Indian Institutes of Technology has started recruiting employees on 1 Dec 2022,Thursday in this placement season and depressing situation to accept has been created in the economy. Ratio of international postings is lower in this year in comparison with last year and the highest international compensation is not much more than Rs 1 Crore p.a.
But this doesn’t mean the Indain economy is in no hope situation. After all this, the domestic comapmies started hiring up the employees in huge number with a comparatively higher package what international companies were providing for the same job. Hybrid model(offline and online both) for interviews too started this year.
Highest domestic package in the last placement season reached upto Rs 1.8 crore whereas that of international package touched the line of Rs 2.05 crore. In the current year, Guwahati IITians received the highest package for 2 students: global offer with Rs 2.4 crore and domestic offer with Rs 1.1 crore.
Abhishek Kumar, head of Center of Carrer Development,IIT-Guwahati added “A lot of companies that offered PPOs also came to campus for regular recruitment this year.”
Out of total 445 offers, students of IIT-Madras in the first session received a sum of 25 offers having packages of more than Rs 1 crore out of which 15 were international offers from four companies and many other offers from Texas Instruments, Bajaj Auto, Qualcomm, JP Morgan Chase, Graviton, Cohesity with varying numbers of 14,10,8,9,6,5 respectively.
Besides these, several American firms are asking college students by citung issues of H1B visas to onboard domestically in their Indian offices before relocation to US which IIT-Madras is considering as international offers.
Around 2,200 students from IIT-Bombay and 350 companies will participate in the placement drive. According to a professor of IIT-Bombay,” About 20% are first time recruiters from this campus and 10-15 are Japanese firms.”
Job allocation process has not been completed till the date (1 Dec 2022) but Bombay IITians were of the view that most of the US companies like Google, Microsoft, Apple, Rubrik, Cohesity were visiting the campus and will provide domestic roles only. Many of the worldwide offers this year, with greater packages, had been from Europe and Hong Kong. Da Vinci Derivatives and Maverick Derivatives from Amsterdam and Flow Traders from Hong Kong had been amongst the corporations that supplied greater packages.