New Delhi: Placement season 2021 took off with a bang at the Indian Institutes of Technology (IITs) Wednesday, with many of them reporting higher pay packages and a rise in placements offered to students, as compared to last year.
Companies like Microsoft, Amazon, Accenture, Qualcomm, Boston Consulting Group, JP Morgan Chase & Co, McKinsey and Goldman Sachs have made offers this placement season, according to the IITs.
Like last year, most IITs have decided to conduct their placement process online this year as well owing to the pandemic. This phase of the placements is expected to go on till mid-December.
While IIT-Madras said it had received 43 per cent more offers on the first day than last year, IIT-Mandi reported a 16 per cent rise in the average salary packages offered to their students. Similar trends emerged from the IITs at Roorkee and Guwahati.
The data for IIT-Delhi could not be accessed immediately. This report will be updated when the information is available.
In a statement, IIT-Madras said the institute had received a record 176 offers from 34 companies in the first phase of the first day of placement, which is 43 per cent more compared to day one last year.
“This is higher than any of the preceding academic years. During the academic year of 2020-21, 123 offers were made by 22 companies at the end of the first day of session,” the statement said.
This academic year, of the 176 offers received on day one, 11 were from international firms. Apart from this, 231 pre-placement offers were also made to students, taking the total number of offers received so far to 407.
The prime recruiters this year include Microsoft, Texas Instruments, Bajaj Auto, Bain and Company, Goldman Sachs, Qualcomm, Boston Consulting Group, JP Morgan Chase & Co, and McKinsey. The first phase of placements is expected to continue till 10 December.
IIT-Mandi officials said they have seen a rise of 16 per cent in the average salary packages offered to their students, and a 9 per cent hike in maximum salary offered, compared to last year.
“IIT-Mandi’s placement process started on a completely virtual mode with 166 offers from recruiters and 137 students placed till 1 December. Phase one of placements started mid-October and will go on till mid-December, in which 102 companies have participated (till date),” the institute said.
Top recruiters including Google, Microsoft, Samsung Bangalore, Adobe, Walmart, Sprinklr, Paytm, Amazon, Indeed, Cashfree, Nference, Flipkart, Mindtickle, Texas Instruments, Nvidia, Qualcomm, Ceremorphic, Addverb, L&T, ZS, Deloitte, Viscadia, Capgemini, KPMG, TCS, Reliance Jio, and LTI, among others, have taken part in the placement drive at the institute.
Tushar Jain, adviser at the IIT-Mandi Career & Placement Cell, said: “The current placement drive at IIT-Mandi can be seen as the benchmark drive with respect to previous years. In this drive, the institute has noticed a significant growth in terms of the number of offers and an increase in participation from the diversified companies, which has become possible due to practical-based and industry-oriented curriculum.”
The institute received 51 pre-placement offers and seven international offers this year from companies including Accenture, Enjoy LLC, and Weather News, and some recruiters from Japan.
At IIT-Roorkee, the highest domestic package last year was Rs 80 lakh, which increased to Rs 1.8 crore this year. The highest international package offered has shot up to Rs 2.15 crore/year this year from Rs 69.05 lakh.
The institute said 11 of their students were hired at plum salaries of more than Rs 1 crore and 13 students received international placements on day one.
Professor Vinay Sharma, in-charge, IIT-Roorkee Placement and Internship Cell, said the institute had tweaked its strategy for placement season to suit the new market post-Covid.
“Pandemic has brought some directional changes in the placement scenario. We accordingly made our strategy for this placement season, wherein we tied up with the best of companies in sectors related to AI, software, networks, analytics, e-commerce, FMCG, quants, finance, manufacturing and others with sincere focus on the core sector,” he said.
“We deeply analysed the economic growth across the globe and accordingly collaborated with established growing firms, on the basis of forecasting done by our team. With all the above strategies, we were able to do exceedingly well in international as well as domestic offers,” he added.
IIT-Guwahati said that, in just the first half of day one, 200 job offers were extended to its students as compared to a total 158 offers made on the first day of last year’s session.
“Multiple domestic offers above Rs 1.1 crore and one international offer of Rs 2 crore were made at the end of session 1. The big recruiters of this year’s first day session include Uber, JP Morgan Chase, Schlumberger, Graviton, Microsoft, Apple, Google, Texas Instrument, Bajaj, Qualcomm, Goldman Sachs among others,” the institute said in a statement.
In addition, IIT-Guwahati students have already received 179 pre-placement offers this academic year, the highest in the last three years. Most of the offers were in the sectors of information technology/software, finance, and analyst and product profiles.
Currently, there are 23 IITs in the country, of which eight had featured in the ‘Top 10’ of the Ministry of Human Resource Development’s National Institutional Ranking Framework (NIRF) 2021 rankings.
(Edited by Gitanjali Das)