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New Delhi: The economic slowdown seems to be taking a backseat with the top recruiters not only entering the Indian Institutes of Technology (IITs) but also making serpentine lines of the recruited students recently.
The IIT attracted the virtual who's who of the job market - Microsoft, Intel, ITC, Shell, Morgan Stanley, Tower Research, HUL and British Gas, among others.
The IIT authorities said that, "This time there is expected to be a rise of 20 to 30 per cent in the average salary offered to its students."It has been a major turn around for the IITs which had badly sunken in the recession last year.
Recording a major drop-down, the number of multi-national recruiters sunk by 53 per cent from 3,031 in 2008 to 1,606 in 2009.The placement season that began in December 2008 dragged on until June 2009.
While a global major offered nine IIT-Kanpur students Rs.25 lakh a year, Kharagpur posted the highest salary of Rs.22 lakh a year.Although IIT-Bombay was averse to disclose the remunerations notched up on day one, Ravi Sinha, placement in-charge, said, "This year also saw a good start with some great offers."The information technology sector, in the wake of the meltdown, however, seems to have lost some of its charm.S.K.Srivastava, placement in-charge at IIT-Kharagpur said that,
"We are expecting the core engineering companies which comprise 50% of the lot this year, to make some good offers."Abhishek Malhotra, India partner and in-charge of recruitment of global management consultancy firm, Booz and Company, assured that, "This time, the company has improved the number of offers and salary structure.
"There is more news in the technological department than just the placements. The centrally funded technical institutions including the IITs and the Indian Institutes of Management (IIMs) are suffering a major faculty crunch.The Lok Sabha on Wednesday was told that such institutions are facing about 25% shortage of faculty members due to retirement and resignations in these top institutes, Human Resource Development (HRD) Minister Kapil Sibal said in a written reply.
Detailing the number of vacancies, the minister said that, "Against the sanctioned strength of 4,267, the faculty position in the IITs stands at 2,983. In the IIMs too, there is a similar story where there are 388 faculty members against the sanctioned strength of 468. The National Institutes of Technology (NITs) too faces the same position where the faculty is 2603 against the sanctioned strength of 3747."
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