Mumbai: India's best and brightest are still battling the effects of economic slowdown with placement offers at the prestigious Indian Institutes of Technology (IITs) taking a nosedive. Even the salary packages are down by almost 50 per cent as compared to last year.
The number of companies registered so far for final placements are down by about 45 per cent.
Sources say that in IIT Bombay, average salary for pre-placement offers (PPOs) has dropped from Rs 9 lakh per annum to Rs 5 lakh per annum, which is a drop of 55 per cent.
IIT Kharagpur has seen its average salary for PPOs drop from Rs 9.5 lakh to Rs 4 lakh, which is a drop of 65 per cent.
Other IITs have received also received pre-placement offers but no commitment of salaries.
Sources say that the number of companies registering for final placements this year has also seen a significant fall. IITs are even considering reducing the registration fees charged to these institutions.
Experts say one reason for a fall in registrations could be the fact that some large recruiters like Accenture, Wipro and Infosys may be visiting campus only by the end of 8th semester which will be around March, 2010.
CNBC-TV18 learns that 12 companies have registered with IIT Bombay so far compared to 45 registered by October last year.
IIT Kharagpur has registered 10 compared to 38 and IIT Kanpur has seen just 12 companies registered so far compared to 37 in October last year.
Comments
0 comment