Indian Institute of Technology (IIT) Madras has received 182 pre-placement offers (PPO) ahead of the campus placements (Phase 1), which are set to begin on December 1. The number is higher than that in 2019 against the belief that there is a COVID-induced slump in new jobs.
Last year, 170 PPOs were made by various recruiters. This year, 182 PPOs were received as of November 28.
Among the companies, Texas Instruments and Microsoft made the highest PPOs - 12 each. Qualcomm made 10 offers while Goldman Sachs and American Express made 9 offers each.
PPOs and campus placements at IITs give an indication of the employment market in the country in that particular year. This year despite the Coronavirus (COVID-19) outbreak, placement sentiment has been positive at the campuses.
Moneycontrol had reported that corporates will be back for the online campus recruitment across institutes, though there could be a marginal drop in the number of offers. Due to COVID-19, it was widely anticipated that campus placement numbers will be abysmally low since companies are being cautious about hiring.
With respect to the functional roles among the PPOs, a majority of these offers were in the IT segment (49 percent offers). This was followed by core and R&D (29 percent offers). Analytics, consulting and finance accounted for 19 percent of the PPOs while FMCG offers were at 6 percent.
Students who intern with a company are given PPOs based on their performance during the internship.
CS Shankar Ram, professor and advisor (training and placement), IIT Madras said, “The sustained increase in the number of Pre-Placement Offers this year is a clear reflection of the academic quality of IIT Madras and its students. I am optimistic that we would be able to carry forward this momentum and our students would obtain the best possible job offers in Phase-1 placements.”
At IIT Madras, the internship drive was also conducted online amidst COVID-19. Here, 17 companies had made 140 offers on day one itself on August 30.This is the first time that campus placements are being conducted online across institutes due to the COVID-19 pandemic. Due to this, it is likely that the process could be lengthier than previous years.