MUMBAI:Even as the annual placements are likely to begin in the first week of December, 127 students of the Indian Institute of Technology-Bombay (IIT-B) have received job offers from various companies. Last year, 119 students received pre-placement offers (PPOs), of them 59 had accepted them. This translates into a 7% increase in the PPOs this year.
“Most PPOs are a result of students’ performance during their summer internship. We have already recorded 127 such offers and the number is increasing,” said a spokesperson for the placement cell of IIT-B. These graduating students are free to accept or deny the jobs. Those who accept PPOs eventually drop out of the institute’s placement season.
Close to 1,620 students have registered for the placement season at IIT-B this year. The premier institute has already received confirmation from several companies, with more than 440 job profiles on offer. Of them, more than 160 profiles are from the engineering sector. As has been the trend in recent years, companies such as Sony, Murata, Texas Instruments, Qualcomm, Vedanta and General Electric have been emerging as the major recruiters, said an official from the placement cell.
“PPOs allow us to gauge how the placement season will look, and the picture looks bright. Several students are already appearing for job interviews. This shows that the demand for engineering jobs is still high in India and abroad,” said a professor from the institute.
Over the years, seats in engineering institutes, including the premier IITs, have been lying vacant over the years. Of the 10,998 seats in the 23 IITs, the number of vacancies after seven rounds of counselling stood at 121 this year, up from 96 last year, and 50 in 2015, and three in 2014. Similarly, almost 36% seats in other government and private-run engineering institutes in the state found no takers. Experts have attributed the fall in demand for engineering courses to lack of appropriate jobs for engineering graduates after college. However, the scenario seems to be changing. Experts believe that more PPOs are a good sign, even though the market is looking for ‘stabilisation’. “After the introduction of the Goods and Service Tax (GST), companies have focussed more on stabilisation than recruitment. However, the market is meant to rebound for good and it is good to see that companies are initiating hiring in anticipation,” said Rituparna Chakraborty, co-founder and EVP, TeamLease Services Ltd. She added that the number of jobs is likely to be slightly higher than last year, but salaries may be a concern.