Source: Times of India
MUMBAI: Post-midnight developments at the premier IIT-Bombay campus, early on Monday, left several students thrilled. High-profile companies not just offered seriously high pay packets, they also went in for bulk hires on campus. A similar situation played out at other IITs in the country as well on the first two days of placements.
Samsung Korea, for one, hired around 14 candidates from IIT-B-the highest so far. Google picked up around 10 students.
Samsung Korea, which made an offer of $135,000 on campus, excluding performance-based incentives, hired 14 candidates for both its US and Korea offices. Last year, it had hired only one candidate.
Google hired three students for its California office and seven for India.
Microsoft recruited nine students at the IIT-B campus placements-five for US and four for India.
As most of these companies made bulk offers, by the end of the first day, the offered totalled around 180, up from last year’s 173. Around 40 offers were made for the first slot of Day Two. The second slot on Day Two will go on till midnight of Monday.
“By the end of the first day, more than 150 unique offers were made. Of these, 75% were for international postings,” said Avijit Chatterjee, professor-in-charge of placements at the institute.
WorldQuant, an investment firm, which made an offer of Rs 38 lakh for a domestic posting, picked four students. Blackstone offered Rs 35 lakh.
In the management consultancy sector, the average gross salary is around Rs 17 lakh.
Deutsche Bank hired 10 students, and Goldman Sach went for 16 from the Powai campus. The average gross salary in the consulting sector was around Rs 12.5 lakh. Boston Consultancy, Mckinsey and Bain picked up maximum students in this sector. In the oil and gas sector, Rs 15 lakh was the average gross salary offered to students.
Oracle, so far the highest payer at the institute, has made an offer of $211,000, out of which $110,000 is the base pay and the rest includes performance-based incentives and other allowances.
Elsewhere, at IIT-Madras, a student bagged the Oracle offer with the same package. Some firms that made bulk offers include Intel Technology with six, Nomura Structured Finance Services with five, Eaton Technologies and Citicorp Services India with 10 each. All the above companies are regular visitors on campus.
At IIT-Kanpur on Sunday, students accepted around 125 offers from 20 companies. On Monday, more than 50 students accepted offers. As many as 225 companies are scheduled to interview students this year compared with 170 last year.
The highest package, so far, at Kharagpur was $125,000. A total of 11 offers have been made by companies for their foreign offices. The highest domestic offer that has been made this time is Rs 36.9 lakh per annum. Among the top companies that have visited the Kharagpur campus and made offers include Google, Goldman Sachs, Credit Suisse, D B Centre, Opera Solutions, Microsoft, IBM, Schlumberger, Shell and SAP.
Source: Times of India
Techies increasingly opt for the sector as it offers better pay, promising career growth
First it was information technology (IT), then finance and now it is big data analytics – the current favourite sector for most Indian Institute of Technology (IIT) graduates.
Given better pay packages and promising career growth prospects, IITs have seen a good number of engineers opting for a career in data analytics during placements.
Big data refers to using of math and technology to arrive at behavioural sciences and design thinking. Companies process bytes of information sought from sensors and social networks.
This information is used to seek insights into customer behaviour, marketing, risk and supply chain among other areas. Analytics, say industry players, is the next big business segment.
Companies across sectors – IT, retail, fast-moving consumer goods (FMCG) and consulting – are looking at big data to gain competitive advantage. Firms, including Tata Consultancy Services, Genpact, Nu Sigma, Barclays Bank, Morgan Stanley, Boston Consulting Group, Bank of America Merill Lynch and Goldman Sachs are recruiting engineering students to do the math for them.
“With up to five years of experience, more and more IITians are moving towards data analytics. It is the slowdown in engineering, fatigue with software and a faster growth in profile that are attributed to this changing trend,” says Atul Kumar, director and co-founder of EduPristine. EduPristine is a training provider for international certifications and finance courses in India.
“With data volumes exploding, the profile of data analytics has become central to many companies. They need more and more engineers to work for them in this segment, and given data analytics involve writing codes, number crunching and logical thinking, that comes naturally to engineers,” says Kumar.
Spending on big data by companies, say industry players, is expected to grow to around $34 bn in 2020 from $4 bn in 2011.
