Not very long ago, placement cells in B-schools and IIT's were flying high in glory of startup growth in India. Students were going all out to get onto the lucrative ‘Start-Up bandwagon’. Literally some 365 days ago, it seemed like a win-win situation. The story, as we see it now, is different. The year 2016 has seen a massive downturn, turning it into a year of uncertainty. Entrepreneur analyses what the future holds for graduates in this climate.
The signs of ‘turbulent times ahead’ were visible from October last year. Though it is impossible to predict the future, gauging trends is possible. Did placement cells in IITs and IIMs not keep a track and inform students?
The fact is that there are worries in the start-up ecosystem and it is going through a phase of correction. For students, who are on the threshold of starting their careers, the tide is high and a lot is at stake. It is obvious to hope for a great career start after fighting to secure a berth in such top institutions.
What is the future?
Meet 23-year-old, IITian Akash Neeraj Mittal who hogged headlines for product listing-like presentation of his resume on Flipkart in March this year. His out-of-the box approach didn’t help him get a job and he is now working on his own start-up in the organic food industry.
According to him, money is a huge deal for graduates.
“One of the biggest factors is money, then branding and finally the growth opportunity. Graduates look for start-ups that are well-funded, have a good brand name and pay well,” says Mittal.
At IIT Kharagpur, there are 1,500 graduates up for placements every year, the competition is fierce. The average package for IIT graduates is around Rs 9 to 12 lakh per annum. However, bigger start-ups like Amazon, Snapdeal and Flipkart have given students packages of up to Rs 18 lakh.
Market expert, Arvind Singhal, Chairman of Technopak Consultancy says that blown-up salary packages are beginning to backfire.
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