BITS Pilani logs in Stellar Growth despite Global Slowdown.

The median full-time salary received through summer internship offers also increased by 31.7 from 26.57 lakhs per annum to 35 lakhs per annum this year.Full-time placements started off on a promising note in August 2022 across BITS Pilani, Goa Hyderabad campuses.

The year 2023 has been an exceptionally challenging year for the industry as a whole. The academic year of 2022-23 can be plotted as a sinusoidal curve where the initial part of the season saw a growth in placements followed by a minor dip from January 2023 onwards. With disappointing financial results over the last two quarters and a sluggish US economy resulting in slowing demand and weak growth forecast, many Fortune 500 companies kept their hiring plans on hold and rolled back offers. “However, despite major hiring cuts and strong global headwinds across the industry, BITS Pilani shone through by placing over 3000 students in 2023, building on its strong brand equity and relationships built over the years, said Balasubramanian Gurumurthy, Chief Placement Officer – India & Dubai, BITS Pilani.

On the salary front, highest domestic CTCs reached 70 Lakhs per annum. More than 600 unique students have been placed at salaries above 30 lakhs (excluding international offers), with average salaries for the university at 20.9 lakhs, a growth of 13% over last year where it was 18.48 lakhs. Similarly, the university median salary has seen a growth of 12.5% reaching 18 Lakhs compared to 16 lakhs last year.

The hiring season started with the collection of summer internship pre-placement offers (PPOs) in August 2022. The figures showed 318 students receiving PPOs from firms such as Microsoft, Google, Bloomberg, Uber, DE Shaw, NVIDIA, Samsung, Salesforce and Wells Fargo among others. The highest monthly stipend saw an increase of over 50% as compared to the 2021-22 internship season, from 2 lakhs per month to 3.16 lakhs per month, with the final CTC received from pre-placement offers increasing from 45 lakhs per annum to 60.75 lakhs per annum, an increase of 35%. The median full-time salary received through summer internship offers also increased by 31.7% from 26.57 lakhs per annum to 35 lakhs per annum this year.

Full-time placements started off on a promising note in August 2022 across BITS Pilani, Goa & Hyderabad campuses. Market leaders such as Google, Microsoft, Amazon, Visa, Adobe, Cisco, Uber, Sprinklr and other flagship companies hired aggressively. Some of the new recruiters who visited for full-time hiring in the IT sector were Palo Alto Networks, Komprise, Hilti, ZEE enterprises and Mashreq, with CTCs reaching as high as 54 lakhs per annum. The core manufacturing sector was upbeat with General Electric, Wabtec, Dover, Volvo Commercial Vehicles, Sona Comstar, TATA Technologies and the JK Group hiring across campuses. Newer profiles like Supply Chain Management were in demand with Micron offering 23 Lakhs to students from the manufacturing sector.

The Electronics sector was aggressive with Qualcomm giving more than 100 offers across BITS Pilani, Goa & Hyderabad campuses. Recruiters such as Texas Instruments, AMD, Micron, MediaTek and Western Digital hired in double digits this year across all the three Indian campuses. Intel, Microchip, Cirel Systems, IBM Hardware and Google Hardware were some notable names who visited across campuses. Management consulting roles were the flavor of the season with Boston Consulting Group, Bain & Co and McKinsey & Co offering front-end consulting profiles to the undergraduate students.

Internationally, Philip Capital, an investment and wealth management firm based out of Singapore, gave an offer of 108,000 AED for a role based in Dubai. Some students have also received off-campus international offers from Newman Capital Group Partners & Siemens. Around 574 unique companies have visited & hired across BITS Pilani, Goa & Hyderabad clocking a 15.7% increase over last year. Despite the economic downturn, companies continued to visit BITS Pilani campuses, reposing their faith in the BITS brand as a destination for acquisition of high-end talent. One of the reasons for this sustained hiring is that companies hire from BITS Pilani for niche technology roles such as SDE-2, Product analyst, Data Engineer and Data Scientist as compared to service roles offered at other institutions. BITS Pilani students are adept in emerging technologies like Data Science, AI/ML, Quant-Finance etc. for which there is a high demand in the market, says Balasubramanian Gurumurthy; a key reason for the high acceptance of BITS students in the industry.

(Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.).

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