Campus hiring may decrease further over the coming two-three years. Recruitment may shrink to 150,000 from present 200,000
Mumbai-Oct 20, 2016. Rednewswire/-
Campus recruitment at many engineering colleges have been majorly effected this year due to the unpredictable result of US Presidential elections, increase in Artificial Intelligence and Brexit. According to some Indian institutes, recruitment offers may shrink by 20 percent and salary growth is likely to remain intact at mid level in colleges like SRM University, National Institute of Technology, VIT (Vellore and Chennai).
From the past five to six years, initial salaries of engineers have been consistent lingering around Rs 300,000-Rs 350,000 pa. Most engineering colleges will be starting with placements in early November but this brings a wave of caution with it. The placement process will continue till the end of this year.
Of the total jobs offered to graduates in India on campuses, jobs offered in IT sector accounts for 50-60 percent. Tech giants like Infosys,Tata Consultancy services and Wipro have assured jobs to prestigious institutes like VIT Vellore and Chennai, Birla Institute of Management & Technology, Greater Noida. But the number of jobs it will provide in not known.
Last year, Microsoft offered job to three students of National Institute of Technology, Warangal. Placements at this institute took place in August for a batch of 800 students. Professor-in-charge of placements at NIT Warangal, G Amba Prasad Rao, says, “Companies are not hiring large numbers. If earlier, they recruited four, this year they are recruiting two”.
The institute is trying to bring in a good number of companies for both undergraduate and post graduate batches. Till now about 60 companies have visited the campus. Almost all the companies have maintained the same CTC as last year’s. Though many companies belonging to manufacturing and PSU sector are increasing campus hirings but the institutes feel that it will still be insufficient to meet the dip in campus recruitment.
“There is uncertainty surrounding the US presidential elections coupled with Brexit and rising automation in the IT sector, which could impact the job market this year,” says a source at SRM University. SRM University has a batch of 8000 students including both undergraduates and postgraduates. According to V Samuel Rajkumar, director of placement and training, VIT, there is a simultaneous decrease in job offers from IT sector in comparison to the previous year but the institute was however not depending on IT sector and wasn’t greatly effected.
According to Kris Lakshmikanth, chairman and managing director, Head Hunter India, IT firms were in great need to hire employees for their immediate projects. During the peak, Infosys hired 25,000 freshers daily. The top three companies used to give 2 lakh job offers every year which has reduced to 70,000-80,000 this year. The annual addition of employees in the top five companies has also shown a reduction.
A Centrum Research says that the growth rate in total headcount of top five IT companies has dipped year-on-yaer since the past few years.