'Not Crores, 10-12 LPA Is Average Salary Package In IITs': IFS Officer Busts Crore-Salary Myths In IITs
In the midst of discussions about IIT students facing challenges in finding jobs, especially with reports showing that about 36% of IIT-Bombay students have not secured employment, a government official has recently highlighted the true situation of job placements in Indian Institutes of Technology (IITs).
In the midst of discussions about IIT students facing challenges in finding jobs, especially with reports showing that about 36% of IIT-Bombay students have not secured employment, Indian Forest Service (IFS) officer Gaurav Garg has recently highlighted the true situation of job placements in Indian Institutes of Technology (IITs).
Not all a rosy picture, says IFS officer
Indian Forest Service (IFS) officer Gaurav Garg
IFS officer Gaurav Garg shared insights on IIT placements via X (formerly Twitter), highlighting key points:
He questioned the common notion of IIT students landing crore-salary jobs, shedding light on the actual placement scenario. Garg noted that fresh IIT graduates typically receive salaries ranging from Rs 6 lakh to Rs 35 lakh annually.
He emphasised that it is specifically graduates from Computer Science (CSE) and Electronics and Communication Engineering (ECE) who often secure higher-paying positions.
Unsplash
Further, a significant portion of lucrative job offers, especially in coding domains and often exceeding crore amounts, come from multinational companies based in the US, Singapore, and other foreign locations, including tech giants like Google, Facebook, and X.
Additionally, he revealed that salary packages often incorporate additional components such as Employee Stock Ownership Plans (ESOPs), leave encashment, and staggered payments over 4-5 years. Consequently, the actual take-home salary may only amount to 40-50% of the quoted CTC (Cost to Company). Bold
Garg concluded by stating that the average salary package offered, excluding computer science, ranges from 10-12 lakh per annum, with core branches like mechanical and civil engineering typically receiving lower offers.
Check out his post here:
More often than not, we hear about students at #IITs getting #salary in Crores.
¡ª Gaurav Garg, IFS (@IFS_GauravGarg) March 30, 2024
What is the real situation of placement at #IIT ?
A thread ?
Poor placement record in IITs
Recent reports revealed that approximately 36% of IIT-Bombay students who signed up for placements are still without job offers. Out of 2000 students who registered for placements this year, 712 haven't secured jobs as the placement season concludes in May.
IIT Delhi
Dheeraj Singh, founder of the Global IIT Alumni Support Group, highlights that this issue isn't confined to IIT Bombay alone. He points out that IIT Kanpur has a 31% unplaced rate, with 500 students yet to secure jobs out of 1987, while IIT Delhi stands at a 47% unplaced rate, with 937 out of 1987 students still jobless.
Similarly, in IIT Madras, out of 2323 students enrolled for placements, only 1583 have landed jobs, leaving 740 students without placements, representing a 32% unplaced rate.
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