IIT placement teams exercise caution in accepting invites from startups and e-commerce firms to hire candidates on account of past incidents of delayed offers and offer revokes.
The placement season at the Indian Institutes of Technologies (IITs) across the country saw a dominance of large companies and multinational corporations among the top recruiters. While e-commerce wasn’t shunned, the numbers remained low.
Across IIT campuses, IT companies as well as core software firms recruited a large number of students. As per information from the placement committees of the institutes, Goldman Sachs, Microsoft, ITC were among top companies visiting the campuses on the first day. There was also a significant increase in international offers.
“We have not taken too many startups considering their past history. Only the top four to five companies in the e-commerce space are being called so that students are not inconvenienced by offers revoked or delays in joining dates. Further, there has also been a crackdown on fake companies,” said a senior placement official at one of the IITs.
At IIT Bombay, on day three more than 100 offers were rolled out of which 7 were for International roles. Top recruiting firms on Day 3 (for domestic roles) were Cleanmax, Citi, Robert Bosch, SAP Labs. For the first 3 days, IIT-B got total 47 international offers and including the pre-placement offers (PPOs) the overall count is 60 as compared to the last year count of 50.
According to the placement team at IIT-B, international offers (for Day 1-3) went up by almost 20 percent this year because of increase in the number of US offers while the rest of it can be associated with the increased participation of Japanese firms.
Similarly, IIT Roorkee saw over 400 offers (including PPOs) handed out to students this year. The Institute received 274 offers on Day 1 and Day 2 taking the total tally this season to over 400 offers. The institute received 13 international offers from Microsoft Redmond, Webstaff and Mercari.
A total of 274 offers have been made so far on the first 2 days of the placement season. Out of these, 92 were core sectors and 182 were non- core sectors offers. Some of the companies which have visited the campus for placements so far are Microsoft, Goldman Sachs, Mercari, Uber, Tower Research, Schlumberger, ISRO, ONGC, Webstaff, Qualcomm, Oracle, Flipkart, Walmart, JP Morgan, Samsung, among others.
NP Padhy, Placement In-charge, IIT Roorkee said, “This is a tremendous start to the placement season. This is one of the best starts and we hope to capitalize on it and end on a new high.” Their graveyard session saw participation of 9 companies and 315 students sat through the session for placements. Goldman Sachs, Microsoft, Uber, Tower Research, Schlumberger, ISRO, Webstaff, ONGC, and ITC were part of the graveyard session.
Last year, IIT Bombay had blacklisted nine companies for one year including GPSK, IndusInsight Portea Medical and Peppertap for issues related to offer revoked, joining delayed and companies being fake. IITs as a whole had blacklisted about 31 companies in 2016 for similar reasons.
Among others, IIT Madras received 195 offers on the first day. Last year (2016-17), IIT Madras saw 27 companies making 160 offers on day one.
At IIT Madras, the total number of international offers have also increased. This year saw 11 international offers (9 offers in Session 1.1 & 2 offers in Session 1.2) on Day One as compared to 3 international offers received last year (2016-17).
Here too, companies that made more than 10 offers this year (2017-18) are EXL Services, Goldman Sachs, Microsoft, and Samsung Research Institute Bangalore.
Startups and e-commerce companies plan their expansion and hiring strategies based on the funds received from their investors. Any delay or aberration in the same has resulted in sudden changes in the hiring plans in the last few years, due to which the institutes have remained cautious.In 2017 too, while no lists were officially released on banning some companies from IIT campuses, placement officials said that they have unofficial names of companies who haven't been invited to the institutes, including mid-size fintech and health startups.