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Job offers ‘unusually high’, IIT expects happy season of placements

Education NewsSix had interned at Samsung Korea and all six have been offered jobs at an annual cost-to-company of Rs 92 lakh per head. Four others interned at Deutsche Bank; three got jobs out of it.

With the high rate of “conversion” in ‘day-one companies’ and the sizes of offers, students expect a good season of placements this December. “The number of offers per company is likely to be higher as the conversion from internship to jobs has been really high this year,” says Shivansh Aggarwal, head of IIT-Delhi’s Student Affairs Council. The total pre-placement offers made before the beginning of formal placement season may be much higher though not necessarily as lucrative.

Typically, the highest-paying jobs are the coding ones and at banks and consultancies; these are called in on the first day of placements. “The core companies are the technical ones and usually they can’t match the packages offered by the finance and consultancy sector. Many students get swayed away from the technical field. We can’t stop students from accepting and there may be family pressure. But we do call core companies on day-one,” says dean, students’ affairs, SK Gupta. As opposed to the practice just about everywhere else, IIT-Delhi is reluctant to reveal placement information. Explaining this unusual reticence, Gupta says, “CTC figures can be misleading and it also puts other kids in a lot of pressure.”

Despite the size of the pay-cheques, many students choose to opt out. Several IITs have introduced the provision of “deferred placement” but in Delhi, it will serve as a safety-net for those taking the risk of joining a start-up. Only those who opt-out of regular placement to try their hand at entrepreneurship or join start-ups will be allowed to defer.

The batch that’ll be placed in December 2015 will have to put in their requests for deferment along with the plan for their start-up in January. “A panel will look in to the plan and accordingly permit or deny,” explains Aggarwal. “We did this because those coming back after two years will impact the placement of all the students signing up that year,” adds Aggarwal. At the same time, it may make parents nervous about their kids forgoing stable jobs for start-ups less resistant to the idea.

Source: The Economic Times

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