Campus gloom at IITs on hiring lull, stagnant salaries
MUMBAI : The Indian Institutes of Technology (IITs) are bracing for a sobering placement season. For the thousands of to-be engineers in the class of 2024, the number of hirings is likely to taper, even while salaries may not fall much. “This year, we added more companies, but there is a 20% dip among the regular recruiters since many say they had over-hired last year.
The compensation has not changed much, but the number of positions available per role has reduced," said a placement team member of one of the top three IITs on condition of anonymity. According to placement team members in IITs Delhi, Kanpur, Bombay and Roorkee, high-frequency trading (HFT) and quant companies Quadeye, Graviton Research Capital, Maverick Derivatives and Da Vinci are ready to roll out crore-plus offers (including joining bonus and variable payouts). They say that pre-placement offers (PPOs), which are rolled out to selected students who have interned earlier, will see higher salaries, but the number of PPOs overall being offered by firms would be lower.
Last year, trading firm Jane Street broke records with a PPO of around ₹4.3 crore at IIT-Delhi, Kanpur and Bombay. But from the first set of confirmations this year, it appears the number of HFT firms, and their offers, will be lower than last year. HFT and quant companies use maths and statistics to predict market movements.
Such companies, which are mostly based in India, the US, Singapore, and Amsterdam, hire candidates who can analyze markets using mathematical and statistical models. HFTs have been garnering attention at a time when global markets are going through swift crests and troughs. The demand for algorithm engineers, data scientists, associate product managers and data
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