IITs likely to see less placement offers this year amid tech slump: Report

The global tech slowdown may impact the placements of Indian Institutes of Technology (IITs) students. But the impact will be lesser than other engineering colleges in the country. According to a report in the Economic Times (ET), IITs are anticipating a dip in the number of companies approaching them for campus placements. 

The 2021 batch, on the other hand, saw record placements. It was led by digitisation and the post-Covid revival in hiring. It saw an unprecedented number of Rs 1 crore-plus packages, international postings and other offers. 

"We are a little concerned, though the overall situation is definitely better than the Covid year. There is a small dip in the number of companies who have come so far," Sathyan Subbiah, a professor and placements adviser at IIT-Madras, told ET.

The final placements in the old IITs will start on December 1. 

However, the impact on IITs is likely to be less severe than in other engineering colleges as the companies will continue to hire good talent and "maintain a relationship with these premier tech colleges". 

"Some affected companies have not confirmed (participation) yet, but they are inclined to participate," Abhishek Kumar, head of the Centre for Career Development at IIT Guwahati, told ET. 

"Among companies that are coming, in terms of CTC (cost to company), both domestic and international so far, it is comparable to last year," said Kumar.

This year, despite layoffs, several IITs have seen a spurt in pre-placement offers. Students of IIT-Guwahati bagged 218 PPOs. In 2021-22 the institute received 179 offers in all. 

According to reports, the number of non-IT recruiters has also gone up.