Startups, e-commerce firms step up campus hiring at IITs
MUMBAI/NEW DELHI: Recessionary clouds have not deterred startups and e-commerce companies from making a beeline for Indian Institute of Technology (IIT) campuses and offer annual pay packages of ₹15-35 lakh, mainly to expand their teams, despite competition from consulting and high frequency trading companies, said industry observers.
“We are engaging with colleges for campus hiring for roles such as supply chain analytics, and product and business development. We are also visiting business schools and engineering campuses across the country, including IIT Bombay, Delhi, Madras, Kanpur, BHU (Varanasi), Roorkee, Hyderabad and Guwahati,” said a Flipkart spokesperson in response to queries.
Placement teams at IITs said
Flipkart is offering data science and product manager jobs for ₹26-33 lakh.
About 78 startups have registered to recruit candidates from the batch of 2023, according to IIT Guwahati.
Spacetech startup Agnikul, electric vehicle maker Ather Energy, artificial intelligence platform Abacus AI, and fintech
firm Razorpay have registered for phase-I of the placement season that began on Thursday, according to IIT Madras.
Food delivery company Zomato, fintech platforms Navi, Slice, Zupee and Groww, and social commerce platform Meesho have also reached out to IITs for hiring.
Tiger Global-backed fintech
Jar is visiting IIT BHU for its first campus placement. Jar is offering ₹15-20 lakh salaries, along with relocation benefits.
“Freshers choosing to join a startup like ours, already have made the decision of choosing a path of growth led by ownership. So, mostly, we have healthy competition with fellow startups,” said Jar co-founder and chief executive officer Nishchay AG.
For some startups and e-commerce firms, recruiting from IITs is just the beginning of their expansion plans.
“We primarily look at IITians across roles, such as marketing and operations managers. As we continue to scale further, we will look at hiring more talent from leading engineering colleges like I I Ts for our global development centre located in Hyderabad,” said Kumar Shekhar, deputy country manager, Tide India.
IIT Bombay is also hosting Bengaluru-based Assiduus
E-commerce Accelerator for campus placements, which raised over $15 million in October and is offering ₹1 lakh a month to freshers—more than double the salary it offered last time. It is looking for tech analysts and developers. “We are growing our business in the Middle East region and Europe. We are offering jobs in Dubai and London,” said Somdutta Singh, founder and CEO, Assiduus, adding that IITs offer the best talent and marquee names to associate with.
Some top recruiters are, however, expected to skip the placement season at I I Ts d u e to a funding crunch amid a looming global recession. In fact, the startup sector has laid off about 20,000 employees in the past year.
Edtech giant Byju’s may not be visiting IITs this time around as it is focusing on hiring for its sales team, a person in the know said seeking anonymity. Byju’s didn’t respond to queries.