This year, the placement session at Indian Institute of Technology - Bombay (IIT-B) was dominated by engineering job offers. The Placement 2010 at IIT-B has clearly indicative of the fact that jobs in core engineering firms were this year's flavor.
Ravi Sinha, IIT-B placement head, said that earlier, a majority of students joined the IT sector, no matter what their main area of specialization was. This year, the scenario was different and there was synchronization between what students studied and the industry they joined.
Sinha added that more organizations are now hiring fresh graduates in the R&D sector and are offering extremely specialized job profiles. Though the compensation is not very high, but that has not dissuaded students. He also added that with the economy aspiring for high-end products and services, several companies are now trying to develop products that are at the forefront of technology.
Sources informed that management consulting was the third best choice, which was followed by finance, both of which come with lucrative offers. While the number of offers in the finance sector went up from 70 to 91 over an academic year, around 95 offers were made by the consulting sector, to IIT-B students. Moreover, 69 students were recruited by the Research and Development (R&D) firms, up from last year's 54.
Total of 250 firms took part and over 950 jobs have been offered through on campus and pre-placement offers. Less number of jobs was taken up at public sector units-from 85 in 2009-10 to 46 in 2010-11. Similarly, 37 students, including several with doctoral degrees, opted for educational institutions, which is less in number from last year's 50.
The yearly remuneration indicated an increase. However, the IIT-B did not reveal the exact compensation given. The final placement report specifies that most of the most of the students walked home with lucrative offers. In 2008-09, 239 students received over Rs 7.5 lakh a year; that number went up to 336 in 2009. This year, IIT-B had 286 students who were offered compensation of over Rs 8.5 lakh per annum; another 135 graduates were offered jobs that paid between Rs 7 lakh and Rs 8.5 lakh.