Little wonder then that this week Apple acquired social media search and analytics start-up Topsy and this May, software exporter Wipro invested $30 million for a minority stake in Opera Solutions, New Jersey’s big data analytics firm, early this year. Japanese conglomerate Hitachi on the other hand is betting huge on big data analytics for its growth and sees its Asia-Pacific region increasing revenue by 25 per cent or more with its usage.
And, with a data analytics profile paying salaries of over 50 per cent than any other profile, it has become attractive for students.
“In other sectors like IT and Software, joining salaries have remained more or less the same with an increase of Rs 50,000 per annum, may be. But data analytics offers at least a 40-50 per cent higher joining salaries to students. This makes it attractive for them,” said a placement official from IIT-Ropar, Punjab. IIT-Ropar has seen a lot of interest in data analytics from its students this placement season.
At IIT-Bombay, 27 companies made 94 offers in analytics; 26 consulting firms made 124 offers and 78 offers from 19 companies in finance sector, last year.
IIT-Bombay, in its placement report of 2013, said a variety of profiles were opened up in the sectors, as these companies have begun to appreciate the analytical and quantitative analysis capability of the students. “A couple of years ago, companies were not offering positions in analytics. But more and more offers are coming our way and students are lapping it up,” said a placement official at IIT-Bombay.
IIT-Delhi had placed 5 per cent of its batch size last year in analytics.
Placements on IIT campuses for 2014 are still on.
* Big data refers to using of math and technology to arrive at behavioural sciences and design thinking process. Companies process bytes of information sought from sensors and social networks
* This information is used to seek insights into customer behaviour, marketing, risk and supply chain among other areas.
* Analytics is the next big business segment
* Spending on big data by companies is expected to grow to around $34 billion in 2020 from $4 billion in 2011
* Companies across sectors – IT, Retail, FMCG and Consulting – are looking at big data to gain competitive advantage
* Firms, including Tata Consultancy Services, Genpact, Nu Sigma, Barclays Bank, Morgan Stanley, Boston Consulting Group, Bank of America Merill Lynch and Goldman Sachs, are recruiting engineering students to do the math for them
Source: Times of India
MUMBAI: Life can come full circle in just a year. Advitiya Sharma sat uncomfortably in his dark suit as he pitched himself to top companies at IIT-Bombay last year. This week, Sharma was back on campus, in informal tees—as befits an engineer-turned-entrepreneur—picking up students from the Class of 2014.
The co-founder of Housing.com, a campus-born company, seemed at home sharing space at the IITs with global tech biggies like Google and Oracle—them with their bulge-bracket salary offers and promises of overseas postings—on the opening day of campus placements. The house-hunting portal snared 45 IIT graduates during top slots at campuses in Delhi, Mumbai, Kharagpur and Guwahati.
The mating season spreads across five months at engineering colleges; they have traditionally been fertile ground for startups in search of fresh talent and energy. This year though, a new pecking order appears to have emerged. Several recently incubated ventures have jumped to the head of the queue and are powering the opening days of campus placement.
“Never have so many startups made it to the first few slots. Not only are they paying a lot more, they are also popular among students because they have interesting profiles,” said Avijit Chatterjee, placement head at IIT-Bombay. “A lot of them are students who have graduated from here and they know exactly what they are looking for.” Companies are paying northwards of Rs 12-18 lakh (gross), and many are offering stock options, said placement team member.
Apart from Housing, IIT-B has given pride of placement to online restaurant discovery guide Zomato, online retailers Flipkart and Myntra, job site Naukri and Gulf Talent (for a posting in Dubai), classifieds website Quickr, and multi-screen gaming platform Snapstick. In the coming days, cab companies Ola and Meru, algorithmic trading firm iRagecapital, flight ticket booking site ibibo and customised software developer Skiify Solutions are in line to come.
Over the past couple of years, with the success of tech-based startups like Flipkart, Inmobi and Snapdeal, there is a sea-change in the way students at the prestigious IITs are evaluating offers from this new universe of employers. While most startups said it’s still difficult for non-funded ventures to attract talent from the IITs, the dynamics change dramatically once they’ve got money in the machine.
Bhavish Agarwal, 27, co-founder & CEO of Ola and an IIT-Bombay alumnus, said his two-year-old company will hire as many as 20 IIT students this year compared to five in 2012. “We’ll be at IIT-Bombay on Thursday and look for students who are not necessarily the best academically but have the raw talent to take risks. Ola plans to offer an annual package of Rs 10-12 lakh this year. “The profiles we look for are not typically the ones a big consulting firm would pick,” he added.
