Leading business schools are witnessing high demand from non-IT companies which might work well for engineering college placements
India’s placement dashboard is witnessing a unique shift that could augur well for both the business schools as well as engineering colleges, two avenues that attract the most companies during the season. Reports said non-IT companies were making a beeline for leading business schools in the country.
A report published in ET says B-schools are witnessing offers from companies involved in consulting, BFSI, conglomerates and FMCG companies. This means that the demand for fresh engineering graduates directly off the campus could witness a decline or alternatively this could result in better offers for engineers with the right skill sets from these colleges.
Non-IT hiring is on the rise now
This could also present a view of things to come as major recruiters had been reticent of tech hiring in the wake of the fears around global recession, especially in North America and Europe. Many of the B-schools in the country saw robust offers coming their way with management graduates being picked up by the consulting, BFSI and FMCG industries.
Average size of pay packages also grew across most of these management institutes during the early stages of the placement drives with the likes of MDI, Gurugram and some of the tier-2 IIMs claiming that recruiters were hiring in substantial numbers this year as well. However, the numbers weren’t as large as the immediate post-pandemic period.
Higher salaries on an average
Some of the placement officers that we reached out to confirmed that average salaries were up by between 20% to 30% while top candidates in this round got massive hikes, some ranging upwards of 250 to 300% compared to the year before. In fact, the colleges saw more invitations being set out to recruiters this year as a means to weather any dip in overall placements.
However, it appears as if there was no reason for these institutions to worry as the pre-placement offers too went up significantly compared to last year. One of the top-tier management institutes in the eastern part of the country saw more than 150 companies registering for placements as compared to just about 50 a year ago.
Sources at a business school in Gurugram said average salaries ranged at about Rs.25 lakh as there was a near 20% increase in the number of companies visiting the campus this year. The top three companies at the campus this year included Deloitte, Accenture and PwC India. Students were also offered jobs by auto, energy, telecom and logistics companies.
Most of the colleges in the north also reported good numbers during the placement season this year, with the number of recruiters showing a 15 to 20% increase on average across the board. Similarly, average salaries also grew between 15% to 25% and ranged between Rs.24 lakhs to Rs.30 lakhs for most of the placements.
Another visible trend was the focus on management graduates this season as tech hiring remained low for most times. However, this is not to suggest that the trend of techies making it to the top companies is going to thaw any time soon. The actual reason is that most engineering colleges have their placement process kickstart only by April.