Electrical, Mechanical and Civil engineering graduates of the Indian Institute of Technologies (IITs) are increasingly giving preference to new-age jobs in booming domains such as consultancy, finance and software.
The trend has been apparent during this year’s campus placements as well–and that despite all efforts to promote core engineering jobs in the manufacturing sector.
By the end of the third day of this year’s placement session, software giant Oracle’s offer of INR 2.03 crore package to an IIT-BHU student stands as a testimony to the fact that even companies are looking to fresh IIT graduates for their so-called “new age” profiles.
Also, by the end of the third day, only 25 per cent of IIT-Bombay students were offered placement in an engineering and technology firms. According to some statistics, only 116 of the total 430 offers made to IIT-Bombay graduates were for core engineering profiles. The rest of the chart was dominated by IT/software (112), consulting (96), finance (75), research and development (55) and analytics (54).
“Core engineering firms will take time to pick up in campuses across IITs. Even as the emphasis is on the core firms, these companies usually take a lot of time in the decision-making process. On the contrary, with the government opening up investment options, the start-ups are the ones that are benefitting,” said Mohak Mehta, a placement coordinator at IIT-Bombay. “
Experts believe that things could have, in fact, worsened for the manufacturing sector in 2014-15 compared to last year’s placement when one-third of the total 1,067 students got offers from engineering and technology firms. This year, the maximum number of offers were made by e-commerce firms and start ups.
In a related development, two students from IIT-Kanpur, one male and one female, turned down INR 1 crore offer by a multinational company citing that they were not prepared to compromise on professional fulfillment.