Zomato hired students from IIT-Delhi and IIT-Bombay in the first two days of placement season this year at an annual remuneration of Rs 26 lakh. Founder & CEO Deepinder Goyal said his five-year-old venture went for pre-placement talks with students this year to understand what they were looking for while evaluating offers. “We had to give competitive salaries because by Days 5 and 6 the best talent is gone. That’s how campus hiring works,” he said. Zomato raised $37 million from Sequoia Capital and existing investor Infoedge valuing the Delhi-based startup at over $150 million (Rs 900 crore).
One of the older startups Snapdeal hired 40 students from across IITs last year and its co-founder Kunal Bahl, a Wharton grad, said the e-commerce firm is looking to pick another 50 students this year. “For us the fit with the cultural and business needs are more important than the number we hire. The idea is to keep building a pipeline of future leaders who will bring new thoughts and abilities,” Bhal said.
This year at IIT-Kanpur, 18-20 startups are slotted for Week 1 and another 14 for the following week. At IIT-Madras, four startups have been slotted for the first week, with salaries in the range of Rs 8-11 lakh. By the end of Day 3, Flipkart had hired eight students. “Companies have been slotted on the basis of their salary packages and job profiles,” said V Babu, advisor, training & placement at IIT-M. “It goes to show that these startups have graduated,” said a member of the placement team at IIT-Kharagpur, which has also been playing host to a bevy of startups.
Source: Business Standard
The placement season has started off with good news for Indian Institutes of Technology (IITs) this year, with one IIT recording Rs 1.3 crore salary, while another, IIT, Kanpur, created history by placing 34 students with one company.
“The response from companies has been much better than what we expected. Even salaries offered are better than last year’s. This year, the highest salary stands at Rs 1.3 crore per annum from a US-based software major, an increase of 25 per cent,” said the placement chairperson from an IIT on condition of anonymity. The IIT refused to divulge more details, saying the company has requested so.
Final placements on IIT campuses began on December 1. First phase of final placements will be held between December 1 and 20 and the second phase will begin on January 6 till April-end, 2014.
“This year, placements have been better than last year in terms of number of participating firms as well as compensation packages. As against 150 firms, this year we anticipate 200 firms coming to the campus. Day one of the placement itself has been spectacular with EXL Services making of the largest hiring by a single firm of 34 offers including US profiles. This is a first in IIT, Kanpur’s, history,” said Vimal Kumar, chairperson (raining and placements) at IIT, Kanpur.
Held in two slots, the first day of the placement season at IIT, Kanpur, saw over 20 firms participating from varied sectors such as core engineering, computer science, banking, financial services and insurance (BFSI), consulting and analytics, among others. Among the top firms visiting on Day-One included GE, Google, Credit Suisse, ITC, Mitsubishi, Goldman Sachs, Oracle, Schlumberger, Intel and IBM.
IIT, Kanpur, will roughly see 200 firms participating in the placements process for a batch size of over 1,000 students.
Other firms likely to participate at IIT, Kanpur, placements include Oracle, Mitsubishi, Diamond Consulting, Credit Suisse, Deutsche Bank and Goldman Sachs, among others.
Day-Two of the placement process is expected to see major recruiters such as American Express, Amazon and Citi Group, among others, from sectors including core engineering, consulting, IT, e-commerce and business analytics.
At IIT, Bombay, 1,600 students will sit for placements this year and the institute expects 250-270 companies to participate. “Some US companies have doubled the salaries this year against what was offered last year,” said a placement official.
According to IIT-Bombay, Microsoft, Oracle, LinkedIn, Facebook, Goldman Sachs, Shell and Samsung have confirmed participation in the campus drive so far.
“While some US companies have taken care of their placement requirements through pre-placement offers, there are other companies like Google, Microsoft and Yahoo which have confirmed participation,” said Sudhir Barai, head of training and placement at IIT-Kharagpur.
For IIT-Kharagpur, feedback from recruiters has been very good. “The number of companies participating at IIT-Kharagpur has increased from 180 last year to 220 this year. The feedback from recruiters have been very good and salaries will be higher than last year,” said Barai. The batch size at IIT-Kharagpur this year is over 2,000 students.
The IITs also said some companies have dropped out after confirming. “This happens every year as companies take stock of their hiring situation by December. However, salaries offered have been higher,” said Kumar.
