The job market seems less encouraging than before. The value of education from reputed institutes in India and abroad appears to be diminishing compared to previous years.
A leading media source reported that the lowest salary offered to IIT Bombay students was Rs 4 lakh per annum, and the students accepted the offer considering the current job market situation.
You might ask, what was the highest offer? It was on the higher side, at Rs 1 crore per annum.
The silver lining in India is that some job recruitments are still happening, and regardless of the salary, offers are coming in for many, if not for all.
However, in countries like the USA, UK, Australia, and Canada, the situation is grim, with no jobs and even layoffs.
According to the source, "Actually, not all graduates from IIT Bombay received placements. Many multinational and Indian companies came for placement interviews, but the students chose carefully. Some even secured jobs with a crore-rupee package. A total of 364 companies offered 1,650 jobs, and 22 students received packages worth crores of rupees.
No matter what these packages are, the numbers are lower than before. Out of 2,414 students, 1,979 participated in campus placements, and 1,475 received offer letters. Seventy-eight students secured jobs abroad. The remaining are still jobless. This is the story of IIT Bombay placements."
Many other engineering college students in India are now worried that if IIT students themselves have to accept offers of Rs 4 lakh per annum, what kind of offers can they expect?
The worst plight of all is for the students studying in the USA, spending lakhs of rupees. Many of them are returning home without finding jobs. The situation is expected to worsen in the coming years, sources say.
