CHENNAI: Major IT companies might have skipped on hiring from Chennai’s arts and science colleges this placement season, but startups, product companies and consultancies have more than made up for the loss. In fact, the colleges have registered a significant rise in the number of placements, with better pay packages to boot.
“The highest pay package last year was Rs 9.5 lakh per annum (LPA), but, this year it was Rs 12.81 LPA,” said Paul Wilson, principal of Madras Christian College (MCC). As many as 518 students from MCC have been placed so far (in the current academic year), against a total of 326 students last year.
Loyala College too witnessed record placements. According to college officials, while 430 students were placed last year, the number has surged to 680 this year, with more likely to be hired as placements continue till the end of March.
“IT companies opting out of campus hiring at our college has proved to be a blessing in disguise, as we have managed to negotiate for higher pay packages for our students with startups. Previously, IT firms recruited students in bulk at a starting salary of Rs 2.5-2.75 LPA but this year, the starting salary is Rs 3.5 LPA,” said Princely Samuel S, director (Training and Placement), Loyola College.
“The lukewarm response of IT companies this season was definitely a concern, but we noticed an interesting trend of startups, international schools and consulting firms hiring students from various departments in good numbers,” said Archana Prasad, principal of MOP Vaishnav College.
College officials said they are aware the global tech industry is going through a recession and had planned accordingly to ensure lucrative job offers for the students.
‘Those who bagged jobs yet to be onboarded’
“Those who received offer letters from major tech companies last year are yet to be taken onboard, so we were aware of the prevailing situation. We tried to reach out to as many companies as possible, be it big or small. We also created awareness among the students regarding the startup ecosystem, so that they wouldn’t hesitate to join smaller companies,” said the placement officer of a city college.
Meanwhile, some other institutions are also organising job fairs on their campuses. Santhosh Baboo, principal of DG Vaishnav College, said, “Placements this year have been on par with last year. Over 380 students are placed so far, and to boost the number, we are organising a fair on March 11 with 70 companies taking part.”