Some companies are yet to onboard students from the previous batch, others are not visiting campuses or are revising salaries downward. The situation is expected to continue for the next few months at least, putting students in a tight spot, though colleges have tried broadbasing the recruiter pool to ensure minimal impact on placements.
A leading tech college told ET that Wipro is yet to give joining dates to some students from the Batch of 2022 who were supposed to have started working last year. The institute says it took no initiative to call the firm this year but is now in discussions with it after the company reached out. The placement head said that students with fewer options will look at its offers.
In another instance, a mid-tier IT company visiting a different south-based engineering college, revised its promised salary package downward once the interviews were over. The students selected accepted the lower offers given the tight job market.
But when the same company opened up a second profile, no one else from the batch applied.
“There is some pullback because of the slowdown in markets such as the US. Companies are coming but numbers are affected,” said Rajesh Rohilla, head, training and placement at Delhi Technological University.
“There has been an up to 50% drop in some cases. But some startups, new software companies are making up for it. If a particular company does not honour selections, they will be given less priority. But we do understand that this is a situation which cannot be helped,” said Rohilla.
Harpreet Singh Saluja, president, Nascent Information Technology Employees Senate, an organisation representing IT workers, said it is a chaotic situation for students.
“Even last year, Wipro, Infosys, and Capgemini gave offer letters but did not honour them completely. This will continue for another six months at least until the situation in the US gets back on track,” he said.
This placement season, non-IT firms are filling in the gap due to the dip in offers on engineering campuses from the traditional top recruiters among sectors, Anjani Kumar Bhatnagar, deputy director, Amity Technical Placement Centre, told ET.