IIT alumni busts placement myths

Amidst the fervor and dreams of securing lucrative placements, the ground reality of employment opportunities at prestigious institutions like the Indian Institutes of Technology (IITs) often remains veiled. Recently, Indian Forest Service (IFS) officer Gaurav Garg shared crucial insights shedding light on the placement scenario in IITs.

IITians Salary Packages Vary Widely

Garg highlighted that fresh graduates from IITs typically receive salaries ranging from ₹6 lakh to ₹35 lakh, with Computer Science (CSE) and Electronics and Communication Engineering (ECE) graduates commanding higher packages.

— IFS_GauravGarg (@IFS_GauravGarg)

He further pointed out that a significant portion of high-paying job offers, often in the crore range, primarily come from companies based in the USA, Singapore, and other foreign countries. These offers, predominantly in coding domains, come from tech giants like Google, Facebook, and Twitter.

Complexity in Salary Structures

Garg also noted the complexity of salary packages, which may include Employee Stock Ownership Plans (ESOPs), leave encashment, and staggered payments spread over several years. He cautioned that the in-hand salary might sometimes amount to only 40-50% of the quoted Cost to Company (CTC).

— IFS_GauravGarg (@IFS_GauravGarg)

Divergent Averages

Contrary to the staggering packages seen in computer science, the average salary for other branches hovers around Rs 10-12 lakh per annum. Core branches like Mechanical and Civil Engineering often find themselves on the lower end of the placement spectrum.

— IFS_GauravGarg (@IFS_GauravGarg)

Less placements at IIT Bombay this year

This year, IIT Bombay faced a setback as it failed to secure placements for 36% of its students. Out of 2,209 students who enrolled for placements, only 1,485 managed to secure jobs through campus placements.

— IFS_GauravGarg (@IFS_GauravGarg)

An official from the IIT-Bombay placement cell lamented the challenges faced, citing the global economic downturn as a significant hindrance. “Securing commitments from companies was an uphill battle compared to previous years,” the official stated. “Many companies were reluctant to accept pre-decided salary packages, leading to extensive negotiations. It’s noteworthy that even students from the highly sought-after Computer Science and Engineering branch didn’t achieve 100% placement this time.”

— IFS_GauravGarg (@IFS_GauravGarg)

As students aspire to join the prestigious IITs with hopes of securing promising futures, it becomes imperative to acknowledge the nuanced realities of the placement landscape. Amidst the allure of high-paying offers, challenges persist, necessitating a balanced perspective on career aspirations and expectations.

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