IIT campus placement sees 50 % increase in number of companies
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Bucking the sluggish job market, IIT Bombay is witnessing a 50 per cent increase in companies coming in for campus recruitment this year. IIT-Bombay, which began its final campus placement on Saturday, is expecting an overall rise in pay packages by 10-30 per cent this year.
At IIT-B, around 300 companies have so far registered for placement process in the first phase of final campus placement. This year around 35 companies conducted interview on day one as compared to 29 companies last year on day one.
The hike in average pay package being offered over last year coupled with the fact that 300 companies are scheduled to come in December alone, are indications of a very healthy hiring season ahead, said institute authorities.
According to placement officials at the institute, companies seem to have an upbeat hiring plan and the institute expects an increase in the number of companies as the placement season progresses, they added.
"The placement process has started on a good note. The response from companies has been pretty good. It does not seem like there is a job crunch in the market. Confirmation of around 300 companies in the campus placements for December alone is a very good indication," said Avijit Chatterjee, professor-in-charge of placements at IIT Bombay.
The first phase of placement will be held between December 1 and December 18, while the second phase would begin in January.
While companies start visiting the Powai campus from August onwards, formal interviews start from December 1.
IIT-Bombay would be placing 1,300 students (Btech, Mtech, dual degree, MSc, MPhil and PhD) this year, out of which 400 students participated for placements process on Saturday, informed a placement officer.
While the authorities declined to share details of the pay-package offered on the day one, there seemed to be between 5-10 per cent increase in pay packages as compared to last year said Chatterjee.