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Unemployed even after passing IIT: The problem of unemployment in the country is getting worse day by day. Even those who graduate from prestigious educational institutions like IITs (Indian Institutes of Technology) do not get jobs, let alone other colleges and universities. The figures of the recently released placement report are shocking.
What do the figures say?
Recently news has come that a total of 21,500 students who passed out in the academic year 2024 in 23 IITs of the country had enrolled in campus placement to get a job, but only 13,410 of them could get a job. 8,090 students are still unemployed. The unemployment rate is 37.63!
No job despite studying from a prestigious institute
There was a time when a student passing out from IITs would get a well-paid job in a short span of time, but now the scenario has changed. The latest statistics prove that like other sectors, this sector too is now facing the brunt of unemployment. The unemployment rate after campus placements among this year's IIT graduates is at an all-time high.
Ever-increasing unemployment
The years 2023 and 2022 were not as bad as 2024. In 2023, 20,000 IIT graduates registered for placements, of which 15,830 got jobs. They received an average annual package of Rs 17.1 lakh. Last year, 4,170 students could not get jobs through campus recruitment. Of the 17,900 students who registered for jobs in 2022, more than 3,000 did not get jobs. This year the figure has increased to 8,090.
Will the number of recruiting companies increase or decrease?
The number of companies recruiting through campus placements has also increased this year. 364 organisations participated this year as compared to 324 companies that participated last year, which shows a growth of 12 per cent.
Graduates took another direction
The report states that many graduates have accepted alternative opportunities instead of jobs. Some students have opted for higher studies, some have chosen to become self-employed/entrepreneurs.
Statistics related to IIT Bombay
As far as Mumbai-based IIT Bombay is concerned, 2,414 students registered for jobs, out of which about 75 percent i.e. 1,475 students were successful in getting jobs and 939 remained unemployed. A job seeker got an average CTC (cost to company) package of Rs 23.5 lakh, which is 7.7 percent higher than last year's average of Rs 21.82 lakh per annum.
Detailed placement statistics of IIT Bombay
Total number of students enrolled: 2,414
Number of active participants: 1,979
Total number of job acceptors: 1,475
Total number of jobs offered: 1,650
Number of students who got jobs with salary more than Rs 1 crore per annum: 22
Number of pre-placement offers accepted: 258
Number of international jobs offered: 78
Average CTC of allotted offers: Rs 23.50 lakh per annum
Average Salary: Rs 17.92 lakh per annum
Top Recruiting Sectors: Engineering & Technology
Pay Scale Details:
Number of people earning more than Rs 20 lakh per year: 558
Number of jobs with salary between Rs 16.75 to 20 lakh per annum: 230
Number of jobs with salary between Rs 14 to 16.75 lakh per annum: 227
Number of people earning 12 to 14 lakh annual salary: 93
Number of people earning 10 to 12 lakh annual salary: 161
Number of jobs with salary between Rs 8 lakh to Rs 10 lakh per annum: 128
Number of jobs with salary between Rs 6 to 8 lakh per annum: 68
Number of people earning 4 to 6 lakh per annum salary: 10
Total number of IITs in the country: 23
Total number of IIT graduates in 2024: 21,500
Number of people employed through campus placements: 13,410
Number of unemployed students: 8,090
Unemployment percentage: 37.63
Number of unemployed IIT graduates in 2023: 4,170
Number of unemployed IIT graduates in 2022: Over 3,000