IITs caution recruiters not to delay joining dates of students
sobering placement season this year. For thousands of to-be engineers in the class of 2024, the number of hirings is expected to taper, although salaries may not drop by much. “IIT-Bombay and IIT-Delhi have informed the companies with an explicit request not to defer joining dates as was done in 2023," said a partner at a consulting company that has recruited 8 -11 students from the IITs in the ongoing campus placements.
While the placements season will last a few months, students will graduate from the campuses by July-August. “We had to onboard students hired from the batch of 2023 in October-November. The students were concerned but we honoured all our offers," said a recruiter from a multinational firm, adding that the company has informed the IITs that it cannot confirm on the joining dates.
Mostly, it had been companies with large exposure to the US economy that had delayed joining dates for the previous graduating class, said students from placement cells across IITs, requesting anonymity. Consulting firms had delayed joining dates by a couple of months owing to the impact of a sluggish economy on their hiring plans. Among finance and consulting majors, Barclays, Goldman Sachs, McKinsey & Co, and Arthur D.
Little had offered jobs to IIT graduates with salaries ranging from Rs17 lakh to Rs35 lakh. The placements exercise at the IITs for the current graduating class began on 1 December. On the initial day, trading firms offered jobs with salaries ranging from Rs80 lakh to Rs2 crore, according to placement executives across IITs at Delhi, Mumbai, Chennai, Kharagpur, Roorkee, Guwahati and Kanpur.
Read more on livemint.com
