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Despite demonetisation, Mumbai colleges see more job offers, better pay packages

Placement cells of colleges have said job offers from start-ups have increased and the packages offered by companies from various sectors range from Rs 3 to Rs 11 lakh per annum.

mumbai Updated: Jan 04, 2017 09:18 IST
Shreya Bhandary
Placement cells of colleges have said job offers from start-ups have increased.
Placement cells of colleges have said job offers from start-ups have increased.(Pic for Representation)

Degree colleges under the University of Mumbai (MU), which are in the middle of their placement season, have reported that the number of job offers targeted specifically at freshers have increased and so have the salary packages.

Placement cells of colleges have said job offers from start-ups have increased and the packages offered by companies from various sectors range from Rs 3 to Rs 11 lakh per annum.

“Job offers have definitely gone up and this year, many start-ups have come forward to hire freshers. Our placement season started in November and almost every day we’ve had one start-up on campus conducting interviews,” said Charishma Mudbidri, placement officer for Usha Pravin Gandhi College, Vile Parle. She added that despite fears of demonetisation hitting the placement season this year, the job offers as well as the salary packages have been good with students being offered anywhere between Rs 2.5 lakh to Rs 6 lakh pa.

Various sectors have approached colleges in the past couple of months and while maximum offers have come from Indian companies, students at HR College of Commerce have also been offered jobs by Japanese firms. “For the past few years, Nomura, a Japan-based financial company, has been offering jobs to our students and this year, the highest package offered has been Rs 11 lakh,” said Navin Punjabi, assistant professor and placement in-charge at HR College, Churchgate. He added that maximum job offers have come from finance, audit and tax firms, and the company that has offered most jobs is Ernst & Young, with 21 offers made to under-graduate students at HR College this year.

Most city colleges started the placement process in December itself and some institutes will conduct a second phase this month or next. At R A Podar College, Matunga, 31 students in the commerce and economics college have already been placed in the first phase of placements and maximum offers have come from core sectors including finance, HR, sales and management.

Colleges have highlighted that not just job offers, but also the number of under graduate students interested in placements has increased over the years. “Students have understood that even for higher education, their application looks much better with job experience, so many have stared focusing on getting experience before applying for higher education,” said Ritika Pathak, placement coordinator at K C College, Churchgate. She added that the salary package offered to graduates in different subjects range from Rs 3 to Rs 7 lakh, almost similar to last year.

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