Most engineering graduates get peanuts: Study

NEW DELHI: Skyrocketing salaries paid to the corporate CEOs might have ignited a debate in the country but the picture is not that rosy for engineering graduates,
with just 2.5 per cent getting paid over seven lakh per year.
    
A 'Compensation Survey and Student Perception' study by CareerNet Consulting revealed that out of the four lakh engineering graduates produced by the country every year, only 2.5 per cent draw upwards of Rs 7,00,000 per annum.
    
The study, which surveyed over 1,500 students from 110 engineering colleges including the IITs across the country, found that 63 per cent of the students were hired at an annual package of Rs 2-4 lakh.
    
"The number of high end companies looking for quality people is very less, so is the availability of quality personnel, which is the reason why a huge majority of engineering graduates have to remain content with lesser pay," said CareerNet Consulting Co Founder Rishi Das     

He said IT product companies like Cisco, Freescale and Motorola pay in the range of Rs 4-6 lakh, while high-end firms like Adobe, Microsoft, Yahoo and Citirx offer between Rs 7-10 lakh depending on the quality of professionals.
    
The study showed IT product companies remain the first choice of students who graduate into engineers as they pay well but since these companies do not hire in bulk and also are very particular about quality, most of the engineers have to opt for IT services companies like Wipro, TCS and Satyam.