The various Indian Institute of Technologies (IITs) spread across India have seen their best ever placement season for freshers graduating out of various courses. Along with the number of job offers, the average placement salary offered has also seen an increase. Nearly 1,400 students from IIT-Bombay were hired this year, an all-time high, in the first phase of campus placements, reported TOI. The total number of offers received was also higher at 1,723.

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In terms of pay packages offered, the highest domestic package stood at Rs 1.7 crore per annum and the highest international offer package at nearly Rs 2.2 crore per annum. Twelve students in total bagged packages of above Rs 1 crore. Salaries offered also increased, being 19 percent higher than pre-pandemic levels.

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IIT-Delhi and IIT-Madras also saw similar success during their placement rounds. IIT-D students received 1,250 offers during the first 15 days of its phase 1 campus placement, a 45 percent increase over the previous year. Compensation increased by 20 percent as well at the institution. IIT-Madras saw 73 percent of its students that had signed up for campus placement receive jobs.

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The pandemic’s thrust into digitising various sectors and segments has led to IT companies ramping up their hiring in order to meet such demands. According to estimates by staffing specialist Xpheno, top 10 Indian IT service companies like Tata Consultancy Services, HCL Technologies, Tech Mahindra, Mindtree, Infosys and Wipro will create 2,00,000 new jobs by the end of March 2022.

The stiff competition for talent has resulted in IT companies aggressively going for freshers in order to cut back on wage competition for more experienced personnel.

Also read: From TCS to Infosys: 4.5 lakh IT jobs up for grabs in India in 2nd half of FY22, says report

(Edited by : Shoma Bhattacharjee)

First Published:Dec 22, 2021 6:33 PM IST