IT’s Boom time…

Sun, Jan 3 05:14 AM
With slowdown now history, companies line up for campus recruitment

Unlike last year, when placement was a big worry for city colleges and institutes, this year they are making their own rules. With companies lining up for recruitment, several institutes have put a cap on minimum annual packages. This, when the annual packages have been increased.

Annual pay packagesAt University Business School (UBS), Panjab University, the highest package has been Rs 10.4 lakh per annum this year � average package has been Rs 6.8 lakh per annum.

UBS officials say as many companies are lining up for recruitment, “the highest pay package may rise further”.

Prof Sanjay Kaushik, training and placement officer at UBS, said, “Placements are definitely better than last year. Also, compared to last year, a few companies have increased their annual pay packages. There is a boom like situation again.”

Cap on pay packagesUBS has put a cap of Rs 4.5 lakh on pay packages � companies offering less than are not welcome. Other institutes, including University Institute of Engineering and Technology (UIET), Panjab University and PEC University of Technology, have followed suit.

At UIET, companies offering anything below Rs 3 lakh per annum have not been invited. At PEC, Rs 3.5 lakh per annum is the lower limit.

“This year, companies have shown enthusiasm in recruiting students. There is absolutely no comparison to last year’s scenario. Recession is a thing of the past. It is definitely boom time,” Prof K K Garg, training and placement officer at PEC, said.

Placement no worryAt PEC, 40 per cent of students have been placed. Authorities expect the rest to be placed within a week.

“Placements in our college were put on hold for some time due to swine flu, vacations and then exams. But companies kept approaching us,” Prof Garg said.

At UIET, 200 of the 300 students have been placed. Though the maximum pay package at UIET has been Rs 3.5 lakh per annum, students and teachers are happy with the way things are turning out.

“Last year, we faced bad times. Many students were not placed. Also, some were recruited, but were never called to join,” Dr Gurdeep Singh, training and placement officer at UIET, said. “This year, there is no such situation. We’re sure of 100 per cent placement. Also, the maximum pay package will increase for sure.”

Private colleges expect 100 per cent placementEven private colleges are overwhelmed by the companies’ demand. Dr Sandeep Kaura, assistant managing director, Ryat and Bahara Group, said, “Recession is over for sure. We have core companies recruiting our students. Earlier, not many core companies used to visit but this year things are different.”

At Ryat and Bahara, of the 500 students, 300 have been placed, and officials expect “100 per cent placement by January 15”.

Source : Yahoo News