Day one of the final placements at the Indian Institutes of Technology (IITs) has brought the smile back on the faces of students, as big recruiters are back on the campuses. IIT placement representatives say salaries could go up by 30-40 per cent this year.
Last year, placements at IITs were subdued owing to the global slowdown. The IITs were able to achieve only around 75-80 per cent placements and many students opted for higher studies or jobs in teaching. Even the placement time was lengthy since companies were reducing their intake. This year, placement officials say that the response from the companies has been encouraging, however, they are ready to extend placement by a month or so if required,
“Today’s placements will go on till midnight and it is a rolling process. If any students or companies are left, then the placement process can be extended to April also,” said Kushal Sen, professor in charge, Training and Placement Cell, IIT-Delhi. Nearly 250 companies are expected to participate in the placement process. The institute invited nine companies on the first day and has a policy of one job per person.
“There is no change in the mix of companies compared with last year. All companies concerned with core engineering have been invited,” added Sen. At IIT-Kanpur more than eight companies participated on the campus, offering around 20 jobs to students.
While Tower Research Capital, a financial services company from New York, offered the highest salary at Rs 44.5 lakh per annum, Morgan Stanley offered salary of Rs 24 lakh per annum.
At IIT-Roorkee, IBM has made an offer of Rs 14 lakh, the highest so far. IIT-Roorkee invited around 1,200 companies on the campus against 800 last year to place its pool of 1,200 students this year.
More From This Section
At IIT-Guwahati, the average salaries offered are pegged to be around Rs 8 lakh while the highest offer stands at Rs 14 lakh. Approximately 55 companies are confirmed for placement so far and 15 more could be added in the next few weeks. A total of 604 students are sitting for placement this year.
At IIT-Kharagpur, the highest salary offered to the batch of 2009 remained the same as last year, at Rs 22 lakh per annum, while the average salary for students dipped to Rs 6 lakh per annum from Rs 7.44 lakh per annum last year. Prominent companies which have confirmed participation across various campuses include Microsoft, Adobe, Yahoo, Amazon, Oracle, Intel JP Morgan Chase, Deloitte, Deutsche Bank Credit Suisse, BCG, AT Kerney, ITC. Nomura and Shell.