Slowdown hits campus hiring
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Campus placement drives are confined to reputed engineering colleges this year, while the colleges that are not on the top-50 list are finding no takers. The reason is that recruitment firms have cut down their job offers by 50 per cent this year due to tough global economic conditions. However, the companies continue to offer high salary packages on par with previous years.
They are trying to fill the limited vacancies with the best available talent and hence have confined themselves to the reputed engineering colleges. Only 25 university colleges and 25 private colleges that figure in the top-50 list have been visited by recruiters. Campus placements usually begin in July-August but have been deferred to October this year. Many companies are yet to begin their placement drives.
The IT, ITeS and BPO firms that are among the top recruiters offer up to 40,000 jobs every year, but this year they are expected to recruit less than 20,000 candidates. “The companies are preferring students from NITs, university colleges like Osmania, JNTU and others, besides some top private colleges,” said B. Satyanarayana, a placement officer. For instance, in CBIT, Hyderabad, which figures in the top-10 list, 60 per cent of the students have already secured jobs, with the highest pay package being Rs 10.2 lakh per annum offered by Microsoft. In OU engineering college, 66 job offers have been made with two students getting a package of Rs 11.3 lakh each offered by Morgan Stanley.
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