Even as the lucrative offshore offers made by United States (US)-based companies at the Indian Institute of Technology Bombay (IIT-B) have dipped over the past few years, there has been a surge in Japanese firms offering students positions in their home country.
By the end of the second day of IIT-B placements, around a dozen Japanese companies had visited the campus and offered 22 students jobs. Last year, only five such companies made 17 offers to the students.
On Thursday, day one of the first phase of placements, Japanese electronic component manufacturer Murata — which made its IIT-B debut this year — selected seven students. Tokyo-based information technology (IT) firm NEC Corporation — which visited the campus last year — made six offers.
However, missing from the list was Japanese giant Sony, which offered 11 students jobs last year.
On the second day, e-commerce firm Rakuten Inc selected two students. The Japanese arm of technology firm Yahoo selected six candidates. Both companies had come last year as well. NTT Corporation, a Tokyo-based telecommunications company, picked one student.
On Saturday, Toyo Engineering, Hitachi and Sekusui Chemical Company — core engineering companies that were absent last year — recruited students.
Technology firm Konica Minolta hired two students. Engineering company Tanaka hired one. Both companies are also slated for day three.
However, offers from US-based firms have decreased, owing to difficulties in obtaining work visas. Only three US-based companies — Microsoft, Uber and Oracle — reportedly offered students jobs this year. Google and Facebook stopped offering offshore positions since last year. Financial services firm Visa, which had reportedly selected a student for its US office last year,did not make any international offers this year.
While the pay packages offered by Japanese firms do not match those of US companies, many students applied to them, seeking a chance to work abroad. Sources said these companies offered annual salaries ranging between 20lakh and 60 lakh yen. Another source said Japanese firms offered packages ranging between 30lakh-40 lakh yen.
“We tried to get more international offers this year. The Japanese companies made offers that are more or less at par with Indian firms. Students choose them based on their own preferences,” said a student who works with IIT-B’s placement cell.
An MTech student who was placed at Yahoo, said there is a belief that Japanese companies do not pay as much as Indian companies. “Pay packages differ from company to company. Rakuten and Yahoo pay 60 lakh yen a year. One has to factor in the cost of living in Japan [before making a decision],” he said.