In a surprising turn, the Indian Institutes of Technology (IITs) are grappling with a 30% drop in job offers for the Class of 2024 during this year’s final placements. Even computer science engineering students, typically highly sought after, are facing delays in securing positions. The decline is attributed to factors such as fewer applications per recruiter, some companies skipping placements, and an overall subdued hiring atmosphere, partly due to the ongoing tech slowdown.
The situation is particularly alarming as the renowned IITs, including Delhi, Bombay, Kanpur, Madras, Kharagpur, Roorkee, Guwahati, and Varanasi (BHU), are considered benchmarks for engineering placements nationwide. The trend marks a departure from previous years, where these institutions consistently outperformed amid challenging conditions. Recruiters, who once hired multiple students, are now opting for significantly fewer placements, with some leaving campuses without making any hires.
As of Day 7, IIT Kharagpur reported 1,181 offers, compared to 1,300 by the same point last year. Similarly, IIT-BHU received 850 offers, down from approximately 1,000 in the previous year’s first four days. The decline spans various sectors, including consulting and technology, and is raising concerns among students about the overall employment landscape. The final placements, which began on December 1, 2023, reflect a challenging scenario that extends beyond individual institutes, signaling a broader hiring downturn.
