IIT-JEE Admissions 2020-21

IIT-JEE Admissions 2020-21

IIT PLACEMENTS TO BEGIN TODAY; HIRING PLANS OF PSUS UNCERTAIN

PUBLISH DATE 1st December 2017

A year after making a grand re-entry to campuses during placement season, the fate of public sector undertakings’ (PSUs) hiring plans is uncertain once again. With the first phase of placements at the premier Indian Institutes of Technology (IITs) starting from December 1, the number of PSUs registering at campuses across India has dipped.

“There is still no clarity on whether PSUs can hire students through campus placements, so we have not got a single PSU on board yet,” said an official from IIT-Madras.

While PSUs have hired freshers out of IITs and IIMs for a long time, a temporary stay on this process was put in place by the Madras high court, following a petition filed in 2014.

This petition sought a ban on public sector companies opting for campus placements at private institutes, thus eating into chances of students from government institutes vying for the same jobs. The ban was lifted in December 2015, giving private institutes a free hand to approach more companies.

However, earlier this year, the department of legal affairs reaffirmed that “campus recruitment by PSUs, in view of the Madras high court’s September 7, 2015, decision may be questioned as an unconstitutional way of recruitment to public employment” and may amount to “discrimination”.

With no official statement on this decision, IITs are finding it difficult to get PSUs to commit.

The first day of campus placements at the Indian Institute of Technology Bombay (IIT-B) on Friday will witness some companies offering slightly bigger packages, even as the salaries offered by others are likely to remain static. A few companies that offered high salaries last year won't revisit the campus, said a source.

Last year, the median salaries offered by the recruiters at the premier institute dropped for the first time in the past six years. The annual gross median salary reduced from Rs9.8 lakh in 2015-16 to Rs9.38 lakh in 2016-17 — a drop of 4.3%.

“This year, top recruiters have either kept their offers static or increased it up to 10%, owing to the abundance of engineering talent in the market. These companies also plan to hire students from other institutes. IITs are negotiating not only for better salaries, but also better job profiles for their students,” said Kamal Karanth, founder, Xpheno, a specialist staffing firm.

So far, 250 companies have registered for the first phase of placements.

More than 1,600 students from various undergraduate and postgraduate courses will participate in the on-campus recruitment process.

Five companies are expected to offer job profiles in the United States. These include Uber — which offered an annual salary of $1.10 lakh — and Microsoft, which offered an annual salary of $1.06 lakh last year. They are expected to make similar offers this year, said the source.

Around 15 Japanese firms will also visit IIT-B. At 50 lakh Japanese Yens a year, Sony is expected to make the biggest offer for a Japanese company. TEX E.G., Murata and Toyo Engineering will offer gross annual salaries in the range of 36 lakh and 27 lakh Japanese Yens.

A few companies from Singapore and Europe will also visit the campus during the first phase.

Blackstone, which had offered the highest annual salary of Rs35 lakh last year for a domestic profile, has increased its offer, said the source.

However, other top recruiters such as Schlumberger and World Quant, which offered Rs28 lakh and Rs25.20 lakh, haven't changed their packages.

Among those giving the premier institute a miss this year are Works Applications, which had offered 60 lakh Japanese yens per annum — the highest package for a Japanese firm — and Xerox Research, which had offered Rs 22.5 lakh per annum — one of the biggest packages for an Indian profile.

Oracle, which offered one of the highest salaries for a US profile, will only offer Indian jobs this year, and may later upgrade them to US profiles.

 

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