The Indian Institute of Technology-Bombay (IIT-B) saw an 18% drop in the number of job offers made to its final-year students in the first phase of placements. A total of 946 offers were rolled out during the campus placement season between December 1 and 15 — a four-year low — according to data released by the placement office of the institute. While the number of preplacement offers has jumped to 182 from 164 last year, the total number of offers has dropped significantly.
Of the total 1,128 jobs offered, 973 have been accepted by students. The economic slowdown in view of the Covid-19 pandemic and logistical challenges are some of the reasons cited by the placement office for the slouch.
“Comparison (of this year’s statistics) with previous years would not be fair, considering the economic, travel and logistical challenges faced during this pandemic year. The placement office has endeavoured to minimise the impact of the Covid-19 pandemic on student recruitment process and has optimised selection outcomes,” the placement office said in a statement.
In view of the Covid-19 pandemic and the subsequent lockdown, the institute had decided to conduct the entire placement process online. Interviews and selection exams were conducted online, thus allowing students to participate in the process from their homes.
The number of public sector undertaking (PSU) visiting campus, too, has dropped further this year. Two PSUs picked up five students this year as compared to the same number of companies recruiting nine students last year. In comparison, six PSUs had visited campus in the first phase of placements in 2018 picking up 13 students.
Students received a total of 58 international offers from different countries such as the USA, Japan, UAE, Singapore, Netherlands, Hong Kong and Taiwan. An official from the placement cell said the highest number of job offers were from the engineering and technology sector.
The average salary, which had soared to ₹20.43 lakh per annum last year from ₹17.75 lakh per annum the year before, has dropped to ₹18.4 lakh per annum.
“The highest domestic package offered is that of ₹64 lakh per annum and the highest international package is EURO 1.57 lakh per annum (roughly converted to ₹1.4 crore),” said the official.
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