10-20% pay hikes likely in IIT-B placements
Students at the Indian Institute of Technology-Bombay (IIT-B) are expected to get job offers with a 10-20% hike in salaries as compared to last year, when the campus placements begin on Thursday.mumbai Updated: Nov 30, 2011 00:42 IST
Students at the Indian Institute of Technology-Bombay (IIT-B) are expected to get job offers with a 10-20% hike in salaries as compared to last year, when the campus placements begin on Thursday. Despite the global economic slowdown due to the Euro crisis, more than 200 companies have registered with IIT-B to hire students from the institute.
“It is significant that companies want to recruit at higher salaries despite the uncertain economic conditions,” said Ravi Sinha, professor in charge of placements at IIT-B.
Last year, 286 students received job offers above Rs 8.5 lakh per annum, which means this year’s offers could be above Rs10 lakh per annum. The placement season lasted until June last year, with 260 companies recruiting from the campus, but Sinha said it was difficult to predict at this stage how many companies would visit the campus.
This year, however, interviews would be conducted through the day as opposed to distributing students in different time slots.
The placement forecast so far has been bright this season with institutes managing good summer placements and companies making pre-placement offers to several students.
“Despite a downgrade in the growth forecast, the Indian economy has been growing quite well,” said Abhay Pethe, professor in the economics department of Mumbai University. “Graduates from top and middle level institutions won’t face difficulty in finding jobs.”