Amid a challenging job market, IIT Bombay struggles with placements as 36% of students remain jobless.
In the backdrop of a tumultuous job market, concerns loom large over employment prospects for recent graduates, with IIT Bombay, one of India's premier institutes, bearing the brunt of the downturn. Despite its prestigious status, the institute has encountered significant hurdles in securing placements for its graduating class of 2024.
Recent reports indicate that out of the approximately 2,000 students who enrolled for placement assistance, a staggering 36%—amounting to 712 students—are still on the hunt for job opportunities. This development marks a departure from the institute's previous track record, where it consistently ranked among the top institutions in the country for placements.
Traditionally, IIT Bombay's computer science and engineering branch boasted a flawless record of 100% placements. However, this year has seen a deviation from the norm, reflecting the broader challenges plaguing the job market. An official from the institute's placement cell attributed this setback to the global economic downturn, citing companies' reluctance to commit to predetermined salary packages.
Moreover, discrepancies have emerged regarding salary offers, with initial reports indicating a significant number of high-paying offers. However, subsequent corrections revealed a more modest figure, underscoring the complexities of the current job landscape.
As the placement season extends into May 2024, students find themselves grappling with tough decisions regarding job offers, with some exploring alternative avenues rather than settling for initial proposals. The evolving dynamics of the job market, coupled with a shift towards domestic talent acquisition by many companies, further compound the challenges faced by both students and recruiters.
In response to these developments, stakeholders are urged to collaborate on devising strategies that align with the evolving needs of students and the realities of the current job market scenario. Despite attempts to reach out to IIT Bombay for comment, no response has been forthcoming thus far.
The news of placement woes at a prestigious institution like IIT Bombay has sparked conversations on social media platforms, with many expressing shock and concern over the gravity of the situation.
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