Placement Scenario in India in 2013-2014
Like the rest of the world, the Indian economy is going through its own rough patch. Given the grim state of affairs, the placement scenario in India 2013-14 has inevitably taken a hit. While doomsayers are predicting the worst, things are not that dire. Sure, they can be better, but they are far from hitting rock bottom.
The bad news
Let us start with the bad news. Campus recruitments have definitely taken a hit. Some years back it was the top B-schools that were considered the kings of campus placements. Every year ended like your favorite thriller - anxious students, the race for the top employers and a finish with the unexpected twist. Every student in the country opened up the newspaper to see who bagged the top price.
The year 2013, in contrast, has been unexpectedly subdued. There are few top players, if any. Many of the global companies are facing their own crises. As a result, business schools have seen fewer employers. In many of the top business schools, students were unable to find placements even months after campus recruitment drive were over.
This is true for even the IIMs. Some of the IIMs this year held their convocation ceremonies without releasing their full placement reports. Some of the newer IIMs had to continue with their placements concurrent with their convocation ceremonies. The scene is similar in the other top B-schools.
The other bad news has been the almost negligible rise in salaries. Average salaries have remained static or risen very little. In some cases it has actually dropped, as in the case of FMS Delhi in 2013. With the slowdown in global economy showing little signs of uplift, the scenario is expected to remain pretty much the same in 2014.
The good news
Now that we have dispensed with the gloom, it is time to focus on the positives. While campus placements in many campuses have been slow, it is not all doom. Even when success is not assured at the first draw, many students have been picked up in later recruitment drives. Even more importantly, even students who fail to find campus placements have managed to find employment off campus. In other words, you may find it slow going, but you will eventually find something of your choice.
The other good news is the emergence of other fields. As has been the trend in the last few years, tech jobs are still hot draws. These fields also draw companies from overseas. Computer science students remain in high demand. Although they may not commandeer the often-staggering salaries of management students, they nevertheless have a high rate of recruitment.
The placement scenario in 2013-14 is expected to remain the same. Many B-schools have already received less than enthusiastic response from prospective employers. Engineering students may see similar lackluster response. However, widespread need for infrastructure development will mean more employment in this sector.
Finally, for those graduating in 2014, things are not all bad. Going by 2013, your dream job may take a little time, but you will get there eventually. Stick to companies with good profile, a job with a learning curve and ignore big bang salaries. Don't worry. You will get there eventually.
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