Despite hiring slowdown, top IIT students receive offers worth over Rs 1 cr

The highest pre-placement offer (PPO) at IIT Guwahati stood at Rs 1.10 crore as five students received offers above Rs 1 crore

Indian Institutes of Technology (IIT)s have registered healthy placements, with some students being offered crore-pus packages, amid turbulent times in the job market, The Economic Times (ET) has reported. This has provided some relief to students as the slowdown in the technology space has unleashed one of the toughest placement seasons in recent times.

IIT students have received pre-placement offers (PPOs), which translate into job offers for students who accept them. These PPOs have been offered even before the onset of the final begin placements, which begin on December 1 at the old IITs, the ET report said. Old IITs include IIT Bombay, IIT Madras, IIT Kharagpur, IIT Kanpur, IIT Roorkee, IIT Guwahati, and IIT Delhi.

For on-campus placement teams, the PPOs mean that there would be fewer students to place in a year when several companies have decided to cut on fresh recruitment and are skipping placements. Notably, the acceptance rates for pre-placement offers have also gone up as students are being encouraged to accept offers, according to the report.

Big names like Microsoft, Cisco, Oracle, Texas Instruments, P&G, JPMC, ITC, Mastercard, American Express, Goldman Sachs, and KLA-Tencor were among the companies that offered pre-placements to IIT students.

The highest PPO at IIT Guwahati stood at Rs 1.10 crore as five students received offers above Rs 1 crore, the head of IIT Guwahati's Centre for Career Development, Lalit Mohan Pandey told The Economic Times. So far, 214 students at IIT-G have pre-placement offers, which is comparable to the 218 offers made last year.

IITs have registered a 10 per cent jump in the number of companies offering PPOs this year. This is primarily due to the fact that more companies have been invited to participate in the placements, Pandey added. IIT-BHU students bagged 302 PPOs, compared to 305 offers made last year. The highest offer made at the IIT-BHU stood at Rs 1.68 crore from N K Securities, the ET report said.