A lot of students aspire to join prestigious institutions like the Indian Institutes of Technology (IITs) with the hope of securing good placements. However, the ground reality of employment opportunities at such institutions often remains veiled. Recently, Indian Forest Service (IFS) officer Gaurav Garg took to X (formerly Twitter) to share four significant points about placements in IITs. "More often than not, we hear about students at #IITs getting #salary in Crores. What is the real situation of placement at #IIT?" Mr Garg wrote.
In his post, the IFS officer highlighted the wide spectrum of salary packages received by fresh graduates from IITs, ranging from Rs 6 lakh to Rs 35 lakh. Notably, graduates from Computer Science (CSE) and Electronics and Communication Engineering (ECE) tend to command higher packages.
1. Fresh #IITians get a salary of around Rs 6 lakh to Rs 35 lakh . With higher packages offered to CSE, ECE graduates invariably.
— Gaurav Garg, IFS (@IFS_GauravGarg) March 30, 2024
Mr Garg also pointed out that a significant portion of high-paying job offers, often in the crore range, primarily come from companies based in the US, Singapore and other foreign countries. These offers, predominantly in coding domains, come from tech giants like Google, Facebook and X.
Then, Mr Gard said, "The salary packages include the ESOPs (Employee Stock Ownership Plans), leave encashment, staggered payments in 4-5 years etc. Sometimes, the in-hand salary is only 40-50% of #CTC (Cost to Company) quoted".
In the end, he added, "Average salary package offered (except computer science) is 10-12 Lacs per annum with core branches like mechanical, civil engineering getting placed on the lower side".
Also Read | "5 Crore Is The New 1 Crore": X User's Post On Finding Decent Flats In Metros Sparks Discussion
Meanwhile, in response to reports showing that 36% of graduates at IIT Bombay are yet to secure jobs this placement season, the institute released data from an exit survey conducted among graduating students in the academic year 2022-23. According to the survey result shared by the institute, only 6.1% of graduates are looking for jobs, while the majority of students, accounting for 57.1%, secured jobs through IIT Bombay's placement process. Additionally, 12.2% of students opted to pursue higher degrees, while 8.3% chose careers in public service.
Furthermore, a breakdown of employment preferences among students reveals that 10.9% secured jobs outside of IIT Bombay, with 1.6% venturing into startup ventures. A small percentage, 4.3%, remain undecided about their career paths.
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