Each year, a multitude of students across India diligently prepare for the challenging IIT-JEE examination during their high school years, driven by the pursuit of quality education and promising career prospects. However, recent developments have cast a shadow of concern over the employment landscape in the country. Shockingly, data reveals that a substantial 36% of the latest cohort of IIT Bombay graduates failed to secure placements, sparking apprehensions about the prevalence of unemployment among the nation’s youth. Within the 2024 batch, comprising approximately 2,000 students, a notable 712 individuals remain without job offers, highlighting the formidable hurdles faced by aspiring professionals in transitioning from academia to the workforce.
This year witnessed a staggering 35.8% of students from the latest batch of IIT Bombay remaining without placement, marking a concerning increase of 2.8 percentage points compared to the preceding session.
During the previous academic year in 2023, IIT Bombay accommodated a total of 2,209 students, of whom 1,485 managed to secure employment through campus placements. Despite these efforts, a significant portion—amounting to 32.8% of the student body—remained without job placements, indicating a persistent challenge in ensuring full employment opportunities.
This year, the scenario seems even more daunting as the institute grapples with a staggering 36% of its students failing to secure placements. This concerning statistic has sparked discussions and debates across various platforms, including social media outlets like X, as stakeholders express their concerns and opinions on the matter.
According to an official from the placement cell of IIT-Bombay, inviting companies to the campus this year posed a considerable challenge compared to the previous year, primarily due to the global economic downturn. The official revealed that many companies hesitated to accept the salary packages pre-decided by the institute, leading to extensive negotiations before they finally agreed to participate in the placement process.
Interestingly, for the first time, registered students from the computer science and engineering branch, which typically see high demand, did not achieve 100% placement among those registered. This development underscores the severity of the employment situation and highlights the impact of broader economic trends on campus recruitment activities.
Among the 380 companies actively scouting for new talent, a notable portion originated from the domestic market, signifying a shift from the usual dominance of international firms in campus placements.
Addressing this change, a professor from the institute emphasized the institution’s focus on securing high-value packages to maintain its reputation for offering competitive average salary packages. However, there seems to be less emphasis on considering the individual salary expectations of the average student. Consequently, this has led to a scenario where, despite receiving offer letters, many students ultimately choose to decline them and pursue alternative employment opportunities.
Sources: hindustantimes.com