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Boom time back for students of city’s top engineering colleges

Annual salary packages offered see a 20% hike, start-ups get lukewarm response for students.

Written by Ardhra Nair | Pune | Updated: September 8, 2014 4:54:43 am
The College of Engineering, Pune. The College of Engineering, Pune.

After a lull till last year, placement season has opened with a boom in top engineering colleges in Pune, with nearly 20 per cent hike in the salary packages offered. Pre-placement offers too have made a comeback with the companies also offering joining bonuses and other lucrative incentives so that the selected students do not take up any other job offer.

College of Engineering, Pune, has already placed approximately 110 students in various companies across the world and it has not even been one month since their placement season started. “Our placement season started in August 25. This time, Ebay and Goldman Sachs have come for the first time. Ebay took three students, each for an annual salary package of Rs 18 lakh, while Goldman Sach took three students for Rs 13 lakh each. The average package offered has also increased drastically,” said Sandeep Meshram, training and placement officer, COEP.

COEP has changed the placement policy this year. Earlier, “bulk” companies would come and pick a large number of students, who will then be eligible for “dream” companies offering more than Rs 8 lakh as annual salary package. Many students used to get placed in “dream” companies and hence their seats in “bulk companies” were wasted. “Hence, this year, we have dream companies coming in first, after which the ‘bulk’ will come. Till now, 15- 16 companies have come. Last year, the highest salary offers were made by two Japanese companies, which offered nearly Rs 40 lakh each. Such offers are yet to come,” said Meshram.

“Pre-placement offers too have made a comeback. In this, companies offer internship to selected students in the third year itself and then give them pre-placement offers so that these students are booked by that particular company and hence cannot sit for other interviews,”added Meshram.

An interesting trend seen this time around is the lucrative bonuses being offered to students which were earlier only offered to IIT and NIT students. “The students are being offered in-hand bonuses at the time of joining. They are also being given various perks, health benefits, food and Internet benefits, latest model cellphones, one foreign trip a year etc. This is done so that they don’t go seeking greener pastures elsewhere,” said Rohini Mulay, training and placement officer at Cummins College of Engineering.

Cummins, women’s college, has also been seen a hike in salary offers for its students as well as in the number of new companies coming in. “Ebay and Amazon are some of the new companies that came to the college. Till now, the highest annual salary package of Rs 16 lakh was offered by Ebay to a student. We have seen almost a 20 per cent hike in the average salary packages offered and are sure that by the end, almost all our students will be placed,” said Mulay.

However, start-ups are yet to find a good response, said Meshram. “There is a fear among students that the start-ups may not work out. There is always an element of uncertainty and even if we tell them to take it up, the students listen more to their seniors who warn them against start-ups. Hence, the trend of students wanting to be placed in start-ups is yet to pick up,” he said.

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