Students in worry: Economic slowdown lesser pay and placement season!

Students in worry: Economic slowdown, lesser pay and placement season!

With placement season approaching students are gearing themselves up for a selection process but with a sense of insecurity among them. Students this year are worried that they may get low salary packages and companies may miss campus recruitment exercise this year. “Given the economic slowdown, some of us are worried that the packages offered may be lower than the previous years,” said a final year marketing student of NMIMS Universityʼs School of management. “The average pay package last year was around Rs 18 lakh per annum and the IT sector was the biggest recruiter. However, since there is an increasing trend of lay- offs in the IT industry, some of us are concerned that this year, fewer companies will turn up,” he said. One of the placement coordinators of the institute said: “There is certainly anxiety among students. Some sectors might see a slump this year but based on the summer placements this year, we are hopeful.”While MBA students are worried about few offers from the IT sectors, the students from engineering sector are worried that there may be slow recruitment exercise from the companies which are from planning and strategy sectors.“The demand in the IT sector has evolved from coders to expertise in more specific fields like artificial intelligence and data analytics. However, offers in strategic roles might be fewer this year,” said one of the placement coordinators at the Indian Institute of Technology, Bombay.“The companies that usually come for campus placements will continue to come this year too. We are still waiting to see how many new companies sign up for placements. Of course, students are worried but our summer placements have been good and many have converted into pre-placement offers,” he added.

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