On the other hand, a total of 25 offers with pay packages in excess of Rs 1 crore per annum were made at IIT Madras at the end of an early session on Day One. Further, a total of 15 international offers were received from four companies at the end of Session 1.1 at IIT Madras.

At IIT Kanpur, the highest package so far this year for domestic was Rs 1.9 crore, while there are a good number of packages from international recruiters as well. 

Job trends

• Over 60% of global offers at IIT Kharagpur (IIT KGP) from Japan
• 20% rise in international offers at IIT KGP
• 53% rise in overseas offers at IIT Kanpur
• Rs 2.68 crore is the highest international package at IIT KGP
• Rs 2.4 crore is the best international package at IIT Guwahati
• Rs 1.9 crore marks the highest domestic package at IIT Kanpur
• Rs 1 crore per annum domestic package is bagged by over 50 students at IIT Delhi