The Indian Institutes of Technology (IITs) have reported successful placements, with some students securing packages exceeding one crore amid challenging times in the job market. This has brought relief to students during a demanding placement season, particularly in the technology sector.

IIT students have received pre-placement offers (PPOs), guaranteeing job placements for those who accept them. These offers have been extended before the official start of final placements, commencing on December 1 at the older IITs, including IIT Bombay, IIT Madras, IIT Kharagpur, IIT Kanpur, IIT Roorkee, IIT Guwahati, and IIT Delhi, as stated in the ET report.

For on-campus placement teams, PPOs mean a reduced number of students to place at a time when many companies are cutting back on fresh recruitment and bypassing placements. Notably, the acceptance rates for pre-placement offers have increased as students are being encouraged to accept these offers, according to the report.

Major companies such as Microsoft, Cisco, Oracle, Texas Instruments, P&G, JPMC, ITC, Mastercard, American Express, Goldman Sachs, and KLA-Tencor have extended pre-placement offers to IIT students.

IIT Guwahati witnessed the highest PPO at Rs 1.10 crore, with five students receiving offers exceeding Rs 1 crore, reported Lalit Mohan Pandey, the head of IIT Guwahati's Centre for Career Development, to The Economic Times. As of now, 214 students at IIT-G have pre-placement offers, a figure comparable to the 218 offers made last year.

This year, IITs have seen a 10% increase in the number of companies offering PPOs, primarily because more companies have been invited to participate in the placements, added Pandey. At IIT-BHU, students secured 302 PPOs, slightly fewer than the 305 offers made last year. The highest offer at IIT-BHU stood at Rs 1.68 crore from N K Securities.

Source: Business Standard