IITians rejects placements for start-ups, civil service exams

Mumbai: Many IIT students chose not to take the placement examinations in order to launch their own businesses. One of them is Nikhil Pai, an IIT Madras chemical engineer, chose to work for a newly founded company as he wanted to work for a business with 10 to 15 employees that is focused on social innovation.

According to sources, Pai is one of the growing numbers of graduates from Indian Institute of Technology (IIT) who had opted out of the placement process in order to sit for the civil service examinations. Placement teams were surprised as this came in the midst of fears of a global recession.

Nikhil Pai further stated that,” My family was initially worried, but I did not take this step in haste. I had decided at the end of my second year that I want to be a part of business development and learn where the revenue come in from the start.”

Reportedly, in the batch of Nikhil Pai many of his classmates have also chosen not to participate in the placement process in order to pursue higher education or to have their own start-ups. Ten students among them chose the institute’s deferred placement option in order to launch their own business after graduating.

According to the college’s placement report, as of 15 December, students who chose the deferred placement option may use placement services once within two years of electing this option.

According to reports, the IITs had already started their hiring season from December 01 with offers of wages above $1 crore yearly from a number of high-frequency trading (HFT) businesses. In some of the newer IITs many students have opted for deferred placement. Placement agencies claimed that they double-check before approving a deferred placement proposal. The IITs placements will continue till April-May.