Large chunk of IIT grads grapple with lack of placement, claims alumni support group

For students who are not able to secure jobs, Singh suggested that they try to accept the available job offer as getting employed is much more important in a down market than maximising salary. (Illustration by Suneesh Kalarickal)

Some of the Indian Institutes of Technology (IITs) are facing hurdles in securing placements for their students of the current batch because of poor employment opportunities, claims Dheeraj Singh, IIT Kanpur alumnus and founder of Global IIT Alumni Support Group.

He said around 30 percent of students are still unplaced in the top-ranked older IITs and around 50 percent of students are still unplaced in the newer IITs.

Based on the data shared by unplaced IIT students in his mentoring group, Singh claims around 32.6 percent of students are unplaced in IIT Madras, 35 percent in IIT Kanpur, 36 percent in IIT Bombay, 30 percent unplaced in IIT Kharagpur, 30 percent unplaced in IIT Guwahati, 40 percent in IIT ISM Dhanbad, 40 percent in IIT Hyderabad, 45 percent in IIT Jammu, 35 percent in IIT Delhi, 35 percent in IIT BHU Varanasi, 40 percent unplaced in IIT Patna, 35 percent unplaced in IIT Gandhinagar, 25 percent unplaced in IIT Goa, 50 percent unplaced in IIT Bhilai, and 30 percent in IIT Bhubaneswar.

Moneycontrol reached out to all mentioned IITs and the story will be updated accordingly.

IIT Madras responded to the query, saying placements are still ongoing. “Students have varied interests - to pursue higher studies, some want to establish their own startups and venture into entrepreneurship, while some want to attempt competitive exams including civil services. They take time to decide. The placement data will be available at the end of July 2024, post convocation,” the institute told Moneycontrol in a statement.

Last week, IIT Bombay contradicted the reports of alarmingly high joblessness among its latest graduates by releasing data from an official exit poll on April 4 indicating only 6.1 percent of its 2023 class remains unemployed.

However, Singh claimed that 36 percent of IIT Bombay students, 712 out of the 2,000 registered for placements, are yet to secure jobs. The placement that began in December ends in May this year.

“These large numbers of unplaced students are dealing with a high level of stress and anxiety and hopelessness staring at the bleak future prospects due to the poor job placement scenario… Furthermore, the salaries offered by the recruiting companies have gone down substantially from crore-plus packages in phase one to barely Rs 5 lakh per annum and paradoxically at the same time the number of billionaires our country is producing is at an all-time high,” Singh told Moneycontrol.

According to him, IIT students are facing twin challenges, high unemployment and severe underemployment.

“IIT Bombay has clarified that 57 percent are placed via campus placements" and that the remaining 43 percent are pursuing other options. Is it by choice or discouraged by the job scenario?” Singh questioned, adding that “IITs should share the percentage of students placed via campus placements in the past 5-6 years with average salary figures.”

For students who are not able to secure jobs, Singh suggested that they try to accept the available job offer as getting employed is much more important in a down market than maximising salary which is done in an up market.

“Improve skills levels, learn to do networking and seek job stability over high CTC initially. First gain experience and visibility in the job. Value will come later. Don't chase savings in the first job in a down market. Downmarket this year can change into up market next year,” he added.