IIT students are not getting jobs with packages of more than Rs 10 lakh in placements, claims the report.

To get a well-paid job, students are admission to a prestigious institute like IIT, but this report can trouble the students, let us tell you that IIT students are not getting jobs with more than 10 lakh packages in placement.

In this placement season, students are not able to get high-package jobs in the country’s prestigious institutes, Indian Institutes of Technology (IITs). Companies are offering jobs to students only for a maximum of Rs 10 lakh per annum. A report has been released regarding this, in which it has been claimed that IIT students are facing difficulties in getting placements above 10 lakhs.

The claim made in the report

A report has claimed that IIT graduates are being given an annual package of less than ₹ 10 lakh this year and the reason for this is that companies are continuously reducing hiring. According to a news published in the Times of India, colleges are trying to hire from as many companies as possible because companies that usually hire 6 students have given jobs to only one or two from the college and too. Some jobs offer a minimum salary of ₹6 lakh per annum, while others are looking for student jobs.

Global economic slowdown had an impact – Professor Suhas Joshi

According to the report, Professor Suhas Joshi, Director, IIT Indore, said, “The global economic slowdown has significantly impacted the campus placements for the 2024 graduate batch of IIT Indore. Due to the decline in the number of recruiters compared to last year, the placements The season has become challenging. To overcome this impact, IIT Indore has taken initial steps by leveraging the alumni network and trying to expand the reach of potential employers including PSUs.”

Students told the package

“Companies which used to pick 5 to 8 students till last year are picking 1 or 2 this year,” said an IIT Bombay student. Many have still not been hired. From coaching classes to start-ups, some have recently been selected in Phase 2 with a salary package of ₹60,000 to ₹80,000.

An IIT Kharagpur student said, “Spectrum Technologies offered ₹3.6 lakh for trainee engineers and ₹6 lakh for trainee design engineers. Startoon Labs and Gem Machinery offered ₹5.5 lakh annually. Skyroot offered ₹5 Offered ₹4.8 to ₹6 lakh annually.”

How is the situation in this placement season in IIT Delhi?

The report further states that a large section of IIT Delhi graduates are still looking for job opportunities through the Office of Career Services (OCS). The report claims that as of April 5, 1,083 out of 1,814 students registered with OCS have secured jobs, which means around 40% are still not employed. The report claims that in graduate programmes, 81% of the 903 students at IIT Delhi have received job offers.