IIT, IIM students get double the salary of other college grads
As employers look for quality talent, engineering graduates from top IITs are fetching 137 per cent higher salary package than an average engineer, while management graduates from top IIMs are getting 121 per cent more than an average MBA graduate, according to a report.
In IITs, computer science or information technology graduates are receiving the highest annual package of Rs 6.9 lakh per annum, global online talent measurement solution provider Mettl said in its campus hiring report 2018.
The report said candidates proficient in new-age skills like machine learning and data science are found to be hired largely from the top IITs.
"New IITs are catching up fast with top NITs in terms of compensation packages offered, especially for CS or IT graduates where new IITs have surpassed top NITs," it said.
In a region-wise analysis of management institutions, the report observed that west India held a leading position with 17 per cent higher compensations than the average salary recorded.
The report is the result of a survey conducted by Mettl across 194 institutes in the country, comprising 114 engineering and 80 management institutions, during January to June period, for placement for FY 2017-18.
It said graduates from the technology domain received the higher average salary package of Rs 14.8 lakh per annum post MBA.
The general management roles accounted for the maximum number of hires at 31 per cent, while roles in senior management were the highest paid jobs commanding 118 per cent more than the average salary of MBA graduates, it added.
Mettl chief executive and co-founder Ketan Kapoor said in the present age, there is a rise in demand for skilled candidates across all domains and employers have taken the campus route to attract quality talent to meet this demand.
"However, employers face many challenges during campus placement drives. From early attrition to inability to retain candidates even after rolling out lucrative offer letters, companies face a major challenge that needs to be resolved in order to build loyal future leaders," he added.