Rush of IIT Offers Hints at Good Year for Grads – Devina Sengupta & Sreeradha D Basu Mumbai:

At IIT Bombay, job announcement forms given by cos are double that of last year

The first flush of pre-placement offers (PPOs) now being handed out at India’s leading IITs are pointing to a coming bumper placement season this year.
At IIT Bombay , job announcement forms submitted by companies are already double of what was seen at the same time last year. The number of PPOs at other IITs is also rising, offering yet another piece of evidence of a resurgent job market.
Companies make pre-placement offers based on performance of candidates who have interned with them. Many companies like Goldman Sachs and RIL now use this route more, as it helps them gauge candidates better, over longer periods of time and in real work situations.
Such internships at IITs end in August and the first PPOs are trickling in now.The flow will gather momentum by mid -SeptemberOctober and will continue till December 1, when the campus placement season begins.
Facebook started its campus hiring this year by offering international posts to students of IIT Bombay and IIT Kharagpur. Although the social networking company has not disclosed salary details to the colleges, it is expected to offer at least $120,000, which was last year’s package.
Microsoft has also rolled out PPOs at IITs, after offering ` . 79.5 lakh per annum pay packets for Redmond-based posts at non-IIT campuses recently. Deloitte is offering `. 21.3 lakh for domestic profiles.
Others who have offered PPOs, include Schlumberger, Directi, Adobe, Reliance, Shell Technology , Cadbury , Qualcomm, Deutsche Bank, Credit Suisse, Mitsubishi Heavy Industries, HUL, ITC, Samsung, VMWare, Samsung Research, LinkedIn, VizExperts, Works Application, Goldman Sachs (Tech) Intuit, Futures First and P&G. The companies can come again for campus placements to hire more.
Companies also use PPOs to get an early advantage in the war for talent at the placement season in campuses.
“This year looks very promising. The political & economic ecosystem looks very supportive,“ said Mohak Mehta, placement manager at IIT Bombay . Mehta said recruiters from Japan, Singapore, SouthEast Asia & Middle-East have shown special interest this year. The college has received 30 PPOs and is not expected to take long to cross last year’s total of 90 PPOs.
Monday’s count of PPOs at IIT-Kharagpur shows 51 offers, said Sudhir kumar Barai, professor-in-charge, training and placement of the institute. Expecting a return of big hiring, IIT Madras and IIT Roorkee have made changes in their placement methods to fit in more companies.IIT Roorkee will introduce parallel slot system where three slots of six companies each will hold interviews on the first day .So, 18 companies can pick their employees simultaneously compared with mere 3-4 recruiters per day hiring last year.
“This reduces hassles of managing company preferences for initial slots and more hires can take place. We did a dry run of parallel slot system during internship placements this year and it was a success,“ said NP Padhy , professor-in-charge, Training and Placement IIT Roorkee.
IIT Madras will start their placements in `graveyard shifts’ from 12 at night to 7 am on December 1. This will be done to navigate international time zones and have international companies recruit via calls and Skype.

Source : The Economics Times
Date : 21/8/2014

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