PSUs top employers in IIT-M placement

Chennai: Thanks to pay commission revisions, public sector units were able to compete with private sector companies and offer good packages at the ongoing placement season at IIT Madras this year, reports Economic Times.

"Top PSUs which visited the campus this time include ONGC, DRDO, BHEL, NTPC, Mazagon Docks, Bharti Shipyard and Pipavav Shipyard," said Deputy Registrar and Placement officer, Lt Col( retd) Jayakumar said, adding that HAL too was slated to visit soon. 

Apart from core engineering companies, that took in as many as 70 percent of students, finance (7-10 percent), PSUs (10 percent) and FMCG (rest) sectors were the other big recruiters. The highest offer, though, came from Tower Research Capital at Rs. 28 lakh per annum. The company has taken in four students. Incidentally, all offers this year have been for Indian postings. The biggest offer last year was from oilfield services provider Schlumberger at Rs. 22 lakh annually for Indian posting and Rs. 44 lakh for overseas.

PSUs took in around 100 candidates - compared to 35 last year and offered annual packages ranging from Rs. 5 to Rs. 7.6 lakh. BHEL alone has offered 20 jobs, making it one of the biggest recruiters, next only to Delloitte which hired 23.

According to Economic Times, while the number of students placed so far, in absolute terms, is similar to that placed last year towards the end of January, average package has gone up 25 percent at around Rs. 8 lakh per annum compared to Rs. 6-7 lakh per annum during the 2008-09 session.