IIT Placement Season Faces Challenges Amid Economic Slowdown

The pursuit of lucrative job opportunities among students at India’s prestigious Indian Institutes of Technology (IITs) has encountered obstacles in the current placement season. With a noticeable reduction in hiring and diminished salary packages offered by companies, many students find themselves grappling with offers below the Rs 10 lakh mark annually.

Traditionally, companies would recruit several students from IITs, but this year, the trend has shifted, with organizations opting to hire only one or two candidates at most. Consequently, colleges have been compelled to expand their outreach to attract more companies, including those offering compensation ranging from Rs 10-15 lakh per annum.

The impact of the global economic slowdown on campus placements for the 2024 graduating batch has been pronounced, as highlighted by Professor Suhas Joshi, director of IIT Indore. To counteract the effects, IIT Indore has proactively engaged alumni networks and diversified its pool of potential employers, including Public Sector Undertakings (PSUs).

Students across various IIT campuses share similar experiences of decreased hiring numbers and lowered salary offerings compared to previous years. Some have resorted to exploring additional avenues such as job portals, attending job fairs, and participating in interviews across different cities in pursuit of better prospects.

Praveen Tyagi, owner of IITians’ Pace, noted the emergence of opportunities amidst the challenging scenario, with his tutorial conducting tests to recruit IITians and offering competitive salary packages.

At IIT Delhi, a significant portion of students is still in search of employment through the Office of Career Services (OCS). While a majority have secured jobs, approximately 40% are yet to find suitable employment opportunities.

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For undergraduate programs, the situation appears relatively more promising, with a majority of participants receiving job offers. However, plans are underway to conduct separate placement drives specifically catering to PhD candidates.

During recent placement sessions at IIT Delhi, students were exposed to diverse job roles, with companies like Bharat Petroleum Corp. Ltd and HCL Software offering lucrative annual packages. The placement process remains rigorous, with companies seeking candidates with specialized skills, particularly in artificial intelligence and machine learning.

Overall, the current placement season at IITs reflects the broader challenges posed by the economic slowdown, prompting students and placement offices to adopt proactive measures to navigate the evolving landscape of employment opportunities.