Average Annual Pay of IIT Graduate Down by 6% in 2009: Survey

In what could be termed surprising, the average annual take home pay of an Indian Institute of Technology (IIT) graduate has come down by 5 per cent while that of a National Institute of Technology (NIT) graduate increased by 6 per cent, reported PTI.

According to the 5th IDC-Dataquest T-School 2009 Survey of 111 engineering colleges across the country, the average annual salaries of IIT graduates has dropped by 5% to Rs 5.88 lakh in 2009, said report.

However, the survey attributes the drop in the average annual salary of IIT graduates to global recession, said report.

Interestingly, the average salary of an NIT graduate has gone up by 6% to Rs 4.36 lakh, report said.

“Another reason for the drop in the annual salary of IIT graduates is that many bright students of IITs opted for higher studies instead of entering the job market,” the survey pointed out.

The survey said that an engineering graduate from Netaji Subhas Institute of Technology (NSIT) New Delhi received the highest salary of Rs 45 lakh from Schlumberger, said report.

Due to the global slowdown, the average annual salary of engineering graduates countrywide stagnated at Rs 3.5 lakh.

But the average annual salary of engineering graduates in BPO/ IT industry was a shade higher at Rs 3.6 lakh.

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