Now it's time for IITs to show their worth in the corporate world. The B-schools are not the only institutes that are attracting companies to hire their students. Even IITs are also on the same track. The improved situations of the global market have brought back the companies on the campus of Indian Institute of Technology (IITs), too.
In last two years the IITs were unable to place all its students due to lack of jobs in the market. But this year starts on a bright note as IIT have already managed to place almost 80% of students from the current batch. Students are also receiving record salary offers.
SK Srivastave, professor-in-charge, training and placement, IIT-Kharagpur said, "Overall the sentiment has been more positive. Companies have been bullish both in terms of making offers and presenting the salary packages. In fact, it would not be incorrect to say that offers are better than those made pre-recession."
This year IIT-K started its placement process in the last week of the December 2010 and recorded highest pay packages of about $1,35,000 by Facebook.
Till the last week of the February, more than 600 companies visited the campus to recruit students and made almost 1700 offers. Srivastave said, "With 80 per cent of students currently placed, things seem to be on the upswing. Even students of those departments that did not get placed last year, have already seen 100 per cent placements." This year the institute invited more companies on campus for placements.
The placement season, which is still going on, has witnessed active participation from more than 200 companies across technology, research and development, public sector, financial services, engineering and processing along with education related sectors.
Ravi Sinha professor-in-charge, placement, IIT-Bombay said, "In general we have observed a 15 to 20 per cent increase in salary across all sectors as compared to last year. With the increase in salary packages observed last year, the current packages are generally better than those offered during the pre-recession period."
IIT-Madras has placed 80% students till now, and the placement season is still on and will last for a month. The average salary for an IIT-Madras graduate is Rs. 7.5 lakhs per annum.
N R Babu, advisor, training and placement, IIT-Madras said, "The highest salary this year stands at Rs 38 lakh so far, with the primary recruiters coming from information technology (IT) companies like Google and Facebook, along with consultancies like McKinsey," said N R Babu, advisor, training and placement, IIT-Madras.
This year almost all the departments at IITs have witnessed a good placement session till now. Salary levels have gone up more than 25-30%. This year IIT-Roorkee, has not seen a big change in the salary offered to students.
PK Jain, professor and coordinator, training and placement cell, IIT-Roorkee, said, "The highest salary of about Rs 40 lakh is comparable to last year's packages. While saying that things are back to pre-recession would be over-stepping the line, one can hope that the increase in number of visiting companies will translate into better packages soon."
Image credit : denharsh
Start an educational adventure by having the top universities and colleges with Engineering Programs come to you! Fill out your information accurately to get connected directly with the academic recruiters: