Twitter
Advertisement

IIT Bombay sees lower participation from start-ups

First day of IIT Powai saw participation of more than 32 companies with 150 placement offers

Latest News
article-main
This year the institution’s focus is on job quality and security
FacebookTwitterWhatsappLinkedin

The ongoing placement season at IIT Bombay, which began on December 1 will see recruiters line up till December 17. At the end of day one, major recruiters included Goldman Sachs Services, ONGC, Texas Instruments India, Microsoft, GE India, Airbus Group India, Cairn India, NEC Japan, Murata Group Japan, Qualcomm, Schlumberger Asia Services Ltd., Tata Steel, Xerox Research Center, etc.

According to a statement released by IIT B, core placements are expected to increase significantly this season, with many Public Sector Units (PSU) and universities/colleges approaching the Institute. In addition to ISRO, Coal India and HPCL which visited IIT Bombay last year, new PSUs include Oil & Natural Gas Corporation (ONGC), BPCL and Bharat Electronics Limited (BEL) among others.

Students of the Institute have also have shown an increased interest in taking up core jobs as compared to last year. There were more than 150 offers with the participation of 32+ companies on the first day of placements. Among this more than 20 are overseas job offers. The core engineering sector has the highest registrations. The demand for data analytics role is the same as before.

Further, both established and upcoming colleges/universities are looking for high-quality hires to fill educational roles and professorships. This would primarily provide a significant boost to placements of over 100 registered PhD students across departments. The number of these universities has doubled to over 20 as compared to 7 last year, resulting in a more diverse set of roles being offered and a larger number of placed students.

According to reports, Uber, the new entrant is expected to offer the highest base package of $110,000 per annum or Rs 75.62 lakh, along with $120,000 stock options over four years and a performance bonus of $40-60,000 annually.

IT giant Microsoft is expected to offer a base package of $106,000 or Rs 72.87 lakh plus $5,000 as signing bonus, full relocation, $15,000 stock options each year for four years. Oracle will be offering 1,300 restricted stock units (RSUs) along with the base package of $100,000 per annum, $15,000 signing bonus and $10,000 relocation bonus.

But, the placement season at IIT Bombay will see a significantly lower participation from start-ups this year. Taking into account the multiple revoked/altered offers from start-ups last year, the placement office at IIT Bombay has taken a cautious stance. The focus is on job quality and security. Another reason for poor turnout of start-ups could be lower funding in the start-up ecosystem.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement