IT firms flood campus, but pay packets remain slimmer

It is placement time at the campuses of professional colleges, and students have some reason to cheer.

There are more number of vacant slots that firms want to fill, so there is expectation that many more students finishing college this year will find jobs immediately than those who finished in the previous two years.

“Placements this year are much better. Many companies are seeking to recruit, unlike last year when recruiters were rather more wary. However, there is no drastic rise in salaries,” said Vijay Dev, head of the department of placement and training, MS Ramaiah Institute of Technology.

Another trend that Dev noted this year was the promptness with which students who were selected for a job were made a formal offer of the job. “Last year, even top-rated firms waited to hand out offer letters, sometimes keeping candidates waiting for eight months, and then making no offer at all. This year, selected students have received a letter promptly.”

The top five IT firms, collectively, are expected to hire at least one lakh candidates from colleges in the state.

“Many companies are looking to hire. Although there is not much of a rise in the pay package, hiring is on in full swing,” said Varun Melanta, director, MVJ College of Engineering, adding that about 40-45 companies were expected to tour campuses until April.

Companies looking at mass hiring typically offer each candidate a pay package in the range of Rs3.1 to Rs3.3 lakh an annum. There are, however, smaller companies that target high-performing students and offer them a package of `4.5 to `5.5 lakh an annum. 

According to professor KR Venugopal, principal, University Visvesvaraya College of Engineering, the situation on the placement front is much better this year. The top companies are expected to hire nearly 200 students from each college. “IT companies are cautious this year, and the salaries they offer are lesser,” he said.

A final year engineering student from Sir M Visvesvaraya Institute of Technology, who did not wish to be named, said, “I have two job offers. It’s nice to have them, but it would have been nicer to have a larger salary package. We’ll work first, then see about higher studies.”

Over 95% of students opt to work after graduation. There are very few students entering the Masters programme.”

“Even those who intend to study further sometimes get into a firm, as there are firms that offer to sponsor higher studies and even offer employees time off work for further studies,” said Vijay Dev, head of the department of placement and training, MS Ramaiah Institute of Technology.

Varun Melanta, director, MVJ College of Engineering, offered another reason for the lack of interest in higher studies among students. “Many students are not focused, until they reach final year. After finishing the course, they are unsure of what to do next. They prefer to work and gather experience, which also helps them make a decision about the field in which they would like to specialise,” said Melanta.