IIT Madras registers 13 per cent job offers from start-ups

In the first phase of the placement season till December 19, 295 companies have offered jobs to 880 students, compared to 263 companies which offered jobs to 905 students during the entire placement season ending April 30, 2014.
The booming placement season has begun with the humungous pay packages from top companies and that’s what making headlines every day. The start-up brigade is also not far behind. It has been reported that the start-ups have hired 114 of the 880 students – or 13 per cent – placed at the Indian Institute of Technology, Madras at the end of the first phase of placement.
According to reports, among the start-ups that made job offers were Ola Cabs (29 offers), Flipkart (19) – behind only information technology giant Cognizant Technology’s 36 offers – and Urban Ladder (13). Housing.com made 11 offers and Snapdeal.com over six. However, how many of the last two companies’ offers were accepted wasn’t clear.
Babu Viswanathan, professor, mechanical engineering and advisor, training and placement, IIT- Madras was quoted as saying “This year, around 65 start-ups participated in the placement, and offered a total of 122 jobs. The number of offers accepted out of this was 114.”
As per reports, the start-ups on average offered Rs 10-20 lakh per annum as salary, which is competitive in the market, and students were also keen to take up the offers, since visibility in start-ups is higher right from early on. Last year, only three-to-five start-ups had participated in the placement process.

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