It’s proving to be a record-breaking placement season at Indian Institutes of Technology (IITs) across various parameters – from the number of Rs 1 crore-plus packages and total job offers received by students so far, to international postings – just six days into this year’s campus recruitment drive.
The number of crore-plus packages across four IITs: Kanpur, Roorkee, Kharagpur and Varanasi (BHU) so far this year has exceeded 80, far surpassing what has been the total tally across all IITs in previous years, placement cell officials told ET.
International offers, too, have seen a huge jump compared to last year when Covid-19 took a toll on global postings. This year, six IITs – Kanpur, Madras, Kharagpur, Roorkee, Guwahati and BHU – have attracted 220-plus international offers already, far higher than last year.
International offers at IIT Madras have jumped 181% to 45 from 16 last year, by 366% to 28 from six at IIT Guwahati, and 147% to 47 from 19 at IIT Kanpur. IIT-BHU has 35 international offers, compared to none last year.
“This is one of the best years in terms of placements,” said Abhay Karandikar, director of IIT Kanpur. “The institute has received one of the highest offers: both domestic and international in the last few years. There is a huge demand for tech talent across sectors. Be it agriculture, retail, infrastructure…every sector is using new-age technology in some process or other. This demand has accelerated due to the pandemic, hence the unusual uptick in campus hiring,” he told ET.
At IIT-BHU, more than 75% of the students who had registered for campus placement have already got jobs.
“It’s been an exceptional year, be it for final placements or internships,” said Anil Kumar Agrawal, professor in-charge, training and placement cell, at the institute. “The demand for tech talent is huge.”
IIT-BHU had received 1,142 offers from 307 companies till Monday afternoon. IIT Kanpur received 940 offers till Day 4 (Saturday) including 47 international offers while IIT Roorkee received more than 1,000 offers including 32 international ones.
“Almost all sectors are hiring this year,” said Vinay Sharma, professor-in-charge, training and placement, at IIT Roorkee. “Growth in demand for talent has emerged from everywhere and the result is evident in the large number of offers within a very short span of time. We crossed the 1,000 mark in 84 hours.”
IIT Kharagpur has crossed 1,300 offers and IIT Guwahati has got 625-plus offers. IIT Madras had 1,208, including 231 pre-placement offers (PPOs), till Day 4.
“As compared to the last three years, we have received the highest international and domestic offers this year,” said Abhishek Kumar, head, Centre for Career Development, at IIT-Guwahati. “Software companies have seen an increase from previous years with more startups recruiting.”
As reported by ET earlier, Rs 2 crore plus packages made a comeback this placement season after a hiatus of nearly six years, with with the top international offer across IITs crossing the Rs 2 crore mark. Domestic packages offered at the tech institutes hit a record high with compensation offered by some high-frequency trading firms going up to Rs 1.8 crore – factoring in the bonus for the second year as well as sign-on bonus, non-cash benefits and ESOPs.