Undergrade demand surges amid revival, attrition
There is greater focus on undergraduates this year as the war for talent is intensifying across sectors and companies face record attrition, said people involved in the recruitment process. The reopening of businesses after the more damaging phases of the Covid pandemic is also leading to enhanced requirements, prompting companies to widen the hiring pool.
Placement officials and professors at the country’s leading undergraduate colleges, including Lady Shri Ram College for Women (LSR) and Shri Ram College of Commerce (SRCC) in Delhi, St Xavier‘s College in Mumbai and Loyola College, Chennai, and Christ deemed to be University in Bengaluru said there was an unprecedented race for talent. As companies fought for top slots on campuses, the average compensation rose 20-40% while the number of offers jumped 80-130%.
A final year statistics student from Delhi’s LSR got an offer of ₹40 lakh from a leading global bank for an India position. This is the highest salary ever offered in the college. The highest annual package last year was ₹37.8 lakh. The total number of offers at LSR stands at 231, up from 193 last year. The average package is ₹9.80 lakh versus ₹7.50 lakh a year ago.
“Two years of slow growth and a slowdown in recruitments for some firms due to Covid led to ‘revenge placements’ this year,” said Kanika K Ahuja, an associate professor at the department of psychology and the placement in-charge at LSR.
This placement season saw an unprecedented rush with companies vying for top slots.
“Never in my association of more than 10 years with the placement cell have I attended so many meetings with recruiters,” Ahuja said.
Top recruiters across campuses included McKinsey, Bain, BCG, Meesho, Kearney, Accenture, EY, PWC, Deloitte, AmazonDalberg, Fischer Jordan, Paytm and KPMG among others, according to campus placement cells.
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