Hiring engineering graduates from campuses has been gradually falling every year. Nasscom’s president Som Mittal said that hiring is going to reduce by about 22% to 1.8 lakh this year, thus bringing worries for candidates appearing campus interviews this year and forthcoming years. Unlike a decade back when half of the passouts were hired, the global uncertainty, automation and non-linear growth has changed the situation.
Every third to fifth student will face the threat of employment and many others will have to take jobs much below their technical qualifications. The situation is very similar in hundreds of non-IIT engineering colleges where they are inviting new industries and companies and are also settling for salaries much below the minimum benchmarks.
Guru Venkatesh, V-P (placement and corporate relations) of Dayanand Sagar institutions said that last year they had an 85% placement record but this time it would be best even if 70% of it is achieved. Until 2012, they were choosy about companies visiting their campus, but this time they will allow all of them. Even in such poor economic scenario, institute like IIT have no worries. Only 15% students from IIT’s join IT sector and salaries of about 1200 odd students from all streams are expected to go high. The average salary package for students in IIT has gone up from 8.9 lakh per annum in 2012 to 11.4 lakh per annum in 2013.
An official of VIT University, Chennai said that last year there were few companies offering 3 lakh package but this time around the university is open to more companies who are offering packages of around 3 lakh. The hiring has just started this year, he said. Campus interviews normally start in the month of July every year and continue till next 8 months. IT sector that hire more than 70% of students come in September are hoped to be muting their hirings this year. According to Nasscom, only 1,80,000 students will be hired this year as compared to 2,30,000 in 2012.
RV College of engineering, Bangalore is promoting entrepreneurship for its students. It is looking to acquire Rs 25 crore for its entire entrepreneurship cell. The college wants students to apply for more patents and research projects and being hired by core engineering companies instead of being dependent on the IT firms. Delhi Technological University has added 15% recruiters for its CS and IT students keeping in mind hiring from companies may take a hit this year. Bengal Engineering and Science University (BESU) has around 500 students to be placed this year and an official from the university said that earlier if 30 companies visited the campus, 5-6 would absorb all the students and the rest were sent back while last year they felt the heat and are planning to accommodate even more companies this year.