Wednesday, February 10, 2010

IT firms favorite in campus placements

Information Technology (IT) companies have again emerged a hot favourite among engineering and B-school graduates and firms are not far behind in wooing them with higher salary packages. For example, IBM, which paid Rs. 700,000-800,000 a year to IIT graduates last year, doubled it to Rs. 1400,000-1500,000 this year, according to a student selected under the tech giant's 'Blue Scholar' program. Tech bellwether Infosys Technologies, which has given 450 offers to B-schools, is offering a package of Rs. 1100,000 per annum to IIM graduates while it has hiked compensation for incoming engineering students to Rs. 325,000 per annum as against Rs, 300,000 last year. Infosys is planning to make 15,000 offers to engineering students for FY11.

Not just IBM or Infosys, but other tech majors like Microsoft, IBM, Accenture, HP, SAP, Amazon, Yahoo and Cisco are paying IIT graduates Rs. 800,000-1200,000 per annum, a 10-15 % hike from last year's levels. A cross-section of students and officials from various colleges echoed the sentiment saying they are seeing an uptick in the number of IT firms visiting their campusesa turnaround from what happened in 2009. IIT Delhi's Aditya Gupta says IT firms are big recruiters but there is increasing preference for firms like Microsoft, Google and Yahoo. "Our conversion rate students who actually join has been 93% at top B-schools such as IIMs. Earlier, it used to be 63-70 %", said Infosys senior VP in HR Nandita Gurjar.

At BMS College of Engineering, Bangalore, 550 of the 900 students who are passing out this year have already been placed and offered salaries ranging between Rs. 400,000 and Rs. 750,000 per annum. The Delhi College of Engineering (DCE) has finished more than half of the placement for its batch of 600 students. "TCS has already recruited 40 followed by IBM, Deloitte and Airtel," said Itsit Dang (21), an engineering student. Prof. NS Narahari, Director (Placement ) in RV College of Engineering, said: "There has been a rise in salary packages and number of offers made by the companies." The college saw firms like Cognizant, HP, Informatica, Infosys, Accenture, TCS visiting their campus.

The IT sector's return to gains is making more students opting for a career in this sector. Symbiosis Institute of Business Management (SIBM)'s Bangalore Dean Pankaj Gupta said that earlier IT companies were not favourite on B-school campuses but the trend is changing and students prefer to join IT firms. "For each IT job, we are getting lot of application from students." HS Jagadeesh, Placement Officer, BMS, said, "IT is favourite among students but firms are now very cautious and want students to have long-term career with them." HKBK Engineering College's administrator Abdul Hameed SA says things are far better compared to last year and lot of smaller companies are also coming to the campus to rope in the best talent. HKBK expects to complete placement for its 2010 batch of 380 students by June and 2009 batch of 300 students in the same time period.

However, it has not been just the technology companies which have paying higher salaries. P&G, HUL, Bain, Boston Consulting Group have been offering competitive salary packages to IIT graduates in the range of Rs. 900,000-1300,000. Consulting firms and banks such as Parthenon and Goldman Sachs are offering a salary package of Rs. 1800,000-2500,000 per annum. Financial services firm Tower Research has offered a salary package of Rs. 2500,000 plus Rs. 800,000 bonus at IIT-Delhi to handle its IT and alogrithm work.

Source: The Economic Times, February 4, 2010

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