The top 10% of the batch bagged an average CTC of Rs 28.5 lpa, for the top 20% average CTC was Rs 25.9 lpa, and for the top 30%, the average CTC was Rs 24.5 lpa with a YOY growth of 21%, 20%, and 22% respectively, according to a release shared by the institute.
Some companies are yet to onboard students from the previous batch, others are not visiting campuses or are revising salaries downward. The situation is expected to continue for the next few months at least, putting students in a tight spot, though colleges have tried broadbasing the recruiter pool to ensure minimal impact on placements.
"This is the best year so far in terms of placements," said Mahadeo Jaiswal, director, IIM Sambalpur. "There is a record jump in highest offer by 300% while the average salary has also gone up by around 30%."
State science and technology department director Lokesh Kumar Singh said that as many as 105 candidates were offered jobs in the first three days of the placement and the remaining 148 candidates were absorbed in the next seven days.
IITH has reported 508 offers, which includes 54 international, received from 144 companies during Phase-1 of campus placements held between December 1-7.
But the India story shone through with domestic hiring picking up and in some cases, offering better packages than global recruiters. Some IITs could not compile the job allocation data on Day One, as they followed a hybrid model —interviews were done in both online and offline mode.
Tech, sales and marketing, content, product developers, teachers and contractual staff like testers, have all been affected. While the first two categories have comparatively more opportunities, teachers are among the worst hit.
Placements for the 2022-23 batch are currently in progress. Maybe 5% of the companies might have some delay in the recruitment process but so far most of the companies have been esponding to us actively and will be coming for campus placement
The average package of an IIT-H graduate this year is 20.7 lakhs per annum (LPA), against the average package of 15.4 LPA in 2020-21. Despite pandemic, the packages of the students has only grown.
In fact, the number of those not receiving job offers had even worsened due to the nationwide lockdowns in early 2020. However, riding high on record placements due to rapid digitisation and a revival in hiring sentiment, the Class of 2022 has not only bagged the highest number of offers ever but has also seen a 15-25% increase in the number of students getting placed against pandemic-hit previous batch.
This was the second highest package in IIM-N records. Also, the sixth postgraduate programme (PGP) batch achieved 100% placements, with the highest number of students — 204 — appearing for job interviews.
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