Fewer US job offers at IIT-Bombay this year

Tom Matthew, professor in charge of placements, said that more than five offers for international positions had come by the end of Monday and all of them were from Japan.

Written by Priyanka Sahoo | Mumbai | Updated: December 7, 2016 10:04 am
IIT, Indian Institute of Technology, IIT Bombay, Bombay IIT, IIt Placements, IIT Bombay placements, All-IIT Placement Council, Placement council, companies, Placement companies, education news The government is set to change and companies are expecting changes in economic and foreign policies

The Indian Institute of Technology-Bombay (IIT-B) has seen fewer offers for positions in the US this placement season. While the number of US-based companies visiting the campus for recruitments has remained same as the last couple of years, officially no offers have been made yet for positions in the most sought-after country.

Tom Matthew, professor in charge of placements, said that more than five offers for international positions had come by the end of Monday and all of them were from Japan.

While official numbers suggest no jobs in the US had been offered, students said that some had been informally informed by the companies that the position was based in America.

A student privy to the information said that Flow Traders and Uber had offered one job each based in the US. Oracle, which had offered the highest package at IIT Kharagpur and Guwahati, has made one offer at the Bombay campus. At both the institutes Oracle made an offer of $125,000 along with a signing bonus of $10,000 and stock options worth $1,000.

However, that the number of US-based offers were fewer was echoed by many students. A student working with the placement team said that owing to difficulty in obtaining work visas, some US-based companies, including Facebook, had withdrawn from the placement process. He also said that some of the past recruiters were expanding in India and recruiting for their Indian arms.

Meanwhile, human resource consultancies said that the phenomenon could be a culmination of the ambiguity on US economic policies following the recent elections. “The government is set to change and companies are expecting changes in economic and foreign policies,” said Rituparna Chakraborty, co-founder and Executive Vice-President of Teamlease, a recruiting consultancy.

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“The companies are cautious as to not make offers that they may have to later retrieve, especially after learning from last year’s debacle with startups,” said Chakraborty. After some startups faltered on their offers last year, the IITs have taken a stricter stand this year with some pushing startups out of the coveted early spots.

On the other hand, offers from Japanese and Taiwanese firms had shot up with Yahoo Japan alone making six offers in Bombay. Other Japanese firms recruiting include Konica Minolta and NTT communications. Along with international firms, Public Sector Undertakings (PSU), too, had lined up to shop from IITs this year. From the Bombay campus, ISRO picked up four students and ONGC made as many as eight offers. Mathew said that many more were expected this week.

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