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....
What do you mean randomly?
Are they checking inside people's pants before hiring again?
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.
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 p...
They say this shit every year
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 st...
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:
your reasons for working in the USA itself seems shady/shallow to me, It feels like you haven't done your research p...
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 ...
