Students on the IIT-Indore campus claim the average annual pay package for graduates in the maiden placement season has not exceeded Rs 8.38 lakh per annum so far and those taking up core engineering jobs are fetching a much lower package.
The students are disappointed not only because of the high-expectations associated with the IIT brand but also because of an unbalanced picture presented to aspiring IITians and their families.
The dull placement at the institute has increased worries of students who despite having good knowledge and the IIT tag are getting low pay packets. Though more companies are likely to visit the campus in the next few months and dole out more offers to the students, the latter have cold feet. Fearing a gloomy situation, a number of students have started preparing for alternatives like the management entrance examination, GRE for education abroad or just to hang on with the offer made to them to spruce their resume.
One of the students said, “The placement scenario is not good. Students are worried whether they will get a job or not. Getting a job through campus placements is important as we will be on our own, which is a difficult task. Our families have great expectations and hopes that may not come true.”
Another student said, “Even if I get a job with low pay-package, I will accept the offer for gaining work experience. Later, I will prepare for a management entrance examination or GRE. We were expecting good placements but situation seems worse as the institute is not established yet and running on a rented campus.”
It is perceived that every IITian gets multiple offers and is spoilt for choice. “Four years ago when I qualified in the JEE, my relatives and family members told me that I would soon be earning in dollars,” said a final year IIT-I student who has not yet been placed. Along with that is the cold fact that not many students from core engineering branches get international offers.
Amongst the current batch of 104 students who are ready to pass out this year, only 24 students have been placed and seven companies have offered jobs. According to the sources, the highest placement offer made so far is Rs 16 lakh per annum (LPA) while a number of students have received offers of Rs 6 LPA. The highest offers made are limited only to IT students. “Placements are good at the five IITs which were set up in 2008. The IITs established in 2009 are yet to pick up,” said one of the insiders.