IIT-B Refutes Claim Of 36% Jobless Graduates; Says Only 6.1% Students Unemployed

IIT Bombay, on April 4, has refuted the reports claiming that 36 per cent of students had not yet secured placements. The top engineering institute stated in a tweet that only 6.1 per cent of students who will graduate in 2022–2023 are still hunting for work, according to an exit survey of graduating students. 

It was revealed on April 3 that 712 students, or an astounding 36 per cent of the roughly 2,000 youngsters, who enrolled for the 2024 placements, still had not secured employment.

According to the released exit poll, 57.1 per cent of students were placed, 12.2 per cent chose to pursue advanced degrees, and 10.3 per cent desired employment outside of IIT-B. Additionally, the poll revealed that 8.3 per cent of students stated they intended to pursue careers in public service, 1.6 per cent in start-ups, and 4.3 per cent were unsure.

Lately there has been news that over 30% of IITB students do not get jobs! An exit survey among graduating students in 2022-23 says only 6.1% are still looking for jobs. Here is the survey result for you to decide... pic.twitter.com/ICrAQUdpVt

— IIT Bombay (@iitbombay) April 4, 2024

It goes without saying that now is not the ideal moment to be looking for jobs. Several of the world's leading corporations have imposed employment bans, mass layoffs, and other cost-cutting measures in recent months.

The most recent class of IIT Bombay students is facing a setback, despite the fact that this is the time of year when IIT and IIM "100% placement" news attracts attention. Concerns regarding unemployment in India are growing, as 36 percent of applicants are unable to find employment.

This year is the first time when students in the computer science and engineering department, who normally have a 100 percent placement rate, have not met this goal, according to officials. At the institute, this is still the most sought-after course.

Although the institute strives to maintain high average pay packages, there are increasing worries that this emphasis might not be in line with every student's needs and goals, which could complicate the placement procedure.

It was revealed in December 2023, during the first round of placements, that 85 candidates had received offers exceeding INR 1 crore. This number was later changed, though, to show that only 22 students had truly gotten these offers. It is planned for the placement season to last until May 2024.

Despite the institute's best efforts, a lot of students still struggle with accepting job offers, and others choose to pursue other career options instead of accepting one of the offers.

The job market is changing due to the fact that many organisations are looking to hire people from within the country. This presents new difficulties for recruiters and students alike.

Following these developments, it is necessary for stakeholders to collaborate and design plans that take into account the changing demands of students as well as the realities of the labour market.