The Hindu : Tamil Nadu / Chennai News : Placement trend positive at IIT-M this year

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Friday, Dec 04, 2009
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Tamil Nadu - Chennai

Placement trend positive at IIT-M this year

Priscilla Jebaraj

CHENNAI: Placement season has officially begun at the Indian Institute of Technology, Madras, with a total of 63 students being placed in the first two days. The IIT-M placement team is confident that the economic recovery will make this year’s placements easier than last year.

“We’re seeing an increase in the range of salaries, the number of companies and the number of offers per company, so it’s an overall positive trend on all parameters,” says Karthik Medarmetla, the Academic Affairs secretary overseeing the placement process this year.

For example, the highest salary on offer this year was Rs.28 lakh per annum, in comparison to Rs.22 lakh last year. In fact, ten students have received offers with pay packages exceeding Rs.25 lakh per annum, from three companies – Goldman Sachs, Morgan Stanley and Tower Research Capital. Despite the battering that Wall Street took last year, the biggest names on Day One were still the big international financial institutions, including Boston Consulting Group, which is recruiting from IIT-M for the first time, McKinsey and Deutsche Bank. This year, the lowest salary offered so far was Rs.10 lakh per annum.

For the majority of the 1050 graduating students this year, however, what will be even more cheering than the high salaries of the toppers is the fact that the total number of companies taking part in the placement process this year has also increased. So far, 170 companies have confirmed their participation, in comparison to 120 at this stage last year.

This includes big names from a variety of fields including IBM, Microsoft, Shell Technology and Hindustan Unilever so far.

The first stint of placements will continue till December 12, while a second phase will be held from December 16 to 25. Companies that could not make it in the December slots are expected to arrive in January.

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