Other IITs did not respond to an email questionnaire. The placement process on the campuses was on Sunday till late in the evening.
Source: Times of India, dated:04/12/2013
Close to a fourth of the IIT-Powai campus was placed by Tuesday evening. About 400 offers were made and all were accepted.
Day 3 of placements at the Indian Institute of Technology-Bombay saw the highest international offer from MEC Japan that offered jobs to five students for an annual salary of 5 million yen (around Rs 30 lakh).
Domestic recruiters included power management company Eaton, Intel, Morgan Stanley tech division, Ernst & Young and Cadbury.
By the end of day 2, nearly 331 offers were made, said placement faculty in charge Avijit Chatterjee. “We are doing marginally better than last year,” he said. The late evening slot on Monday saw the highest international offer coming from Epic, a healthcare software firm which offered jobs to 18 graduates from IIT-Bombay, 20 from IIT-Kanpur and 12 students from IIT-Kharagpur. Epic is offering a basic annual salary of $ 90,000 and other allowances pump up the offer to $1,10,000. IdeaS, an American analytics company, hired two students for a base salary of $80,000.
In the case of other software firms, Samsung India and Xerox picked up several students and the average salary in this sector stands at Rs 17 lakh, said a placement committee member. In case of companies from the financial sectors, American Express, Nomura, Axis Securities and Capital One picked up several students from the Powai campus and the average annual salary stood at Rs12.5 lakh.
At IIT-Kharagpur, Flipkart made 26 offers, the highest across any IIT. Among other key recruiters are American Express, Citi Corp Services, Housing, VMWare and Nomura. On day 2, domestic organizations were at the lead at IIT-Kharagpur. Only A Star of Singapore made an international offer to students of the metallurgy department. In all, 71 offers were made by the end of 2nd day with the average salary of Rs20 lakh.
Recruiters took time to choose their future employees. Interviews are on beyond deadlines and many results of day 2 ran into the third day at most IITs. IIT-Madras saw a stream of big companies like Flipkart, Oracle, Tata Motors, Amazon, Cisco, Deloitte, Strand Life Sciences, Freescale Semiconductor and Infosys, with many offering multiple profiles. There were 18 profiles on day 3, said Lt Col (Retd) Jayakumar, deputy registrar (students & placement) at IIT-M.
This year, IIT-M decided to hold placements on the first two days in multiple sessions. On day 1, there were three sessions including a graveyard session between midnight and 6am to match time zones with US firms, while on day 2 there were two sessions in the morning and at midnight. Last year, each day consisted of only one session, which resulted in 55 job offers being forfeited as students received multiple offers, said Jayakumar.
But after day 2, the placement process this year reverted to its normal structure of one session per day which ends at 5pm like last year, placement officials said.
So far, salaries have gone as high as $2,10,000 per annum for international offers and Rs 48,68,000 per annum for domestic offers at IIT-Madras.
Central Library will remain open till 1.00 am (past midnight) w.e.f. 16th
Nov to 28th Nov 2013 (end-sem examinations).
Posted November 14, 2013on:
Source: Times of India, 14.11.2013
MUMBAI: A child who is studying may go through emotions like confusion, boredom, frustration and excitement. Now, an intelligent tutor can read the emotion a student is experiencing.
Ramkumar Rajendran, a research scholar at the IITB-Monash Research Academy in the city, is currently researching the development of a mathematical model for an intelligent tutoring system (ITS) which predicts and addresses the emotions of students as they interact with the system, making the teaching-learning process more effective.
An ITS adapts the learning content based on students’ performance, previous knowledge and background. Computer-based self-learning systems like the ITS allow a user to learn their topic of interest at their own pace.
Frustration with a learning system may cause a student to drop that topic.
If these affective states can be identified and predicted by the ITS, the role of states like frustration in learning can be minimized.
“Rajendran’s research in developing this mathematical model for predicting affective states such as frustration in ITS’ usage is a radical improvement on the way current commercial ITS works,” Mohan Krishnamoorthy, CEO of the academy, said.
The model developed by Rajendran is based on the information available in the log file of Mindspark, a maths ITS.
“Our research is preliminary, and a first step in real-time emotion identification in commercial ITS. However, I personally believe that in a decade or less the way of interacting with computer-based technology will be entirely different from how we interact with systems now,” Rajendran said.