Day 3 of IIT placements: Job offers continue to pour in at engineering campuses

IIT Guwahati

The third day of placements at the Indian Institutes of Technology (IITs) saw the trend of 15-20 percent increase in job offers and salary packages continue.

Moneycontrol had reported that on Day 1 of IIT placements, there was a 20 percent increase in the number of offers and salary figures as per initial estimates. On Day 2, the trend of Rs 50 lakh-plus packages continued.

Campus placements at IITs give an indication of the employment market in the country in that particular year. Despite the Coronavirus (COVID-19) pandemic, placement sentiment has been positive at the campuses this year.

At IIT Guwahati, the placement process for Phase 1 started from December 1, 2020, in completely virtual mode.

By the end of Day 2 (December 2), a total number of offers made by companies are 486. These include 133 pre-placement offers. The institute said in a statement that close to 128 companies participated in the campus placement in the first two days.

The highest domestic package offered this year (so far) is Rs 70 lakh compared to Rs 52 lakh received last year. In addition, so far, there were four international offers as of December 2.

Companies like Google, Microsoft, Goldman Sachs, Qualcomm, Texas Instruments, Adobe, Oracle, Walmart, Bajaj, American Express, Uber, Accenture Japan, MTX, PhonePe, Jaguar, Mercedes, JP Morgan, Amazon, SAP, Cisco, EXL, Intel, Sprinklr, Cleartax, Axis Bank, SocGen, Flipkart, and many more have participated in the placement process so far.

There were 107 companies which visited the campus as of the first slot on day three at IIT Roorkee. There were 484 offers rolled out to students including PPOs.

The companies who participated in the placement process include Accenture Japan, Axis Bank, Adloid, Clumio, Dgraph, Eaton,  HiLabs, Icertis, Navi, Oil India Ltd, Praxis Global Alliance, Paytm, Publicis Sapient, Standard Chartered, and Udaan among others.

IIT Roorkee said in a statement that the highest CTC stood at Rs 80 lakh (domestic offer) as of 7am on December 3.

As reported by Moneycontrol earlier, corporates are back in full force across the IITs for the placement process that is being held virtually for the first time ever amidst the COVID-19 pandemic.

Due to the pandemic, it was widely anticipated that campus placement numbers will be abysmally low since companies are being cautious about hiring. However, the hiring numbers have broken this myth.