IT firms dial down campus hiring, but GCCs are filling in
Tata Consultancy Services Ltd and HCL Technologies Ltd are expected to pay ₹3.5-4 lakh for engineering graduates with basic skill sets, while Wipro Ltd and Infosys Ltd will not be heading to campuses this year. Higher joining pay and no delays in starting with a company after accepting an offer have encouraged more students to accept offers from GCCs, placement executives said. “Last year (2023 batch), out of 947 companies that visited, more than 350 were GCCs.
This year (2024 batch), out of 440 companies that visited so far, more than 200 companies were GCCs," said Samuel Rajkumar V., director of the Vellore Institute of Technology’s (VIT) career development centre. Campus hiring is still underway, and many more GCCs are expected to turn up for talent. IT services firms and GCCs together hired 7,000 out of the 8,000 that graduated from the four campuses of VIT last year, Rajkumar said.
This year, consultancies and banks, including Deloitte, KPMG, EY, JPMorgan and Bank of America have emerged as the biggest recruiters, he added. At least 4,500 engineers graduate from Chandigarh University every year, and three-fourths of them start with an IT services firm or a GCC, a top executive said. “There has been an increase in the number of GCCs visiting the campus and the offers made by them," said Himani Sood, senior vice-president at Chandigarh University.
“But certainly, there has been an overall dip, which has caused a little anxiety among students. This decline is because of the IT services firms cutting back on hiring," Sood added. While campus placements for engineering colleges have started, some of the older IITs will begin their recruitment process in December, while the B-schools will start in February.
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