NEW DELHI: State-run companies will be among the first at the Indian Institutes of Technology (IIT) this placement season, which may help them pick the cream of talent at the nation's top engineering colleges. In the past, salary packages were the prime parameter for slot allotment for campus recruitments, which meant public sector units were pushed towards the end of the season as the pay they offer wasn't among the best.
IITs have made a decision this time to let PSUs have access to their top talent by allotting them early slots. Though the entry-level salaries in PSUs for such recruits typically range from Rs 9 lakh to Rs 15 lakh a year — much less than what multinationals and new-age companies offer — many students are also now eager to work in these state-run core engineering firms, said an IIT-Bombay student.
Oil & Natural Gas Corp has a Day 1 slot at IIT-Roorkee this time while at other IITs, including Bombay, Delhi, Guwahati, Varanasi (BHU) and Kharagpur, most PSUs are coming in the first two weeks of the placement season that starts in December. Previously, they were the backbenchers, landing on campuses only in January or February, by when most of the students with high grades would be gone.
"All IITs have taken a stand on PSUs, that they should get the top engineering talent. PSUs are also a favourite among students as they look forward to work in core companies," said Anil Kumar Agarwal, professor in charge of placement at IIT-BHU.
"The idea is to send the cream from IITs to serve the nation," explained a faculty in charge of placement at one of the oldest IITs in the country, who did not wish to reveal his name.
Previously, only one or two PSUs would make a visit to an IIT. But this year, they are not only visiting early, but are also coming in large numbers.
This may also be a respite for students at a time when startups and e-commerce majors are mostly missing from the placements scene. Last year, these new-age companies were among the major recruiters at the IITs, and some of them had to face flak for delaying the joining of students they recruited. Most IITs are anticipating a twoto three-fold jump in the number of PSUs visiting this time.
IIT-Bombay is expecting seven PSUs to visit the campus this season, compared with just three last year. The new companies coming this year include Coal India, Indian Oil, Bharat Petroleum, ONGC and Bharat Electronics. "We are expecting at least 40 offers this season compared to 15 last year," said a person part of the IIT-Bombay placement team.
At IIT-Guwahati, among the state-run companies visiting after a gap of few years include Indian Oil, Coal India, NBCC and Bharat Electronics.
"Last year, we had 40 offers from PSUs and this year we expect the offers from PSUs to go beyond 100," said the official in charge of placement at IIT-Guwahati who did not wish to disclose his name. "There is a lot of excitement among students this year as the representation of PSUs in the placement is getting better with the ban lifted last year," he said.
The Madras High Court had barred PSUs from participating in campus recruitments (including the IITs) in 2014 following a public interest litigation. "This is the first time that so many PSUs are coming and that also so early," said a professor at IIT-Kharagpur, who is part of the placement cell.
In all, more than a dozen PSUs are visiting the campus this year, of which the new ones include Coal India, HPCL, ONGC, BPCL and Indian Oil.
Most IITs had initially invited around 100 PSUs each with directors and faculty members reaching out to them to ensure they attend.
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