Office Gossip Community

by salt

a year ago

🚨 ℂ𝕝𝕒𝕤𝕤 𝕠𝕗 𝟚𝟘𝟚𝟛 might be the unluckiest graduating class 𝔹𝕀𝔾 𝕋𝕀𝕄𝔼!!

Talked to the son of my Dad's friend recently. Brilliant kid has a good GPA from IIIT-H + 2 research internships and 1 summer internship at good companies. He still can't find a "good" company to get into. (Side Note: "good" implies a high paying job relative to last couple of years) Apparently, most of his friends in other colleges are in the same boat. Massive pay correction has happened. The undergoing rationale is that companies hired Class of 2022 with no restraint because the demand was really strong during their placement season in 2021. This appears to be directly correlated with quantitative easing in the US and a low interest rate environment that was conducive to fundraising for several Series A+ startups. By the time Class of 2022 entered the market, everything changed and they felt some short term change. However, Class of 2023 is having a much tougher time. They are shoved into the job market in a time where demand is low and they are competing with kids who graduated last year. Ongoing consensus appears to be that a huge chunk of their batchmates are going to get their Masters abroad. Their hope is that by the time they graduate out of grad school, the economy will pick up and demand will be strong while they're poised to take advantage of that with bump up credentials. Unfortunately, this also implies that many of them will end up in the CPT-OPT-H1B-Green Card hell. This is really a tough spot to be in.

Wannabe_PM

Stealth

a year ago

Is this about the offcampus scenario? I'm assuming on campus placement are done way back for 2023 batch I'm from 2022 batch and I feel that our juniors got better placement opportunities than us in terms of pay and no. of companies visiting the campus I'm from a Top 10 NIT btw

salt

Gojek

a year ago

@Not_A_ProjectManager On Campus have obviously concluded earlier and were lacklustre according to people I have spoken to. Off campus is harsher than ever right now. I think it is broadly believed that 2023 has it way worse than 2022. For reasons highlighted above.

TornMargin

Schmalz

a year ago

Placements are done but not yet onboarded 😂

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FancyDraw

Stealth

a year ago

2025 Grad here, very rough year this time around for internships. While there are less companies hiring on other hand companies like JPMC hiring randomly makes it even more frustrating. God knows 2025 mein placement kesa hoga....

BladeRunner007

Fintech Startup

a year ago

What do you mean randomly?

iBoy

Stealth

a year ago

Are they checking inside people's pants before hiring again?

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Baingan

Student

a year ago

class of 2009 says "hold. my beer" at least in India there is GDP growth.. hope is situation will turn now. 2009 was horrible. even manufacturing as cutting costs.

salt

Gojek

a year ago

@Baingan Ah yes, the Great Financial Crisis. Weathered a major storm there.

LooseGoose

Stealth

a year ago

Who's to say something similar isn't in store for us right now?

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Elon_Musk

X.com

a year ago

I don't get what you mean here ... If the kid went to IIIT-H CS then he would have like 20+l offer in hand. If he is trying to get offers like 40-50l on campus or off then that's unfeesable in current market conditions not to mention it's an unrealistic expectation that got setup due to last 2 years of boom.

salt

Gojek

a year ago

@Elon_Musk I think there’s no harm in optimising for a high package if your peers are able to. Furthermore, your figures are relatively ambitious. It’s a rude awakening when you see what these guys are being offered.

nothing

Stealth

a year ago

cmon he can easily bag 20 l from iiit h

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GoodCondor96

Sprinklr

a year ago

I am from 2023 batch, we are not getting good opportunities the thing is either we have to compromise with the pay or the job role.

salt

Gojek

a year ago

@GoodCondor96 That appears to be true. Yes.

