This year, engineering colleges across the country have seen increased placement offers and more firms making such offers, according to reports. The surge in placements includes the Indian Institutes of Technology (IITs) as well as the non-IIT engineering colleges. Compensation packages have increased as well, by 10 to 20%. Moreover, stock options are also being offered. With placements and internships being on a high, IIT Madras is planning to set up an independent internship cell, to function along with its placement cell.
Final placements at the IITs will start soon and the institutes foresee that this year’s placements will be better compared to last year. The placements have already started in other engineering institutes, with the students being happy with the lucrative offers.
At IIT Guwahati, offers have poured in from firms such as Google, Oracle and Microsoft. Moreover, new recruiters including LinkedIn and Walmart are also expected to participate in the final placements. Around 35 new firms have confirmed participation in final placements, with registrations still continuing. This year, IIT Guwahati is expecting participation from 200 firms, up from 120-130 last year. Moreover, the institute is expecting better salaries being offered this year. Last year, the institute saw salaries to the tune of over Rs 1 crore being offered. So far this year, IIT Guwahati students have received 60 Pre-placement Offers (PPOs). Last year, Google had extended Rs 1.5 crore offers to IIT students.
As per officials of IIT Ropar, the response of firms has been positive for the students of the institute this year, with many new firms planning to join the placements. As against six PPOs last year, this year the institute has already received ten. Firms which have confirmed participation in placements include Flipkart, Amazon, Microsoft, Google and eBay, among 50 firms. Microsoft, which has already made a PPO, has confirmed it will also offer internships, added the officials.
At Veermata Jijabai Technological Institute (VJTI), Mumbai, Japan-based Rakuten has hired students, extending the highest offer of Rs 40 lakh. One more Japanese company IBJ Group has extended offers to three students of Rs 20 lakh each. According to institute officials, VJTI is expecting participation by mass recruiters on the campus shortly. This year, the institute needs to place around 500 students. Firms such as IBM, Accenture and Infosys are scheduled to visit the campus in the coming days to extend bulk placement offers.
Many engineering institutes which could place around 50-55% of their students in 2013 are expecting 80-90% placements this year. Some engineering students may also opt for higher studies or take the Graduate Aptitude Test in Engineering (GATE) to find placements in public sector units (PSUs).
To promote entrepreneurship, the IITs are allowing the students to come back to participate in campus placements in case their venture does not succeed. In fact, some of the IITs are planning to include entrepreneurship in their Bachelor of Technology (B Tech) curriculum, while some of the IITs already offer such courses.
Engineering institutes across India have been taking several initiatives to boost the employment opportunities for their students. From providing special training for placements to contacting many more firms for this year’s campus placements, their efforts have been commendable.
Source: Business Standard