The economic slowdown in the United States might hit the recruitment of IITians this placement season.
The economic slowdown in the United States might hit the recruitment of IITians this placement season. Though students on IIT’s Powai campus are worried about losing out on some of the popular US companies for jobs, professors are positive about retaining most of the companies from their prestigious recruiter’s list.
Some of the professors, however, feel that the slowdown in finance companies will encourage more students to go for core technical jobs, which is a positive outcome.
Rajeev Joshi (name changed) from the aeronautical engineering department, said, “Though institutes will refuse to accept it, the fact remains that most of the finance related jobs will be affected. Most of the companies will be on a cost-cutting spree after the slowdown. They will stop making fresh recruitments. We are sceptical about the job offers we will get this season.”
Echoing his worries, Mahesh Ramanujan said, “It is a wait and watch scenario for us. Most students are worried after Lehman Brothers declared bankruptcy and other companies lining up for the same. They were our major recruiters.”
However, some of the professors on the campus have a different view. A senior professor, on condition of anonymity said, “It could affect the recruitment process on the campus. Students will go for more technical jobs than finance-related jobs, which is good in a way. The competency for core technical jobs will hopefully go up.” He was quick to add, “Of course, students will be worried about not getting the high-flying salaries that they get in finance companies.”
However, Professor Krithi Ramamritham, from the computer science department, IIT-B, said, “Students’ worries are understandable as they think about their worst fears when it comes to recruitments.
However, in IITs, students get multiple job offers from Indian and foreign companies. The slowdown will not have a major effect on IIT’s recruitments.” The in-charge of recruitment on the campus, however, was unavailable for comments.
Pravin Tripathi, an alumnus of IIT, and the chief executive of Hansa Consulting, said, “The slowdown will definitely affect the placements. Some of the foreign companies will be replaced by domestic ones. More domestic companies will come on the recruiters’ list. However, the demand for IIT graduates is much higher than the supply. Though sky high salaries might take a backseat for some, none of the IITians will be jobless.”
r_yogita@dnaindia.net
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