Toph56

Stealth

a year ago

Every batch thinks they have it the hardest. 2009 batch was bad, am pretty sure 2000 / 2001 batch was even worse cause there weren’t enough tech companies in the first place. Your best bet was to get placed in a services company. Or take up a manufacturing job which paid even lesser or a govt. job or wait - no job at all. Not getting a high pay isn’t a problem - why the rush to make it that big in the first job. The unrealistic salary situation needed a correction and it was inevitable. I can’t really empathise with freshers complaining about pay not being ‘high’ these days. Optimising for a high pay, going out to study, spending even more and expecting to get paid even more to recover that cost - tough one.

salt

Gojek

a year ago

@Toph56 Not going to lie, your reasoning is pretty solid. But the wisdom in looking back is relatively easier than calling the shot right now.

shpinq

US Based MNC, India location

a year ago

Agreed with the “pay not being high” is hardly any aspect to empathise. Besides, a person from IIIT-H I talked to few months back, told me that students there are so off the mark, completely away from ground reality, in their own lofty world… The guy said that students don’t even respect teachers, they come and go in the classroom with their own vibe etc, and they have expectations that 30+ lpa is all set… Not sure how truthful he was, but I had personally seen one IIIT-H guy in my office, the guy used to come in burmooda pants and chappals, always with Apple airpods in ear, going around with a vibe that he likes to make office as a his party place (which could be nice in a contrarian way, but then everything has a time and place)

MicahBell

Startup

a year ago

Could this spur higher registrations for MBA programs/exams?

salt

Gojek

a year ago

@MicahBell It already has. Checkout CAT registrations.

ModiMeloni

Deloitte

a year ago

There are approx 1 lac more candidates this year

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TornMargin

Schmalz

a year ago

Unlucky us 😓

salt

Gojek

a year ago

I wish you all the best though. Times are hard.

TaiLung

TCS

a year ago

Well those who got placed are facing delayed onboarding process 🥲🥲 Ab pata nahi kya karu aage

salt

Gojek

a year ago

@Loveday It will eventually turn in your favour. Don’t you worry one bit.

TornMargin

Schmalz

a year ago

🙏

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lime

Student

a year ago

I'm in my Final Year at one of the Top Colleges for Commerce and trust me when I tell you it is so tough out there at the moment. Worked for 1+ Year to get placed at a good enough firm and low and behold most of them are not coming this year. I'm in a commerce college so anyway we have low relative placement and to add on that the companies which used to come in previous years are not coming/not offering upto the mark. Would probably try to complete my certifications and try to go for Masters and wait out the storm, I deeply regret not having prepared for GMAT or CAT, I didn't realise it would be so tough.

salt

Gojek

a year ago

@Commercewala I completely understand what you are going through. It is always hard choosing between preparing for competitive exams or a job interview.

BearBear

Stealth

a year ago

2020 se zyada koi nahi, 2020 me placement nahi huye 2021 me log ready nahi the achanak se market boom hua jinka placement hua unke se 70% layoff hogaye 2022 me recession aagaya dobara, 2023 me fir recession aagaya. Bhai ghanta 2023 sabse unlucky batch hai

salt

Gojek

a year ago

@DonnyDarko 🆗

roct

Accenture

a year ago

🙂

BladeRunner007

Fintech Startup

a year ago

Breaks my heart seeing the bloodbath in job market. In hindsight I used to think our batch, which graduated during pandemic was the unluckiest. Now i feel, I was lucky to graduate couple of years early.

salt

Gojek

a year ago

@BladeRunner007 The earlier the better always.

roct

Accenture

a year ago

2023 and 2024 are having it tough. Companies are still hiring but the # of high paying ones visiting campus has reduced and the # of people they select has also reduced

salt

Gojek

a year ago

@roct that’s what I have been hearing as well.

roct

Accenture

a year ago

Can confirm. I'm 2024 batch

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victusd

Stealth

a year ago

What about '24 grad ? Was applying to jobs and almost no jobs for freshers. Everyone requires experience. What do we do ?

salt

Gojek

a year ago

@victusd Leverage your unfair advantage. Get in through referrals or excellent proof of work.

victusd

Stealth

a year ago

what unfair advantage? If you are hiring, won't you prefer a '23 grad with the little experience s/he brings over '24 grads ?

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BareActivity

Microsoft

a year ago

Well u guys didnt see the hell of 2008/2009 the whole market has corrected its naive to expect freshers to get the same package .. freshers in short term have least impact ..in same price companies are getting experienced folks so its simple demand n supply ..sooner u realise the better u cope with it .. and not feel sorry for urslf or luck

NinjaHatori

Stealth

a year ago

Class of 2024 ka bhi to same hi condition hai, isn't it? Want to know POV of others

Ragnar

CelebalTech

a year ago

Worse than 2023 Atleast there are opportunities for 2023 (with less compensation) 2024 is not getting of campus anything and on campus has been very very bad

JackDaniels

Student

a year ago

Guys we all have to be positive of the current situation and remember Lord Krishna's saying, "Ye waqt bhi Guzar Jaayega"

LigmaBallsach

Google

a year ago

Also , the companies this time have gone woke big time. They are unable to meet diversity criteria from lateral hiring as because of the biased talent pool in the market hence they are aggressively hiring only women students from campus as the skill based barrier to entry is missing there.

