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Core Companies are First Choice for IIT Students
The leading IITs witnessed the domination of the ‘Make in India’ campaign in the maiden phase of the placement session taking place at the IITs in India.
This year round, the PM Mr Narendra Modi had the initiative and the efforts shown by the institutes, while providing early slots to the aspirants gave them the choice of picking core companies, as against fat pay packets. Close to 510 students from a total of 850 who went in for placement chose core companies as against the other organizations.
It has been for the first time this year that IIT Roorkee and IIT Mumbai went in for the core companies and provided the early slot of students. This is quite contrary to the usual way the things are done, i.e. early slots are chosen based on the size of the salary packages offered.
Professor NP Padhy, the IIT-Roorkee's placement-in-charge said,"The higher the salary offer, the better the slot, but this year we decided to change this". Parallel to 150 till December 2014, this time, it has got 225 core job offers.
Debut visits of companies like Toyo Engineering Corporation, Rolls-Royce India, Wrig Nanosystems, Mercedes-Benz Research and Development, and Bajaj AutoBSE -0.53 % was reported at IIT Kharagpur.
Escorts Group, Bajaj Auto, Mercedes-Benz, App-Dynamics, Godrej, and General Motors formed the prime recruiters who visited the Kanpur Campus for the first time. On the other hand, core companies visiting IIT-Bombay for the first time include KLA Tenco, Sony Energy Devices Corporation, and Triveni Turbines.
While professor-in-charge for training and placement at IIT-Delhi, Mr. Shashi Mathur said,"Students are surely bitten by the Make in India bug, as one can see the kind of offers they are accepting. Core companies are popular this placement season with almost 60% of them opting for core,"
Dialogues were on between the institute and the core companies regarding sponsoring the aspiring students and help them into higher studies. "Most core companies are ready to sponsor students for higher studies," Mathur added.
The choice of the jobs offered basically depends on the size carried by the pay packets. Salaries of up to INR20 lakh are offered by companies that visit on Day 1 by finance, consulting, e-commerce, and technology.
"The remuneration in the core sectors initially may seem less but evens out in the long run. We are seeing many students investing their initial time at core companies”, said Professor Sudhir Kumar Barai, who is the Head of Career Development Centre at IIT-Kharagpur.
"We have promoted core firms and tech core firms this year as we have upgraded their slots for recruitment. For instance, Tata SteelBSE -0.87 %, Airbus came on Day 1 and made 20 offers, and students have shown great response," said a person at the placement cell, IIT-Bombay.
Close to 400 offers were received by the students of the IIT Kharagpur, from core companies when placements were being offered in Phase 1, as compared to 300 successful placements that materialized a year before. Even as five students belonging to the department of Aerospace Engineering at IIT-Kharagpur gave the placement Day 1 a miss, Mr. Barai said, "All 5 of them got placed in core function of aerospace in Airbus, Honeywell and Rolls-Royce".
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