At a time when the job market seems sluggish, IIT-Bombay students are expecting higher pay packages from companies this year. IIT-B, which began its final campus placements on Tuesday, has seen an impressive response from companies across the world and is expecting a good overall rise in pay packages this year.
Over 450 companies have so far registered for the placement process in the first phase of final campus placements compared to 350 that visited the campus last year. This year, 36 companies conducted interviews on Day One.
The first phase of placements will be held between December 1 and December 20, while the second phase will begin in January and go on till June next year. Even as companies start visiting the Powai campus from August onwards, formal interviews start from December 1.
This year, IIT-B will be placing around 1,600 students (BTech, MTech, dual degree, MSc, MPhil and PhD).
Google India, Microsoft, Oracle, Visa, Shell and Boston Consulting Group (BCG) are some of the companies that will be visiting the campus for placements. Apart from these, Yahoo Japan, Flipkart, trading firm AlphaGrep and private equity firm Blackstone too are participating in the placement season this year.
Atul Shukla, placements manager at IIT-B, said over 450 companies had shown interest and had registered with the institute. “There were around 36 companies that held interviews on Day One in three slots. These companies had held orientation and introduction sessions for the students since August and, hence, students know what jobs are available and can chose accordingly and have a fair idea about the base salary offered by these companies.”
He added that apart from engineering and IT companies, banks too had registered for the placement process. An official from the placement cell said in all, 1,600 students had registered with the placement cell, of which 1,200-1,300 students would take up jobs as per their estimate. “Students usually try to ascertain what jobs are available through the placement process. Based on this, they decide on whether they want to go for further studies or take up a job,” the official said.