A weak economy and sluggish job market has affected the job prospects of young engineering and management students of Cochin University of Science and Technology (Cusat). The number of companies recruiting students from schools of engineering and management at the university has fallen by almost 50%. Also there has been no increase in annual pay packets offered by private companies.
So far, only 15 companies have approached the school of engineering for recruiting students this year. In contrast, last year almost 30 companies had approached the institute. Most of the companies are also not interested in mass recruitments this year.
“Except for TCS and Wipro, no other company has shown interest in mass recruitment. This is mainly because the business is slow. The number of mass recruitments for TCS this year is 100 and Wipro 42. These are much lower compared with last year,” said a university official.
“Due to the slowdown, companies have hired cautiously this year and reduced the number of recruits compared with last year. So far, only three companies have come to our department for campus placement. Last year, by this time we had nearly 10 companies approaching us for campus placement,” said Dr M Bhasi, placement co-ordinator of management studies,.
He said that though some companies have expressed interest in recruiting students, they don’t want to commit at the moment. “We expect the situation to improve by next year,” added Bhasi.
With no major recruitment drives happening, engineering students are being advised to pursuehigher education rather than hunt for jobs.
“The market is bad and there is no immediate solution at hand. Therefore, we are advising our students to go for either MTech or MBA, but majority of them are interested in getting a job,” added Dr George Mathew, faculty in-charge, placement of engineering students at Cusat.
Last year, public sector undertakings, IT companies and banks had come for campus placement to Cusat. While the highest salary offered by IT companies stood at Rs 7 lakh per annum, the banking sector offered Rs 4.5 lakh, said sources. But this year, except for Wipro and TCS no other IT company has shown any interest.
BOX: Ground reality
- Number of companies recruiting students from schools of engineering and management has fallen by almost 50% this year
- Compared with 30 companies last year, only 15 companies have approached the school of engineering for recruiting students this year
- Compared with 10 companies last year, only three companies have approached the school of management for campus placement
- No increase in annual pay packets offered by private companies
- Except for TCS and Wipro, no other company has shown interest in mass recruitment
- While TCS has recruited 100 students this year and Wipro has taken 42
as seen on The times of india