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India’s prestigious IITs, known for stellar placement seasons, are facing a challenging year. The global economic slowdown has impacted campus recruitment, with companies offering lower salaries and hiring fewer graduates.
IIT Placements Witness Slower Job Market
- Companies are offering fewer positions compared to previous years.
- Several firms are presenting annual packages below ₹10 lakh, a significant drop from past trends.
- Graduates are accepting lower-paying roles due to a lack of better alternatives.
IIT Directors Acknowledge The Impact
Suhas Joshi, the Director of IIT Indore, acknowledged the impact of the global slowdown on student placements. The institute is actively looking for solutions to mitigate this effect, such as expanding its network of potential employers by reaching out to alumni and Public Sector Undertakings (PSUs).
IIT Placement Statistics Reflect the Downturn
- A student from IIT Bombay reported a significant decrease in companies selecting students.
- Another student from IIT Kharagpur shared examples of companies offering lower salaries compared to previous years.
- As many as 40% of final-year students at IIT Delhi are yet to secure placements.
- While 81% of undergraduate students have received offers, the overall placement numbers reflect the challenging job market.
- The report suggests that undergraduate programs may be experiencing a slightly lesser impact compared to others.
The slowdown in the job market is impacting even India’s premier engineering institutions. While some graduates are accepting lower-paying roles, the overall situation highlights the need for innovative solutions to bridge the gap between job seekers and employers in this challenging economic climate.
Read | IIT Placements See Downturn: 30% Unplaced, Offers Down 25%
