Firms go slow on campus hiring
With the placement season almost coming to an end, packages offered during the placement season at Panjab University and PEC University of Technology has left the students asking for more. The authorities concerned blame it on economy slowdown and slow job market and maintain that companies hiring were really choosy this academic session.punjab Updated: Jan 13, 2013 10:26 IST
With the placement season almost coming to an end, packages offered during the placement season at Panjab University and PEC University of Technology has left the students asking for more.
The authorities concerned blame it on economy slowdown and slow job market and maintain that companies hiring were really choosy this academic session.
Whether it's University Business School (UBS) or University Institute of Engineering and Technology (UIET) at PU or PEC University of Technology, none of them has been able to secure 100% placements so far.
Besides, the average pay package is not more than Rs 4.5 lakh per annum for both PEC and UIET.
At UBS, only 48 out of 140 students have been placed so far. The highest pay package that the department has bagged is Rs 8.3 lakh per annum, which has been offered to 10 of its students.
Explaining the scenario, Prof Sanjay Kaushik, who is heading the placements for UBS, said, "I agree that the pace of placements is slow this year, but we hope that all our students will be placed soon. The companies are a bit choosy. Besides, the cap of minimum Rs 5 lakh per annum package has also slowed down the placements."
The UBS authorities said, "Earlier a company used to hire four to five students or even more, but this year some companies ended up hiring just two students." The authorities imply that the intake by companies has reduced as compared to previous years due to the economic slowdown.
At UIET, around 70% placements are over and the average pay package per annum is nothing beyond Rs 3.8 lakh.
While the authorities from the department said about 35 companies have visited so far, the department hasn't been able to have 100% placements for its students. The highest pay package offered to two students is that of Rs 10 lakh per annum.
The authorities here too blame it on slowdown and maintained that companies were really taking time hiring students.
Meanwhile, another one of the premium institutes - PEC University of Technology - has recorded also only about 75% placements.
A faculty member overseeing placements said, "The placements were stalled in between due to the semester exams. We will again start the process on January 14, following which all students will be hopefully placed."
Students at the institute have so far bagged Rs 4.2 lakh per annum as the average pay package for BE students and Rs 3.75 lakh for ME students so far. Meanwhile, the highest pay package so far has been Rs 16.8 lakh by Microsoft.
Figures that matter
Institute Highest pay package Students placed
UBS Rs 8.3 lakh per annum 34%
UIET Rs 10 lakh per annum 70%
PEC Rs 16.8 lakh per annum 75%