Though effects of economic downturn are on their way out in India, country’s best and brightest professionals are still battling against them, with placement offers at the prestigious Indian Institutes of Technology (IITs) taking a nosedive and even salary package down almost by 50 per cent as compared to last year.
The number of companies registered so far for final placements are down by about 45 per cent.
According to media reports citing sources, in IIT Bombay, average salary for pre-placement offers (PPOs) has come down from Rs 9 lakh per annum to Rs 5 lakh per annum, which is a drop of 55 per cent. While the drop in IIT Kharagpur in its average salary for PPSs is from Rs 9.5 lakh to Rs 4 lakh, which is a drop of 65 per cent.
As far as other IITs are concerned, they too have received pre-placement offers but no commitment of salaries.
Reports say that that the number of companies registering for final placements this year has also undergone a significant fall. IITs are even considering reducing the registration fees charged to these institutions.
However, experts say that one reason for a drop in registration could be because some large recruiters like Accenture, Wipro and Infosys may be visiting campus only by the end of 8th semester which will be around March 2010.