Hit by layoffs and hyper-hiring globally, leading tech companies are getting ‘selective’ in recruiting fresh talent this season, which is reflected in the first phase of placements underway at Indian institutes. technology across the country.
Faculty members say that many companies are either staying off campus or making very few offers. Older IITs like Bombay, Kanpur, Madras, Guwahati and Roorkee said that while the salary packages are more or less the same, the total number of recruits, especially by information technology A slight decline has been recorded in the companies of the (IT) sector. The first phase began on December 1 and will continue till December 15.
“On the first day of placements, we had 46 companies interviewing candidates either online or in person. Over 175 were accepted out of 250 job offers on the first day. In addition, 300 Pre-Placement Offers (PPOs) were received, of which 194 were accepted. While salary packages have remained largely unchanged, tech giants have either been very selective or have not visited the campus this year,” said an IIT-Bombay spokesperson.
The spokesperson said some of the recruiting companies include Accenture Solutions, Airbus India, Microsoft India, Morgan Stanley, McKinsey, Procter & Gamble, Qualcomm, Shell India, Texas Instruments and Tata Steel.
“The placements are going well, but not as good as the last few years. Some IT companies canceled at the last moment while there were others who registered and took the preliminary exam but backed out at the last minute or hired very few people. International offers were even less. “Most start-ups have made good offers,” said a professor at IIT-Kanpur, who did not wish to be named.
Final year students at IIT-Roorkee received 500 offers from a total of 63 companies in two days of placements till 2 pm on Friday (some results are still awaited), of which six were international offers.
“Overall placements have been fine, but there is definitely an impact of the global economic situation in the IT sector. The market is volatile. The overall recruitment numbers have come down compared to the last few years, despite the diversity in profiles. Many large tech companies have not come forward or remain very selective in their approach. They are being cautious only looking at the scenario, but the students are ready to face the challenges,” Kaushik Pal, Professor-in-Charge (Placement), IIT-Roorkee he said.
Pal said that the highest offer of Rs 1.3 crore was made by a domestic company, while offers of about Rs 1 crore were made by international companies.
Despite a slight drop in international offers, IIT-Madras and IIT-Guwahati saw a jump in the number of offers made by domestic companies, with the latter two students receiving the highest international offer of Rs 2.04 crore on the first day of placements. The highest domestic offer was Rs 1.1 crore.
In Guwahati, the big recruiters for the first two sessions this year include Microsoft, Google, Uber, Qualcomm, Enphase Energy, Oracle, Nutanix, Thoughtspot MTS-2, Texas Instruments, American Express and JP Morgan.
“Initially, the biggies, for example Microsoft, said they would not participate in the placement sessions as many of them had already given PPOs, but this one registered only last week. International offers were slightly lower than the previous year yet the salary package offered was the highest ever this season. This time most of the offers were national,” said Abhishek Kumar, head of the Center for Career Placement at IIT-Guwahati.
Santosh Gudlavaleti, a final-year student of electrical engineering at IIT-Madras, who coordinates non-core placements at the institute, said there was apprehension of a slowdown among companies, which made them a little hesitant to hire, but the overall placements The scenery was good. International offers reached around Rs 1.8 crore, while the highest domestic offer stood at Rs 1.6 crore.
“There were some companies, for example Zomato, who gave PPOs but did not turn up for placement sessions. Still many other companies including those based in Europe, the US and Japan, such as Maverick, Da Vinci, Microsoft and Google,” he said.
Most of the institutes said that Amazon, which conducted mass layoffs this year, did not turn up for placements this season. The second generation IITs, whose placement cycle does not coincide with the older IITs, say they will be able to share data only after a week or two of placements.
“We can share the exact numbers only around December 12-13. But with the current job offers, we have seen an increase in all the parameters like number of offers, pay package, PPO etc. Faculty Advisor, Career & Placement Cell, IIT-Mandi.
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