IITs see strong recruiter rush on Day 1 as top firms roll out big offers

Day 1 of IIT placements saw a surge of top recruiters, with NVIDIA, Amazon, Zomato, Google and Flipkart among those offering high-value roles, as more students opted for final placements over PPOs

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Indian Institutes of Technology (IITs) witnessed a company rush on the first day of their placement drive, as several branches pushing for a diversification of job profiles accessed a wide range of high-paying opportunities.

 

How did IIT Roorkee perform in the first slot?

 

As of 1 pm, IIT Roorkee secured eight international offers and 428 domestic offers in the 1.1 slot (first slot of Day 1), with more offers secured during the day to be enumerated later.

 

Notable recruiters in this phase included Amazon, American Express, chipmaker NVIDIA, Qualcomm, hedge fund company DE Shaw, AI data platform Databricks, Eternal (Zomato), Flipkart and Google among others.

 

Apart from tech companies, the institutes are also recording offers from proprietary and algorithmic trading firms such as Da Vinci Derivatives, NK Securities Research, Rubrik and investment firm Squarepoint Capital.

 

What did IIT Roorkee say about the placement ecosystem?

 

Commenting on this, IIT Roorkee said it had collaborated strategically with an extensive and diverse pool of leading organisations across multiple sectors, ensuring a comprehensive and well-rounded placement ecosystem.

 

“With a special emphasis on artificial intelligence, data analytics, semiconductor technology, sustainability and core engineering domains, the institute continues to align its efforts with the evolving industry landscape,” it added.

 

Are other IITs experiencing a similar trend?

 

A similar trend has been seen in other legacy IITs, which include Delhi, Mumbai, Madras, Kanpur, Kharagpur and Varanasi (IIT-BHU).

 

“More companies, including core and startups, are participating this year. All of them have expressed interest in hiring a significant number of students,” sources in IIT Madras said without sharing any numbers.

 

Other legacy IITs did not respond to mail requests from Business Standard till the time of going to print. However, people in the know indicated that salary packages offered were in the range of Rs 90 lakh to Rs 3 crore.

 

Why are more students opting for final placements over PPOs?

 

More students participated in the process, with several declining pre-placement offers (PPOs) despite a 10-20 per cent increase in such offers this year.

 

IIT-BHU, for example, announced that a total of 1,701 students, including 1,100 BTech students, 550 MTech and IDD students, and 40 PhD students, will participate in this year’s placement process.

 

This comes despite the institute receiving 280 PPOs prior to the start of the process.

 

“More students wanted to sit in the final placement drive, as several saw a better chance of bagging jobs with a higher salary bracket compared to stagnant salary profiles through PPOs,” a person in the know said.