IT, most coveted for engg grads of '08

The IT industry has once again been voted as the most coveted future employment sector by engineering students, with Google and Microsoft topping the list of employers of choice, according to the fifth round of Campus Track T-schools survey conducted by ACNielsen ORG-Marg. Consultancy firm McKinsey & Co., was ranked the third most sought-after employer brand among students.

Conducted across the top engineering schools in India, the study profiled the talent pool in 130 institutes, a marked increase from the 73 surveyed in 2006. The top five industries appealing to most students were IT, Management Consultancy, Automobile, Investment Banking and Chemicals. IT companies and management consultancies were preferred particularly by students from premier institutes.

"IT has been the favourite among engineering graduates for the past few years, because of the employment package and international exposure they offer, but what is very interesting to note this year is that management consultancies and investment banking firms - the "Big Daddies" in the management school campuses - are emerging as the next avenues students are keen to explore," said Prasenjit Das, Associate Director, Client Service, The Nielsen Company.

Shell was the only core manufacturing employer making it into the survey's Top 5. Investment banks Goldman Sachs and Lehman Brothers made an entry for the first time in the Top 10 list of most coveted employers (6th and 7th position respectively), reflecting the growing interest in investment banking among engineering students. Mobile phone manufacturer Nokia has made a marked improvement in its ranking this year, spring-boarding 46 places from 61st last year, to among the top 15 this year.

Looking ahead - attrition rates on the rise Although there is still a year to go before embarking on their career, 56 per cent of the 2008 graduates plan to leave their first job in three years or under in search of better career opportunities, advance studies, or entrepreneurship. Among those who want to pursue higher studies, about 71 percent intend to do an MBA, with the trend more obvious among students of premier engineering colleges like IITs. "The opportunities are there for the right talent, and the younger Generation of today likes to live in a fast world seeking challenges every moment. This Generation is impatient and wants to achieve things quickly," observed Das.

"They are eager to explore opportunities by changing jobs and hence presenting greater challenge for employers in terms of talent development and retention."

Zeroing in on "The Company" Technical soundness, salary, and opportunities to work in a growing sector are the top three factors while choosing a company. Flexibility in terms of work profile is also considered a major aspect by about 70 percent of respondents when accepting a job. The study also indicated that growth prospects, job content and market standing of the company continue to be important parameters for selection. The remuneration package is experiencing an increase by a few lakhs every year. This year the remuneration expected from 'Dream Company' is slightly above Rs.9 lakhs, a 50 per cent rise compared to last year according to Das.