After completing college, the next step in a student’s life is to get a good job and a commensurate salary package. Now, imagine getting an unprecedented deal. A student at a DU college recently experienced just that.
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- Who got the highest package in DU?
- Why is it a big problem?
- What companies came to hire?
- How has the hiring season been for universities and companies this year?
Who got the highest package in DU?
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A final year economics student at Delhi University’s Lady Shri Ram College for Women (LSR), class of 2024, has accepted an offer from a multinational bank for a national position, with an annual remuneration of Rs 48.9 lakh . The student’s name has not been released.
Why is it a big problem?
Given that it occurred amid a market slowdown and macroeconomic challenges, this is a record for the college and likely the university. It is a jump from last year’s Rs 44 lakh package which also went to an LSR student.
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“The financial institution would prefer that her identity not be revealed,” said Kanika K. Ahuja, professor in the department of psychology and coordinator of the placement cell at Lady Shri Ram College for Women.
What companies came to hire?
This year, Boston Consulting Group, LEK Consulting, Bank of America, Kepler Cannon, Hindustan Unilever, Blackstone and BlackRock are among the top campus recruiters. Wells Fargo, Praxis Global Alliance and Blackstone are among the companies that are new recruiters.
Compared to some of the newer Indian Institutes of Technology (IITs), the average salary at the university has risen to Rs 15 lakh from Rs 11.3 lakh a year earlier.
According to university administrators, salary arrangements at other prestigious colleges such as Christ University in Bengaluru, Loyola College in Chennai and Shri Ram College of Commerce (SRCC) in New Delhi remained virtually unchanged from the previous year.
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However, according to university officials, the total placement numbers so far are lower, indicating the slowdown in the job market as many recruiters have reduced their intake.
How has the hiring season been for universities and companies this year?
Several companies that were originally supposed to visit the universities did not do so, according to those familiar with the situation. Most of them are startups and IT companies, which are among the most affected by the lack of funding and general unpredictability in the world.
A representative of the SRCC placement cell stated: “Hiring freeze by companies, technological changes leading to automation, economic crises and certain industry-specific challenges seem to have impacted the hiring rates” .
SRCC received 169 total offers in Phase 1 for the Class of 2024, compared to 222 offers the previous year.
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Source: vtt.edu.vn