The culmination of academic rigor and relentless dedication at the prestigious Indian Institutes of Technology (IITs) is often punctuated by the anticipation and excitement surrounding placements. As the first phase of placements concludes across IIT campuses in Delhi, Kanpur, Mumbai, Guwahati, Roorkee, Chennai, and Kharagpur, a nuanced tapestry of statistics and sentiments unfolds, reflecting the current landscape of job placements for the Class of 2024.
I. Navigating The Numbers: A Closer Look At Placement Trends
According to data compiled by Careernet, the initial phase of placements witnessed a modest decline, with 40-45% of students securing placements, a deviation from the 52-55% recorded in preceding years. Anshuman Das, CEO of Careernet, shared insights with CNBC-TV18, projecting a resurgence in placements in the Information Technology (IT) and software sectors for the fiscal year 2024. Notwithstanding cautious hiring sentiments amidst a market slowdown, IITs have managed to sustain average salaries and stipends, with international offers emerging as a beacon of promise, including a standout highest package of ₹3 crores in the first phase.
II. Challenges And Optimism: Perspectives From The Placement Cell
While official statements from leading IITs exude optimism, conversations with job seekers reveal a more nuanced picture. A placement cell representative from IIT Delhi, speaking anonymously to CNBC-TV18, expressed that approximately 600 companies are expected to visit the campus in the first phase, reflecting a one-third decrease in available roles compared to the previous year. This reduction is observed across a limited number of courses, resulting in an overall decline in package offerings. Notably, hiring by consulting firms has seen a sharp decline compared to previous years.
The absence of a significant number of US-based companies for hiring has been another noticeable trend, marking a departure from past recruitment patterns. Careernet raises concerns that major names in IT services may be absent, except for specific niche hires. However, it’s noteworthy that the top eight companies have increased their hiring by 10-15% this year, providing a silver lining amid the uncertainties.
III. A Glimpse Into IIT Campuses: Placements Unveiled
As the dust settles on the first phase of placements, each IIT campus unfolds a unique narrative.
IIT Madras: Shaping Futures with Diversity and Core Hiring
The first phase of placements at IIT Madras concluded on December 13, with approximately half of all students receiving offers. The institute reported a substantial increase in hiring from the core sector, coupled with a noteworthy rise in international offers for postgraduate students compared to the previous year. The median salary for all offers in the first phase exceeded ₹19 lakh, and over 55% of placed students hailed from socially and economically challenging backgrounds, reflecting the institute’s commitment to diversity and inclusivity.
IV. IIT Roorkee: Global Opportunities And A Surge In Offers
As the first phase of placements ended on December 15, IIT Roorkee reported 802 job offers from 172 recruiters, including pre-placement offers (PPOs). The institute witnessed 23 international offers in the initial phase, with expectations of more in the upcoming rounds. The surge in international offers signals global recognition of the talent pool at IIT Roorkee.
V. IIT Bombay: Sustaining Momentum With Diverse Participation
During the first 15 days of the placement season at IIT Bombay, over 350 companies participated, making more than 200 pre-placement offers. The first day saw 40 companies conducting interviews in two slots, and 80% of regular recruiters from the previous year actively participated. Notably, three Public Sector Undertakings (PSUs) – Hindustan Petroleum Corporation Limited (HPCL), The Centre for Development of Telematics (C-DOT), and Oil and Natural Gas Corporation (ONGC) – extended offers even before the official commencement of the placement season, reflecting the diverse opportunities available to students.
VI. IIT Delhi: A Flying Start With Robust Numbers
IIT Delhi set the tone on the first day of placement activities, recording approximately 480 full-time job offers, including pre-placement offers. By the end of the first day, students secured about 450 selections, with a total of 749 offers made by 218 companies till December 4, as reported by Career360. The impressive numbers underscore the demand for IIT Delhi graduates in the job market.
VII. IIT Kanpur: Surpassing Expectations With Over 800 Placements
On the first day of Phase I campus placements, IIT Kanpur extended a total of 485 job offers, with over 800 students reportedly placed in Phase I. The institute reported 428 students securing sought-after positions, encompassing both campus placements and pre-placement offers (PPOs). These numbers suggest a robust demand for talent from IIT Kanpur among recruiters.
VIII. IIT Guwahati: A Mix Of Growth And Quality Offers
IIT Guwahati reported a total of 164 offers from 59 companies, surpassing the 160 offers made by 46 companies on the first day of the previous year’s placement season. The current academic year saw 214 pre-placement offers (PPOs), particularly in core engineering and finance profiles. Notably, 11 placement offers came with a salary package of at least ₹1 crore, marking a significant increase from the previous year’s count of 7 such offers.
IX. IIT Patna: Breaking Records With High-Value Placements
In the first phase, IIT Patna witnessed 147 students securing job offers from 65 companies, with an average salary package of ₹22.23 lakh. The placement scenario at IIT Patna emphasized the dominance of placements in the Computer Science and Engineering (CSE) branch, constituting approximately 75% of all placements. The average Cost to Company (CTC) in this segment was ₹27.60 lakh, indicating lucrative opportunities for CSE graduates.
As the curtain falls on the first phase of IIT placements for 2024, the diverse trends and triumphs paint a vibrant picture of the evolving job market. While challenges persist in certain sectors, the resilience and adaptability of IIT graduates, coupled with the sustained demand from top companies, reaffirm the institutes’ status as breeding grounds for exceptional talent. The journey of the Class of 2024 has just begun, and as they embark on their professional odyssey, the lessons learned and experiences gained at IITs will undoubtedly shape the future of these budding engineers and technologists.