The campuses of Indian Institutes of Technology are buzzing this year with pre-placement offers. Many companies seem to prefer hiring students who worked with them as interns.
So, despite the slowing economy, these campuses have seen an increase in the number of such offers this year.
According to Damini Gandham, Dual Degree student at IIT-Madras, “Earlier, when we used to approach companies for recruitment, many of them said they don’t have a structured programme for internships. However, this year, more companies formalised an internship process and have come forward to recruit students for internships.”
IIT-M has already received 55 pre-placement offers this year, while last year the institute received 30 offers. Four students at IIT-M also went through interviews with the companies that they worked for during their internship for placements. IIT-Guwahati has received 45 pre- placement offers along with four pre-placement interview offers.
Avijit Chatterjee, Professor-in-Charge, Placement, IIT-Bombay (IIT-B), said “We are expecting a lot of pre-placement offers this year as the number of internships increased over 40 per cent last year. Till now, we have received 75 offers. We are expecting more pre-placement offers as few companies who give offers every year have not yet released them.”
IIT-Kanpur has received 85 pre-placement offers so far this year compared with last year’s 75. “Recruitment through internships is better because the company is able to assess if the student is a right fit for the company. Also, since the student has worked there, he has a better understanding of the company’s work culture and expectations,” Amit Saraswat, Overall Placement Coordinator, IIT-Kanpur.
“After interning at a leading investment bank, I realised that just analysing financials of various companies is not really my interest, so I have rejected the pre-placement offer that I got from them. Now, I would like to try my hand at management consulting as I feel I will have a more diverse exposure. There is a slight risk as one consulting firm has dropped out of recruitments this year,” said a B. Tech student from IIT-B, requesting anonymity.
Harish Y.V.S., Placement Co-Ordinator, IIT-Guwahati, said, “The pay package has seen an increase in almost all the companies compared with last year. Moreover, in India, students were offered 21.4 lakh per annum by an organisation, which is the maximum so far. Among international offers $1,25,000 is the highest.”
The final placements of IITs are scheduled to begin on December 1.