IIT Bombay placements: Offers from consulting and analytics firms dip

Goldman Sachs had made 23 offers last year but recruited only 15 students this year. Companies such as Bain and Company slashed their intake by almost half— eight last year compared to four this year.

Written by Priyanka Sahoo | Mumbai | Published: December 21, 2016 3:30 am

STUDENTS at the Indian Institute of Technology (IIT), Bombay, saw fewer offers from the analytics and consulting sector this placement season compared to last year. At the end of the two-week-long first phase, around 950 jobs were offered, of which only 10 per cent were from the analytics, consulting and research sectors.

The numbers significantly dropped from last year’s around 25 per cent. Of the total 1,143 offers last year, 105 were from consulting firms, 91 from analytics firms and 88 from research organisations.

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Goldman Sachs had made 23 offers last year but recruited only 15 students this year. Companies such as Bain and Company slashed their intake by almost half— eight last year compared to four this year. Deutsche Bank rolled out only two offers this year compared to five last year.

While students complained of lesser diversity in companies coming to shop this year, human resource professionals were surprised by the drop in offers from analytics and research firms.

“It is surprising that these two sectors that rely on engineers have reduced intake,” said Rituparna Chakraborty, co-founder and Executive Vice-President of Teamlease, a recruiting consultancy.

She said that since the clientele of consulting, analytics and research was based in the US and Europe, the US elections and Brexit could have been responsible for the drop. Offers from sectors such as Engineering and Technology (30 per cent) and IT/ Software (20 per cent) remained more or less the same.

By the end of the first phase, 309 BTech students, 371 MTech students and 169 dual degree students were placed. Intel Technologies made the highest number of offers: 28. Samsung R&D rolled out more than 20 offers.

Data received from the institute also reveals that the highest pay packages fell compared to that offered last year. The average salary was Rs 11.32 lakh per annum. This year, the highest package offered so far is by Japanese firm Works app, which repeated its last year’s offer of 60 lakh Japanese Yen (JPY) per annum. Another Japanese firm Rakuten, which had made the highest offer last year (65 lakh JPY), reduced the package to 37.2 lakh JPY this year. Worldquant, which had made the highest domestic pay package last year at Rs 41.1 lakh per annum, has only offered Rs 25.2 lakh this year.

Investment banking firm Blackstone made the highest domestic package this year at Rs 35 lakh per annum. Schlumberger, one of the world’s largest oilfield services, made an offer of Rs 28 lakh per annum.
priyanka.sahoo@expressindia.com

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