The effects of the economic slowdown have now trickled down to campus placements.
The recruitment drive at several educational institutions in the Capital seems to be moving at an unusually sluggish pace this year. With many companies either retracting job offers or recruiting fewer candidates, the placement officers of different colleges and universities in Delhi are now faced with an uphill task.
The drop in job offers seems most conspicuous at Jamia Millia Islamia University, which is currently in its second phase of recruitment. Placement officer Rihan Khan Suri pegs the decline in offers at close to 50 per cent. Students of engineering and management studies — usually sought after by companies visiting Jamia — are the ones most affected.
“We invite companies during three recruitment drives which normally happen in July, December and January, respectively. We finish almost all of our placements by the second drive, but things this year are different. It's December and we just halfway through,” said Suri.
Moreover, a few companies have deferred the date of joining.
“Students picked up by Satyam and Sapient were suppose to report to work in July. The companies have postponed the date of joining till further notice. Looking at this, we are now allowing students, who had got jobs in the first recruitment drive, to participate in the second as well,” said Suri.
The trend at some of the top colleges of Delhi University also doesn't appear too encouraging. Shri Ram College of Commerce (SRCC), which had its first placement spell in October, had two companies pulling out at the last moment.
“Morgan Stanley had an annual package of Rs 21 lakh on offer. The company interviewed students, but finally chose not to select anyone. We had a similar experience with the United Bank of Switzerland. This company had recruited 47 of our students last year,” said R.K. Singh, teacher in-charge of placement at SRCC.
In fact, the placement cell of SRCC is now entertaining companies offering an annual package of less than Rs 2.4 lakh, something it had not done till last year.
The number of St. Stephen’s College students recruited by this time in 2007 was more than double. “The number of companies and offers in comparison to last year are definitely lesser. Companies are keen on cutting costs and I guess they would probably want to decrease recruitment at the entry level,” said Divya Harikesh, president of Stephen’s placement cell.
“We usually finish all our work during the placement week in October. This time the placement pace is unusually slow and should go on till mid-January. Our average package, however, has not been affected,” said Neena Sinha, placement in charge of the Management Department of Indraprastha University.