The Aryavarth Express
Agency(Bombay): In a departure from the norm of near-perfect job placement rates at premier institutes, IIT Bombay’s 2024 graduating batch is navigating through a challenging employment landscape. Approximately 36% of the students, equating to 712 out of 2000 applicants, are still in search of job opportunities as the placement season nears its end in May.
This situation is notable against the backdrop of the consistently high placement success stories typically associated with Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs). Dheeraj Singh, an IIT Bombay alumnus and founder of the Global IIT Alumni Support Group, brought this issue to light, emphasizing the unusual nature of this year’s job market for the institute’s graduates.
An official from the IIT Bombay placement cell attributed the difficulties in securing campus placements to the current global economic conditions, which have made it challenging to attract companies to the campus compared to previous years. Negotiations over salary packages have become more complex, with many firms initially resistant to the institute’s pre-decided compensation figures.
Even students from the typically high-demand computer science and engineering branch are facing unprecedented placement challenges, with not all registered students securing jobs, a scenario unheard of in recent years.
The majority of the 380 companies participating in this year’s placement drive are based in India, a shift from the norm where international firms usually dominate the recruitment scene. Initial reports of students receiving job offers exceeding Rs 1 crore were later adjusted, showing a significant discrepancy in the anticipated high-value job offers.
This unexpected twist in the placement scenario at IIT Bombay has sparked widespread discussions and concerns over the implications of the global economic downturn on the employment prospects of graduates from India’s leading technical institutes.