Campus Placements: 8,000 IITians Yet To Find Jobs, Salary Packages Of Graduates Also Drop

In a telling sign of the current crisis in the job market, students graduating from some of the most prestigious engineering institutes in India are finding it increasingly difficult to kickstart their careers. IITs, which during this time of the year are usually busy celebrating the achievements of their students who were absorbed by big tech companies with massive salary packages, are now struggling to get their fresh graduates placed.

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38 Per cent unplaced in IITs?

All 23 IITs have been left with hundreds of unplaced graduates, a new report has said. According to Dheeraj Singh, an IIT Kanpur alumnus and the founder of the Global IIT Alumni Support Group, 38 percent of IIT graduates this year have been left unplaced.

He said that 8,000 IIT students are yet to be placed via campus placement this year, which is a shocking 38 percent of the students who had registered themselves for placements. Out of the 8,000 unplaced students, 6,000 are from the nine older IITs and 2,000 from the 14 newer ones.

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Average salaries drop

Along with the increase in the number of unplaced IIT students, there is also a decrease in the salary packages those who found placements have been offered.

According to Singh, a total of 21,500 IITians had registered for placements this year, out of which 13,410 have been recruited by companies while 8,090 are yet to be placed.

Campus placement in IIT Kanpur, Bombay

IIT Kanpur, which had a total of 1,417 students registered for the placement drive in 2023-24, saw 1,045 of them getting placed, while 372 did not get a job offer.

The average salary package was Rs 24.4 lakh per annum and the median salary was Rs 18 lakh per annum.

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At IIT Bombay, over 300 fresh graduates are also yet to find campus placements.

Also read:?After Laying Off 19,000 Employees, Accenture Delays Joining Of College Graduates

Why IITs have so many unplaced students

Uncertainties in the job market, including the continued layoffs and hiring freezes in tech companies, have been blamed for the poor placement rates in IITs this year. Many IITs?had?also reached out to their alumni network to improve their campus placement record.

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