Snapshot

AO Hospitality

a year ago

It’s a tough year for sure to begin … what with inflation, slow downs, corrections , lay offs … spending so much money on great colleges one needs to see the RoI over the first 10 year horizon

fella

Student

a year ago

Class of 2024 is also fucked up, i am from under 10 NIRF rank college. The CSE branch have 60-70 ppl placed out of 130 batch strength.

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by NinjaHatori

Stealth

9 months ago

The unluckiest batch?

After seeing current placement stats of top IITs, even after Day6 not even 50% of the batch is unplaced can we say that 2024 is the unluckiest batch? Students with good CGPA, having internships in reputed internships are not getting placed. It's worse for mediocre students. What are alternativev for these unplaced students?

Indian Startups on

by LooseGoose

Stealth

2 months ago

If you think IIT IIM students have it bad, take a look at other colleges

We hire interns occasionally, and the market for interns is so bad right now, students are approaching us to work for free (we do pay a stipend and don't ask for free work). Companies aren't even hiring that many interns, and college students need internship experience to add to their resume and compete in the market. Heck, MSMEs are shutting down and MNCs are doing layoffs, not very inspiring. We've managed to survive somehow through all the covid ups and downs. Would like to know more from students on GV, what's your college internship and placement scenario like? What are you doing to stand out?

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by AGIcoming

Google

9 months ago

As per reliable sources, placement coordination committee members of IITs are requesting even those companies which were never considered before or were blacklisted.

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by EasyVirus

Accenture

5 months ago

What to do if your parents refused to fund your education(MS/MBA) abroad?

So my sibling is about to graduate with a degree in Computer Science from a T2 college in a few months and wants to now do MS in the US because of three reasons: 1. Low levels of violence against women(Sexual Assault) [IMPORTANT!!] 2. Want to do innovative work in the US instead of working on copycat products in India 3. Ambition of living in the US long term because of free-er culture But my parents have flat out refused to fund the education or even help her with a loan due to regressive mentality (nahi jaana baahar, 2-3 saal kaam karo aur shaadi karo chup chaap) She has accepted a job offer for now and will make 14L/year. What are her options? Should she drop the idea of MS abroad?

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by ardra

Others

a year ago

Pandemic batch struggles

At this point in time, a lot of graduates who graduated into the pandemic job market have serious pay parity between those before them and after them. Base pay for pandemic grads were atleast slashed by 60%, and most of us were likely we even got a job back then to gain some experience. Now with atleast 3-4 years of experience in our bag, freshers get way more than us. Why don't companies roll-back how they view pandemic graduates and pay them what they deserve?

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by Chanakya

indsource international

5 months ago

Is your Degree worth it?

36% of IIT Bombay graduates fail to get placement.

Indian IT on

by Unknown_

Stealth

4 months ago

Stuck into the startup hell

When I was in 7th semester i joined as early-stage IIID startup, they said they will hire me as a full-time employee after the 5 month, after the 5 month I am asking for my full time, they said at this stage we can afford a full time employee we will surely hire you after the 3 month, and now 3 month completed and I am asking for my full time they said we will releases your full time offer letter you can join as a full time after your clg, after some arguments i said okay bcz i have just 2 month left in my btech so I said send me the offer letter and they was like ya just sending tomorrow, sending..and sending I asked the offer letter 4-5 times and he did not send said just sending stuck into the problem, now what I do I am just thinking i can definitely crack another offer letter in 1 month , but i have to start from scratch as a intern thats the problem, but I am thinking I will delete all the database all the code and everything which I can bcz I have admin access of everything cloud , GitHub so i am gonna to do it in next 2 days but I am stuck into that by what I am getting nothing but fir bhi Krna toh padega vrna yad kese rkhega ..........