As IIT alumni from across the world converge in Mumbai to discuss India, we ask students at IIT-Bombay if they plan to go abroad.
As IIT alumni from across the world converge in Mumbai to discuss India, we ask students at IIT-Bombay if they plan to go abroad or stay back in their fast developing country.
Brain drain is a thing of past
Many companies are coming to India. Even in consultancy, which is my area of interest, lot of companies have set up their offices here and send you abroad for projects. The IIT brain drain is a thing of the past. Most IITians have settled in India. If I get a chance to go abroad, I will, but I will return after making money. Money is always the first preference.
If the salary offered in Indian firms match up to foreign companies, who wouldn't want to stay? Interest in the public sphere is an individual decision. But IITians do give back what they take from here. Many have provided funds for research projects and other things.
I can see the economic growth of India reflecting in our packages. Earlier, where we used to start with four lakh, it is four-and-a-half to five lakhs now. Yet, it’s not much compared to foreign companies. Even when I return to India, I don't think I will work for an Indian organisation. I would want to join an MNC based in India.
— Ankit Mathur. Jodhpur, IIT-B
I love India, but it doesn't pay
I love India. I’d love it if I get a lucrative job here. I'd love to work in Kolhapur, my hometown. But the fact is that Indian companies don’t pay as much as Multi-National Companies (MNCs) do. And that might eventually force me to look at options overseas.
If a chap is good enough to crack five rounds of interviews at McKenzie, why will he settle for anything less? Of course, family is important and I would love to stay with them. After all, how much I earn isn’t as important as how I earn it. If the pay-package is attractive, I wouldn’t hesitate in flying out.
Most students go abroad to pursue higher studies. They take up research or a doctoral programme abroad and eventually return to India. What brings them back is the cultural pull, and of course the fact that the Indian economy is on an upswing and opportunities are aplenty. However, that isn’t true for core sectors which still pay around Rs4 lakh per annum.
— Alok Kulkarni. Kolhapur, IIT-B
MNCs offer really good salaries
Anyone who questions why IITians go abroad just has to look at the salaries MNCs offer. Having said that, most IITians who go abroad do so for higher studies eventually return.
Those who complete their BTech are in their early 20s and look for lucrative jobs abroad and those who complete their PhD are in their 30s and want to live with their family. I would like to work in India, but MNCs offer really good salaries.
— Mahesh Joshi. Kolhapur, IIT-B
IITians will build the nation
People who want to venture into the public sphere will do it, IITians or not. But an IITian’s first priority is placement and career. We might play a more active role in nation-building in future. IIT is already working on on projects funded by the government.
— Gourav S. Kharagpur, IIT-Kgp
Career is the priority
Being in the final year, we have started applying for jobs and so far it has been only Indian companies. I am planning of joining a consultancy firm. This sector is opening up in India.
I am searching for jobs in Mumbai, Pune and Bangalore, but that does not rule out the flight abroad. One thing I have realised is that you can't stay abroad forever. I did a three-month internship in Australia. Initially I was dazzled by the place, but the bond to India pulls you home.
In 1992, 50 per cent of IITians went abroad, but today less than 15 per cent do. Today, only those IITians who want to do a PhD or pursue higher education go abroad. As IITians have the reputation for frequently changing jobs, Indian companies make them sign a three-year bond. MNCs on the other hand have no such compulsions and also offer better packages. Either way, career takes precedence over everything else. If I go abroad, it will be for my career and when I return, that too will be for my career, and not for the nation.
— Koser Ali. Udaipur, IIT-B
IIT-B profile
IITs are a group of seven autonomous engineering and technology-oriented institutes of higher education established by Government of India.
IIT Bombay was the second IIT to be established in 1958.
IIT-Bombay campus is spread across 550 acres.
The first academic session of IIT Bombay opened on July 25, 1958 at SASMIRA.
Since 1953, nearly 25,000 IITians have settled in the USA.
Percentage of IIT students going abroad has dropped from 70 per cent to around 30 per cent over the past decade.
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