More firms but fewer Jobs offers at IITs this year

Despite more companies visited Indian Institutes of Technology (IIT) campuses in this year for the round 1 of the recruitment process, the number of jobs offers per company appears to be rarer than in the previous year. At Indian Institutes of Technology (IIT) Bombay, the number of students selected by influencing finance and consulting firms has reduced it has shrunk from 16 to 13 as in the case with Goldman Sachs or nine to four from consulting firm BCG.

Until students from Indian Institutes of Technology across have received more job opportunity from the analytics organisation. Firms such as JP Morgan and Goldman Sachs, known to pick candidates for core finance profiles, for instance, have huge openings in analytics sector. A student said that excluding a couple of organisation from the banking and finance sectors like Deutsche Bank and Flow Traders that have offered core finance jobs, many such as JP Morgan and Goldman Sachs has offered analytics roles.

The student said Many look forward to these companies for the finance functions, they have selected more students from the software and coding background. Banks such as Axis, ANZ, and CitiFinance, too, have chosen students for positions that do not require financial experience but programming skills and statistical modelling. Some students who have attended in banks and other financial firms or company were disappointed with the drop in offers.

The organisation cell has witnessed an almost 10% growth in big data analysts at IIT-Kharagpur. Decision-making is more data driven certain days. All decisions have to be backed by data. There is a fresh wave of recruitment in this sector. Firms that were earlier hiring standard business analysts are now looking for data analysts position every day, and some are even looking at students who are into coding for the tech drove roles. Banking firms in India are also now opening job profiles for data analysts and data science analysts. The institute has been endeavoring tailor-made courses in deep learning and machine learning for these profiles since the past two years. He said that JP Morgan, known for picking students for their investment banking arms, has taken students only for data roles.

Most of these firms had advertised for these profiles beforehand and, therefore, the students were prepared, said professor Manu Santhanam, placement in charge at IIT Madras. “Financial companies have announced for more software and analytical position jobs in a current year. Students had an idea, so they have applied subsequently,” added the professor. The number of offers touched 500 on Day Five but fell on Tuesday at IIT Roorkee, . Professor N P Padhy, placement in charge from IITRoorkee, said the number of firms has increased on campus, but the offers per company have dropped.

We had about two hundred businesses last year, and this year we have almost two hundred and thirty. That did not happen because we were expecting a growth in the number of offers too. Nevertheless, offers in the core sector nearly increased with each firm making four to five offers instead of last year’s one or two. But offers from finance, IT, and consultancy firms have dropped from 8 to 10 last year to five to six this year.

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