Freshers anxious as mass layoffs and tepid market lead to slump in campus placements
As per industry estimates about 15 lakh engineers graduate every year in India and approximately 10,000 get admitted in IITs each year. Rest go for NITs, state-run government colleges, and private colleges.
“A good number of large and mid-sized IT services companies are yet to onboard their 2022 batch. As a result, campus hiring will be relatively low this year, especially given the present upheaval in the BFSI industry. It does not appear like there will be any growth in the IT sector until at least the end of this year,” said S Pasupathi, COO, HirePro.
Pasupathi added that college hiring in 2022 faced issues starting around January and February, and when peak recruitment time began in July and August, companies did not hire in large numbers.
Companies will be selective in their college hiring this year. Some companies may not even visit certain colleges, or if they do, it will be primarily to maintain relationships rather than hiring in large numbers, according to Pasupathi.