A lot of students aspire to join IIT with the hope of securing good placements. However, what is the ground reality of employment opportunities at this prestigious institute? Recently, Indian Forest Service (IFS) officer Gaurav Garg took to X to share four significant points about placements in IITs.
First, he mentioned that "Fresh IITians get a salary of around ₹6 lakh to ₹35 lakh. With higher packages offered to CSE, ECE graduates invariably." (Also Read: As 36% of students fail to get placed in IIT Bombay this year, people raise concerns over employment)
Second, he said, "Figures of crores to IIT Bombay, IIT Delhi, IIT Madras IIT Kanpur and other #IIT students are mostly from USA/Singapore/abroad based companies and in coding domains. Example - #Google, #Facebook, #Twitter etc."
{{/usCountry}}Second, he said, "Figures of crores to IIT Bombay, IIT Delhi, IIT Madras IIT Kanpur and other #IIT students are mostly from USA/Singapore/abroad based companies and in coding domains. Example - #Google, #Facebook, #Twitter etc."
{{/usCountry}}Then he said, "The salary packages include the ESOPs, leave encashment, staggered payments in 4-5 years etc. Sometimes, the in-hand salary is only 40-50% of #CTC quoted."
In the end, he added, "Average salary package offered (except computer science ) is 10-12 Lacs per annum with core branches like mechanical, civil engineering getting placed on the lower side." (Also Read: IIT-IIM grad on how the premier institute changed education for Kanpur, Indore, Jammu students)
This year, IIT Bombay has failed to find jobs for 36% of students. 2,209 students enrolled for placements, out of which only 1,485 secured jobs through campus.
An official from the IIT-Bombay placement cell told HT that it was a struggle "to invite companies to the campus compared to last year due to the global economic meltdown".
"Most companies were unable to accept salary packages pre-decided by the institute. It took many rounds of negotiations before they agreed to come over. For the first time, registered students from the computer science and engineering branch, which are most in demand, have not seen 100% placement among those registered," added the IIT official.