Large IT and global financial companies have always dominated the first week of IIT placements along with some of the very few large startups. While MNCs such as Google, Microsoft, Goldman Sachs, Morgan Stanley, American Express, Visa and Credit Suisse have grabbed some of the top talents in the first two days.
Hiring trend among top MBA colleges make a news every year because of the high packages and also because it is a reflection of preferences of India. Among India’s top MBA colleges, students are lining up to get placed in the startups and e-commerce sectors making it one of the hottest job segments in India right now.
Now talking about who dominates the IIT placements world, the number of startups hiring from these institutes has almost doubled over the last year. Most of the startups, apart from the large e-commerce firms, have been given slots to recruit students from Day 3 and Day 4. No doubt 31 Startup companies have been banned from conducting recruitment at IITs. This decision was taken at AIPC (All India Placement Committee) meeting on August 14, 2016.
Although blacklisting companies from placements is a regular activity at IITs, this is the first time such a large number has been stuck off. A majority of the startups are those who revoked offer letters of students from institutes in Mumbai, Kharagpur & Roorkee. But this year IITs have withdrawn the ban and has worked as a boon to IIT placements.
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Recent reports also suggest that overall campus recruitment in engineering colleges in India is also likely to gather momentum in the current financial year as startups across sectors are all set to hire techies for various roles that demand technical skills. Roles such as data analyst, artificial intelligence engineer, user experience engineers, mobile software developer and augmented reality engineer are high on demand and startups are ready to pick up potential candidates for these roles. Many startups are looking beyond IITs and hiring from reputed colleges.
This year many of IIT institutes conducted a STARTUP DAY which was slotted for 4th or 5th day of placement. However, the good thing about startups is that many of them consider students from Non-IT backgrounds. That’s not what Google or Microsoft would do. Sometimes startups even hire for non-core positions like business development.
One of the reports said that the four big Indian startups like SNAPDEAL, PAYTM, SHOPCLUES, FLIPKART are going to contribute around 90% of all the job postings. They are experiencing a boom in business and require more human capital in the near future. Below a picture has been shown how startups plan to work for placements.
One of the biggest thing that startups have done is to go behind some of the best talents in the world. In last few years high profile executives have returned to India from Silicon Valley wooed by Indian startups for their Valley know-how. In the months to come, these high profiles are expected to help lure the next level of talent to India. Rushil Goel from Boston Consulting to Ola Cabs, Peeyush Ranjan from Google to Flipkart as Senior Vice President of Engineers, Niket Desai from Motorola to Flipkart as Chief of Staff, Namita Gupta from Facebook to Zomato as Chief Project Officer.
According to Nasscom Report, while 82% Startups are ready to pay more than the market median and about 83% startups are using stock options for long-term incentives. Other startups such as Quikr & Culture Alley are also planning to reach campuses ahead of the others with new strategies in place to get the best catch. Usually, companies head to the campuses around October every year.
To sum up it all, ditching the trend of last few years, the placement season at IITs this year has turned out to be fruitful. In this article, I dare to break the myth created over a year that large companies dominate IIT placements. Startups have emerged themselves as more shiner & brighter in the field of placements.
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