IIT-B defies slowdown as salaries for students rise
Despite the economic slowdown, placements at the Indian Institute of Technology — Bombay (IIT-B) have been better than last year. Companies made more job offers in the highest salary bracket this year as compared to last year. Bhavya Dore reports.mumbai Updated: Aug 18, 2012 09:53 IST
Despite the economic slowdown, placements at the Indian Institute of Technology — Bombay (IIT-B) have been better than last year.
Companies made more job offers in the highest salary bracket — which has been redefined from Rs. 8.5lakh and above to Rs. 9.5lakh and above — this year as compared to last year. The institute’s final placement report was released last month.
While in 2010-11 there were 286 job offers in the Rs. 8.5 lakh and above annual salary bracket, in 2011-12 there were 322 offers in the Rs. 9.5 lakh and above annual salary bracket. There were more offers in second highest salary bracket too as compared to last year. The average annual salary offered to students has increased from Rs. 7 lakh last year to Rs. 7.5lakh this year.
“We were pleasantly surprised as we had expected the slowdown to be far more profound,” said Ravi Sinha, who was the professor in charge of placements. “There has been a maturing of the process, with companies having better engagement and more confidence and students equipping themselves better.”
Even though the same number of companies visited in both years — 262 — the number of offers this year were higher, at 1,060 compared to 958 in the previous year.
The success rate for placements was best for the dual degree students at 94%, with MSc students second with 90%. Students seem happy with their placements. Nearly 40% of students surveyed from the graduating batch said they were reasonably satisfied with job offers they had got, according to data in the institute’s newsletter Insight in February.