The first phase of placements across the Indian Institutes of Technology (IITs) ended last week and most IITs have recorded a 40-45% increase in job offers received this year compared to last.
The pandemic pushed many sectors towards rapid digitization and experts have cited this as one of the main reasons for the increase in recruitment of new talent, especially in the technology industry.
The first phase of placements in Indian Institutes of Technology (IITs) ended last week and most IITs have registered a 40-45% increase in job offers this year as compared to last year.
In most cases, the total job offers received are higher than in pre-pandemic years. At IIT Bombay, the first phase of placements ended on December 15, with 1,723 jobs offered to the batch. This is about 42% higher than the 1,128 job offers made last year and about 26.5% higher than the job offers received in 2019.
This is an all-time high record for the number of offers in the first phase of placements at Indian Institutes of Technology Bombay. We are expecting some more offers in the coming days. Out of 1,723 offers received, 1,382 jobs have been accepted,” said a spokesperson of the institute’s placement cell. The highest salary for an international position offered to an IIT Bombay student is USD 2.87 lakh (approximately ₹2.05 crore), while the highest package for a domestic role is ₹1.68 crore per annum.
Of the 1,500 students registered for placements at IIT Madras this year, 1,316 students received job offers (including pre-placement offers) in the first phase that ended on December 10. The institute stated that never before has 73% of the batch received job offers in the first phase.
“This also includes 45 international offers that were received in phase one of placements, which is a record on its own. The quality of academic training and the overall development of students during the program are reflected in the first phase of placements,” said Prof C S Shankar Ram, Advisor (placement), IIT Madras.
At IIT Delhi, the graduating batch has received 1,250 job offers this year, the highest ever. “The average compensation offered on campus this year has shown over 20% increase. Around 80% of the students who showed interest in availing placement facilities in this phase have been recruited up to now. While the quantity of offers and hence number of unique selections is at a record high, there has been over 45% increase in the number of offers received by the campus during this period over last year,” said a statement released by the institute recently.
Similarly, IIT Roorkee received 1,243 job offers this year, highest ever, of which 1,000 job offers were received in the first 84 hours itself. “We had received 1,000 offers in 84 hours and 1,200 offers in 12 days which earlier was achieved in two-and-a-half months. A total of 32 international job offers have been received this year out of which 31 were received in the first three days itself,” said a spokesperson for the institute’s placement team.
Experts have pointed at a demand momentum accelerated by digitisation of businesses as the main reason for this upward trend.
“The current demand for technical talent is massive and we have never seen this kind of demand momentum. It is at an all-time high with customers rapidly accelerating their adoption of digital business model. This situation has led to a buoyant market with multiple opportunities for fresh talent,” said Girish Nandimath, Head HR, Talent Acquisition, Tata Consultancy Services, and added that TCS alone hired over 40,000 fresh graduates in the 2021 financial year and plans to hire another 35,000 by March 2022.
Once again, high job offers came from core engineering sectors across campuses, followed by Information Technology, Analytics and Consulting sectors. The average salary also stayed above ₹25-28 lakh this year, especially in the IT, Finance and R& D sectors.
“We welcomed recruiters hiring in new-age domains like artificial intelligence, big data and cloud solutions, design development for high volume manufacturing, machine learning, robotics etc. across core sectors in addition to the traditional profiles and this has pushed the overall job offers received this year,” said Anishya Madan, head (Office of Career Services), IIT Delhi.