Indian Institute of Technology (IIT) Madras saw a 17 percent rise in pre-placement offers (PPOs) ahead of its final placement process this year.
This, despite the economic slowdown and the institute's own guarded outlook in June, when it said that the offers could be down by 5 percent.
In a statement, IIT Madras said that 158 students have secured PPOs (as of 22nd Nov 2019) as against 135 during entire 2018-19 academic year. The placement process will begin in December.
A total of 1,334 students have registered for placements for the academic year 2019-20 at IIT Madras. 170 companies have registered for the first phase of the placement process. They will be recruiting for a total of 322 profiles, including 35 international profiles. As many as 54 startups have also confirmed their presence in the recruitment process.
PPOs are given to those students who intern with a company in May-June of the previous year. Based on the student’s performance during the internship, the PPO is rolled out.
Sources said that the older IITs, including the ones at Bombay, Delhi, Kanpur, Kharagpur and Madras, are expected to have a better placement season than the others. Number of offers are expected to go up by 15-20 percent while the compensation may see a 25-30 percent rise.
"Companies are not talking of any slowdown as far as hiring engineers is concerned. In fact, confirmations by firms on participation in the placement process have come at least a month in advance this year," said an IIT placement official.
Among companies, technology, software and startups are expected to dominate the campus placement process.
Manu Santhanam and C S Shankar Ram, Advisors (Training and Placement), IIT Madras, said, "The trend of increasing PPOs through our internship program continues this year. This hopefully is a harbinger of a strong placement season."PRE-PLACEMENT OFFERS AT IIT MADRAS: RECENT YEARS
*(As on Nov 22, 2019)
PPOs are an indicator of how the final placement process will pan out. The final placement process, which takes around six to eight weeks to get completed, will begin in the next two weeks across all 23 IITs.
Engineering students across the IITs are offered jobs in sectors like manufacturing, construction, automobiles and information technology.