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.
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
@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.
Placements are done but not yet onboarded π
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....
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.
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.
@Elon_Musk I think thereβs no harm in optimising for a high package if your peers are able to.
Furthermore, your figures are relatively ambitious. Itβs a rude awakening when you see what these guys are being offered.
cmon he can easily bag 20 l from iiit h
Every batch thinks they have it the hardest. 2009 batch was bad, am pretty sure 2000 / 2001 batch was even worse cause there werenβt 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 isnβt 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 canβt really empathise with freshers complaining about pay not being βhighβ 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.
@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.
Agreed with the βpay not being highβ 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 worldβ¦ The guy said that students donβt even respect teachers, they come and go in the classroom with their own vibe etc, and they have expectations that 30+ lpa is all setβ¦ 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)
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
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.
@Commercewala I completely understand what you are going through. It is always hard choosing between preparing for competitive exams or a job interview.
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?
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Increases their resale value during marriage! Donβt @me I know what Iβm saying
