Declining value of rupee has a negative impact on the placements at IIT –Bombay!

The campus placements at IIT- Bombay seem to have been adversely affected by the decline in the value of rupee.

The devaluation seems to have proved unfortunate for the bunch of students who grab the highest pay packages. The highest offer for an international posting was down to $ 1, 30000 from the last year’s $1, 50000. The package which amounts to Rs 80 lakh in Indian rupees was offered by Samsung US/ Korea. This amount is the same as that offered in the last year but was initially for the Powai campus. The highest package for domestic placement this year, amounting to Rs 40-50 lakh per annum has been offered by the Advisory firm Blackstone.

The highest package though might have experienced a dip, but the number of hiring has actually increased. The first chapter of placement saw around 32 firms as compared to 35 in last year. The fact that the top-notch recruiters of the last year like Facebook and Twitter were missing this year did not have much effect on the placements as they usually hire just 2-3 students every year. While the interviews continue till 2 am on the first two days, the start-ups can be seen on day 3 or 4. A majority of students took more than 3 interviews on Sunday and a total of 230 firms were cataloged in the first phase of the interview.
Some of the recruiters prefer subjecting students to multiple rounds of interviews before finalizing them. As quoted by a student, “I sat for six interviews in all with three firms. Finally, after getting placed in McKinsey, I did not appear for the rest of the interviews. Some of the students have appeared for 10-12 interviews”.

This post was written by Aditya Singhal, co-founder of askIITians.