As more and more layoffs surface in the tech sector, final-year students in IITs are facing a major hurdle of fewer jobs and small packages. A report by the Times of India indicates that final-year students in major IITs are being offered packages ranging between Rs 10-15 lakh annually.
Colleges are contacting multiple companies and NGOs for campus placement as traditional companies that usually hire dozens of freshers have dropped the hiring to one or two students at best.
Students who have been placed are looking for better opportunities through online job portals and with other companies due to relatively lower payscale jobs in placements
The report indicated that placement offices in the colleges are having a tough time attracting more companies and getting a lower pay scale for students.
Meanwhile, This season, numerous companies have refrained from campus hiring altogether. Even among those who have participated, job offers have ranged from Rs 60,000 to Rs 80,000 as well. The decreased job opportunities can be attributed in part to the influence of AI and the absence of major players like FAANG companies.
Many IIT-Delhi students are currently utilizing the services provided by the Office of Career Services for employment opportunities. However, 40% of the registered students are still awaiting job offers. The scenario seems more promising for those enrolled in BTech+dual degree programs. Notably, HCL Software extended an offer of Rs 21.9 lakh, Bharat Petroleum Corp proposed an annual package of Rs 19.5 lakh, while TCS and Larsen & Toubro offered annual packages of Rs 9 lakh and Rs 7 lakh respectively to certain IIT-D students.