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More firms but fewer offers at IITs this year

Wednesday, December 7th, 2016

 MUMBAI: Although more companies visited IIT campuses this year for Phase I of the recruitment process, the number of offers per company appear to be fewer than in the previous year.

At IIT-Bombay, the number of students picked by leading finance and consulting firms has reduced; it has shrunk from 16 to 13 as in the case with Goldman Sachs or nine to four from consulting firm BCG.

Meanwhile, students across IITs have received more offers from the analytics sector. Firms such as Goldman Sachs and JP Morgan, known to pick candidates for core finance profiles, for instance, have more openings in analytics.

A student said that barring a couple of firms from the finance and banking sectors like Deutsche Bank and Flow Traders that have offered core finance jobs, many such as Goldman Sachs and JP Morgan have offered analytics roles.

"Many look forward to these companies for finance roles. But they have sought more students from the software and coding background," said a student. Banks such as ANZ, Axis and CitiFinance, too, have hired students for roles that do not require financial background but programming skills and statistical modelling. Several students who have interned in banks and other financial firms were disappointed with the drop in offers.

At IIT-Kharagpur, the placement cell has witnessed an approximately 10% growth in big data analysts.

"Decision-making is more data-driven these days. All decisions have to be supported by data. There is a fresh wave of recruitment in this sector. Firms that were earlier hiring normal business analysts are now looking for data analysts and some are even looking at students who are into coding for techdriven roles. Banking firms are also now opening profiles for data analysts or data science analysts," said a placement representative from IIT-Kharagpur.

The institute has been offering tailor-made courses in deep learning and machine learning for these profiles since the past two years. He said that JP Morgan, known for picking students for their investment banking arms, has taken students only for data roles.

 

 


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