IITs buck slowdown with more recruiters, higher pay

Written by Kirtika Suneja | New Delhi | Updated: Jan 12 2012, 08:58am hrs
While the Indian Institutes of Management (IIMs) struggle to place their graduating students in adverse economic weather, job offers are pouring for tech grads from the Indian Institutes of Technology (IITs) from recruiters old and new.

Almost a month after its placement process started, IIT Madras has placed 63% of the 1,208-strong batch. For some US placements, the annual compensation offered was as high as $135,000 while domestic companies offered R4-15 lakh. Two to three companies visit the IIT Madras campus every day for recruitment.

IIT Kanpur is placing almost 1,000 students this year. About 150 companies with 200 profiles have already visited while 50 companies are still in the queue.

Pocket Gems, a US-based mobile app developer, paid $140,000. Multinationals like Google and Facebook offered very close to the highest figures, the institute told FE in an email.

At IIT Guwahati, social networking giant Facebook made the biggest offer at R75 lakh. More than 85 firms have visited the campus till now. Around 366 BTech and 269 MTech students are appearing for placements this year and the total number of students including BTech, MTech, MSc and MA is 828.

Placements look very good and the majority have been placed. We are confident the rest will also be placed soon. Compared with last year, there is definitely an increase in terms of the number of organisations visiting in December itself for recruitment and the average package being offered, said Siddharth Mukherjee, general secretary, placements, at IIT-Guwahati.

The highest package at IIT Kharagpur was around R24 lakh while the average was R8-9 lakh. First-time recruiters included Flipkart, Snapdeal, Transocean and WorldQuant.

The scenario at the IITs is clearly different from the IIMs which are bracing for a tough placement season and are approaching a greater number of companies, besides offering placement holidays to students.

In terms of number of recruiters, figures are similar to last year's but they are way ahead in terms of average salaries offered, which is a positive sign, said IIT-K's placement committee.

After core engineering companies, information technology (IT) firms were the largest recruiters while the FMCG sector made a quiet foray in the process.

IIT Bombay, on the other hand, saw an increase in the number of international companies like Microsoft, Sony, Goldman Sachs, Google, Facebook, Boston Consulting Group, Shell and Schlumberger.

First-time recruiters at IIT Madras included Sony, Pocket Gems, Honda, NTT Communications, Hyundai Motors, Paypal and WS Atkins, among others while Airbus, EMC, PowerGrid, Ericsson and Tata Power hired from IIT Guwahati for the first time.