The first drive of pre-placement offers (PPOs) at Indian Institutes of Technology (IITs) across the country paints a robust hiring picture for the 2023 batch, according to The Economic Times.
The IITs of Delhi, Madras, Varanasi, Guwahati, Gandhinagar and Mandi have witnessed a 15-75 per cent increase in PPO numbers compared to a year ago, with the highest disclosed salaries offered so far at Rs 91.2 lakh to Rs 1.2 crore.
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Amazon, Microsoft, Adobe, Salesforce, Texas Instrument, Qualcomm, Walmart, Bain & Co and Boston Consulting Group are among companies that have already made the PPOs.
In PPO, companies make offers based on the performance of interns. The flow of PPOs will gain momentum in September-October and continue till the final placements begin in December.
IT/software, core engineering, finance, analytics and technology sectors are the most bullish on PPOs, said the report.
Despite concerns around overall IT hiring slowing down, campus recruitment still remained a preferred choice for companies because of the cost factor, and also because fresh graduates can be trained in in-demand skills facing a supply crunch.
Sathyan Subbiah, adviser (placements), IIT-Madras told The Economic Times that the institute has seen a 33 per cent year on year jump in PPOs to 213 till Monday.
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At IIT-Guwahati, the number of PPOs received till August 19 at 182 had already surpassed last year’s total of 179. The highest offer is Rs 1.2 crore, and Providence, DevRev, Winzo, John Deere and Salesforce have made PPOs for the first time. IIT-Delhi received 150 offers till August 18, compared to 230 in the whole of last year, according to the report.
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