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Pre-placement offers at IIT-Madras increase

Pre-placement offers at IIT-Madras increase

CHENNAI: The impact of slowdown which is delaying the onboarding process of many engineering graduates in the state has not affected the pre-placement offers (PPOs) at IIT Madras, which recorded an increase of 44% in such offers as compared to previous year.

Students have so far received 333 PPOs compared to 231 offers in the previous year. This year, core stream, R and D (44%), analytics, consulting and finance (30%) have contributed a majority of PPOs while only 16% of offers were from the IT industry.

Among companies with the most PPOs, Qualcomm, Honeywell have topped with 19 offers each while Microsoft and Goldman Sachs have made 17 and 15 job offers respectively.

“We have been very strong in pre-placement offers as the summer internship helped our students to bag job offers. The companies see the internship as an opportunity to assess the students over a period of time and the increase in PPO is due to the performance of our students,” said Sathyan Subbiah, advisor (placement), IIT Madras.

As many as 504 students have received internship offers from 122 companies so far.

However, due to the slowdown less companies have registered for the placement season starting from December 1.

“The number of companies registered for the upcoming placement season is less compared to last year. However, there will not be a major dip in the number of offers,” Sathyan Subbiah said.

Last year 381 companies registered for the placement season and offered 1430 job offers which was the highest number of offers. However, IT majors have not registered for the recruitment so far due to the slowdown.

“IT majors have not lined up so far for recruitment. But still there are a couple of weeks to start the placement season. They may come at the last moment,” he added.

Last year the average salary received by students was 21lakh a year and the highest pay package was 1.9crore.

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