At a time when seven per cent of campuses posted achieving 100 per cent placement, a significant 79 per cent of students feel that better opportunities can come their way off campus. In fact, 88 per cent e-school students, 67 per cent b-school students and 88% arts, science and commerce students share this sentiment.
The truth is, students are not happy with the outcomes of campus placement drives. Recruiters are not happy either. Both feel hiring platforms give better results than campus hiring drives.
On the other hand, most of the university partners (88 per cent) feel that students are placed better via competition-led on-campus opportunities.
If students are dejected that there is no hiring happening right now, they may be mistaken. The reality is that 81 per cent of HR departments are hiring. Only 19 per cent are not hiring right now. As per the survey among the 19 per cent of HRs that are not hiring presently, 11 per cent are not doing so because of a hiring freeze, while eight per cent actually have no vacancies to hire for. A significant 75 per cent have seen no change in hiring volume.
What students and job seekers need to keep in mind is that 88 per cent of HRs prefer skills over experience, academics, or references. Students realise this too.
Interestingly, more than 50 per cent of students surveyed feel they will not land jobs in the field of their preference. Three out of five students choose job security over salary increments.
As per the survey results, maximum hiring is happening in the tech sector. About 25 per cent of e-school students, 62% of b-school students and 26 per cent of arts, science and commerce students already have jobs or have received a job or internship offer. About 35 per cent of these have offers from the tech sector.
When it comes to salaries, b-schoolers are far ahead of e-schoolers with Rs 20 lakh per annum. The average salary of e-schoolers fell to about Rs 6 lakh to to Rs 10 lakh per annum.
While about 46 per cent of postgraduate b-schoolers did not receive any job offers at all, nine per cent received less than Rs 6 lakh per annum average salary, followed by eight per cent with Rs11-15 lakh per annum, eight per cent with Rs 16-20 lakh per annum and 20 per cent with over Rs 20 lakh per annum.
Forty-eight per cent of undergraduate e-schoolers and those from arts and science background received no offers. Twelve per cent received Rs 2 to Rs 5 lakh per annum, while 19 per cent were offered salary in the range of Rs 6 to Rs 10 lakh per annum, 10 per cent received Rs 11to Rs 15 lakh per annum, three per cent were offered Rs 16-18 lakh per annum, and only eight per cent were offered over Rs 18 lakh per annum.
This Talent Report 2024 was based on responses gathered from over 11,000 students, university partners and human resource practitioners. Of the participants of this survey by Unstop— the talent discovery, engagement and hiring platform—60 per cent were men and 40 per cent women. About 44 per cent of the HR practitioners were from the tech sector, followed by 10 per cent from e-commerce and startups, nine per cent from FMCG, eight per cent from BFSI/fintech, eight per cent from manufacturing, seven per cent from healthcare and 14 per cent retail, media, mobility and other sectors.