Report Says R&D Firms Have Hired More Candidates
The information technology sector, which usually hogs the limelight during placements at the Indian Institutes of Technology , picked fewer candidates than the previous years, indicating that the industry was at its low point. On the other hand, research and development companies (R&D) saw an upswing and hired many more IIT-B graduates in 2016-17.
Interestingly, companies across most sectors, barring finance, consulting, FMCG and PSUs, picked more MTech candidates than BTech students. For instance, the IT space picked 79 MTech candidates versus 73 undergraduates. R&D companies also hired 49 postgraduate students and 37 BTech graduates.
But this year, fewer IIT-B students bagged annual salaries of over Rs 11 lakh during campus placements. While 435 candidates were offered these top-slot jobs last year, in 2016-17, 403 candidates saw salary offers crossing the Rs 11lakh mark this time.
A total of 158 jobs were offered to IIT-B graduates on day 1 of campus placements.In all, 305 recruiters landed on campus and made 1,114 offers taking the average annual salary to Rs 11.41lakh. The Powai institute did not reveal its 2015-16 average annual salary offer. The total number of international firm offers this time was around 67 and there were 59 pre-placement offers.
“Over the years, pre-placement offer has been a growing trend of hiring talent from IIT-B,“ said the placement report. For the placement sea son 2017-18, which began in July, 110 students have received pre-placement offers till Wednesday . “Despite the challenging market situation, IIT-B managed to maintain good interest among the recruiting firms. Over the years, there has been a gradual increase in the number of companies visiting the campus,“ stated the placement report.
Interestingly, `budding' start-ups were avoided for the 2017-18 placement season as similar offers from the previous year were either delayed or revoked. “But still, the informal work culture, opportunity to make immediate and visible contributions and chance to own equity seem to attract students to start-ups,“ it said.