The placement season has brought in positive cheer for students at the IIT Kharagpur this year.
The number of companies invited sees a 50 per cent jump over last year.
Most offers are coming from regular recruiting firms and sectors led by consulting, analytics, IT and finance.
During its summer placements in 2006, six start-up companies had visited the IIM-A campus for the first time, of which six students had interned with them.
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Apart from IIM-L, where more than 110 organisations participated in the summer placements, there has been a general slowdown in the placement process of other institutes. A boom was expected in the reality and retail sectors but, given the ongoing slump, these sectors had little to contribute to uplift the offer market for graduating students. Experts believe the slowdown scenario is expected to continue up to next year. "Opportunities in 2010 will be good," they added.
Many domestic and foreign companies in banking and financial services, consulting and consumer goods are believed to have written to the Indian Institutes of Management, requesting them to waive participation and recruitment fees.
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This year, IIM Ahmedabad, the largest and most prestigious of the institutes, has seen a 50 per cent slowdown in placements on the coveted "day zero" (the first day), probably for the first time since the dotcom bust in 2000.
The IIIT-H, ranked among the top five in terms of placement according to an annual survey, has announced 100 per cent placements this year with annual pay package of each graduate ranging between Rs 5.2 lakh and Rs 9.5 lakh.
Nearly 150 companies visited the campus this year.
Leading B-schools are not taking any chances and are inviting more companies than usual.
Core sectors like manufacturing were the second largest recruiters at the newer IITs.
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
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Prominent recruiters were Flipkart, Urban Ladder, AskmeBazaar etc
Offers, high ones, are coming in before placements officially start.
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"One IIT that is not affected (of this global crisis) is IIT Guwahati. The institute has had a policy of not allowing financial companies to make campus recruitment for many years now," IIT-G director Prof Gautam Barua told PTI. "The logic is that this is an institute producing engineers and scientists, and it will provide support for employment to its students only in organisations that can usefully utilise their expertise," Barua said.
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To get the best talent, they put stiff riders for recruitment.
'The noise that we are hearing is because the five big IT players are not hiring significantly.'
Considerations of professional fulfilment and a desire to pursue higher studies have trumped offers of eight-figure salaries during placements at IIT Kanpur as four students chose to turn down jobs which would have paid them more than Rs 1 crore (Rs 10 million) yearly.
Sixty such offers have been made on Day 1 of the placement drive.
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A total of 211 companies issued 763 offers to the students in the first phase which is the highest number of placement among any IITs across the country in this year.
The withdrawal of offer letters is an indication that the company might have overestimated its future business after giving offer letters.
A glossy presentation of a confounding narrative, notes Moumita Bhattacharjee.