34 companies visit IIT-B on day 1 of placements | mumbai | Hindustan Times
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34 companies visit IIT-B on day 1 of placements

A total of 34 companies visited the Indian Institute of Technology-Bombay (IIT-B) campus on the first day of the recruitment process on Thursday. Last year, 28 companies participated in the placements.

mumbai Updated: Dec 02, 2011 01:31 IST
Bhavya Dore

A total of 34 companies visited the Indian Institute of Technology-Bombay (IIT-B) campus on the first day of the recruitment process on Thursday. Last year, 28 companies participated in the placements.

Around 450 students appeared for interviews on the first day, compared to 200 who did on the first day last year. "We have had much more interest, and the interaction with companies has been very vibrant," said Ravi Sinha, professor in charge of placements.

Companies such as Boston Consulting Group, Google India, Facebook, Citibank India and McKinsey and Company visited the campus on the first day - all previous recruiters. The only new company to visit this year on day one was Optiver, a financial trading company.

Sinha did not say how many offers were made on the first day because the process lasted until 2am on Friday.

This year, students had the flexibility of appearing for interviews through the day as opposed to the previous system of sitting in either the first or the second slot. Earlier, those who got offers in the first slot were ineligible for the next slot, even if a company that ranked higher on their preference was coming in later. "This has allowed a more balanced combination of student interests and companies' interests," said Sinha.

Placements at IIT-B are considered to set the tone for the remaining placement season, which continues in institutes through January and February.

Sinha said the 250-plus companies registered have offered students packages, up by 10% to 20% compared to last year, despite uncertain global economic conditions.

Last year on day one, 28 firms offered 119 jobs, with a 50% rise compared to the previous year in the number of companies visiting. In 2010-11, 286 offers in all were in the above Rs 8.5 lakh category.

Around 1,300 students will be placed by the end of the process this year, which will last until June.