News: IITs & IIMs bag 137% & 121% higher salary packages

Compensation & Benefits

IITs & IIMs bag 137% & 121% higher salary packages

The survey was conducted across 114 engineering and 80 management institutes during the recently concluded campus placement season across different regions in India.
IITs & IIMs bag 137% & 121% higher salary packages

Mettl, assessment and skill-measurement company Mettl has released its Campus Hiring Report 2018, detailing some of the major salary and employment trends in the campus recruitment space. The report is the result of a survey conducted by Mettl across 194 institutes in India, comprising 114 engineering and 80 management institutions. 

Ketan Kapoor, CEO and Co-founder, Mettl, commented, “In the present age, there is a rise in demand for skilled candidates across all domains. To meet this demand, employers have taken the campus route to attract quality talent. However, employers face many challenges during campus placement drives.  From early attrition to their inability to retain candidates even after rolling out lucrative offer letters, companies face a major challenge that needs to be resolved to build loyal future leaders. This report is a one-stop solution for companies to smoothly execute their campus hiring programmes and efficiently acquire the best talent from leading engineering and management institutions of the country.” 

As a part of the survey, Mettl’s research team reached out to placement cells of various institutes in May 2018 during the campus placement season. The institutes were selected from all Indian geographies to derive a cumulative picture of hiring trends in the country. The survey revealed that graduates from the top Indian Institutes of Technology (IITs) bag 137% higher entry-level packages as compared to the average salary of an engineer, with CS/IT graduates receiving the highest annual package of INR 6.9 lakh p.a. Consequently, the new IITs are catching up fast with top NITs in terms of compensation packages offered, especially for CS/IT graduates where new IITs have surpassed Top NITs. Furthermore, candidates proficient in new-age skills like Machine Learning and Data Science were found to be hired largely from the top IITs. 

The survey analysis of hiring trends from the management institutes noted that top Indian Institute of Management (IIM) graduates received 121% higher salary packages than an average MBA graduate. In a region-wise analysis of management institutions, it was observed that West India held a leading position with 17% higher compensations than the average salary recorded. Also, graduates from the technology domain received the highest average salary package of INR 14.8 lakh p.a. Post-MBA, General Management roles accounted for the maximum number of hires at 31%, while roles in senior management were the highest paid jobs commanding 118% more than the average salary of MBA graduates. 

The Campus Hiring Report 2018 also offers a step-by-step guide for companies to effectively manage various stages of conducting a recruitment programme, from gathering information and shortlisting campuses to visit, to selecting high potential talent and evaluating them. One of Mettl’s key offerings for organizations to hire skilled and quality talent includes online assessments which are aimed at testing the logical reasoning, analytical, and verbal abilities of candidates. With the help of online assessments conducted among candidates across various institutes in the country, Mettl has created a campus scorecard based on overall scores of students from multiple campuses. 

The scorecard categorizes students by their performance in the assessments, which helps organizations conducting campus hiring programmes to recruit high-quality talent in a time and cost-effective, reliable, and efficient manner. To remove the possibility of cheating during online campus assessments, Mettl also offers a proprietary web-based proctoring solution that uses audio and video-based recognition features to ensure the integrity of recruitment tests. 

 

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Topics: Compensation & Benefits, #Career

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