The first time in years, median salary at IIT-B drops
What's the story
For the first time in six years, median salary offered during campus placements at the prestigious IIT-Bombay has dropped.
In 2016-17, it fell to Rs. 9.38L annually from Rs. 9.8L the previous year. Usually, it witnesses an annual rise.
The number of offers by IT companies also fell from 270 to 184.
A slump in IT and manufacturing sectors seems like the main reason.
Details
A comparison of last year with the previous session
During 2011-2016, median salary offered at IIT-B went up from Rs. 7.6L to Rs. 9.8L. This year, half the students received offers lower than Rs. 9.3L.
In 2015-16, the highest bracket was above Rs. 11L. 96 companies had offered higher amounts to 435 candidates.
In comparison, in 2016-17, 111 companies offered in the highest bracket, but only 403 candidates received such packages.
Data
Median salary is not all that's falling
Number of students getting placed also fell: in 2015-16, 1,143 of 1,628 students (70%) who registered for placements found jobs. Last year, 1,114 of 1,718 students (65%) were placed. However, IIT-B said it doesn't necessarily indicate a trend: many who register opt out of placements.
Reasons
There are several factors behind the trends
According to Kamal Karanth, HR executive, offers made by IT services industry have shrunk. "Many high-paying companies haven't made campus visits. They aren't making many offers either. The offers made by engineering firms too seem static."
Karanth adds abundant availability of non-IIT engineers is also working against the IITs.
However, an IIT-B student coordinator said students preferred better career prospects than higher salaries.