The graduating class of 2024 is undoubtedly gearing up for what could potentially be one of the most challenging placement seasons in recent memory. This year has seen a significant departure from the norm, as numerous IT/ITeS (Information Technology/Information Technology-enabled Services) companies, which traditionally recruit a substantial portion of students, have either maintained a cautious distance from the hiring process or opted to defer their recruitment plans, as reported by the Economic Times.
What sets this situation apart is its far-reaching impact, particularly on students hailing from government and private colleges in tier-2 and tier-3 cities across India. According to placement officials in states like Karnataka, Kerala, Tamil Nadu, and Rajasthan, these regions are expected to bear the brunt of the industry’s reticence. Typically, these areas rely heavily on IT/ITeS firms for job placements, with a staggering 30-50% of offers stemming from this sector. As the future unfolds, the resilience and adaptability of these aspiring graduates will undoubtedly be put to the test, as they navigate an uncertain job market landscape.
According to a recent report from the Economic Times, notable IT giants such as Tata Consultancy Services (TCS) and Cognizant have conspicuously been absent from the recruitment scene at Government Engineering College, Thrissur, in the current year. This stands in stark contrast to the previous year, 2023, when the college managed to secure nearly 570 job offers for its students. The disparity becomes even more apparent when compared to the class of 2022, which witnessed an impressive tally of over 770 placement offers.
The college’s Training and Placement Officer, Subin Poulose, expressed his concerns to the Economic Times, acknowledging that the institution is bracing for a substantial decline in job offers. Poulose anticipates a potential drop of 20% or more in the number of offers extended to the graduating class of 2024. This shift in fortunes has raised apprehensions among both students and faculty, as the college grapples with the challenges posed by a notably muted job market.
Meanwhile, IT recruiters have cited several reasons for their reduced hiring numbers, including project cancellations and an uncertain demand environment. These factors have compelled them to exercise caution in their recruitment efforts, resulting in the subdued recruitment figures observed this year. While the typical placement season at most colleges commences by August, this year’s schedule has been marred by delays. Nonetheless, placement officials remain optimistic, holding out hope that recruiters will eventually make their way to the college campuses towards the tail end of the placement season, providing a glimmer of hope for the graduating class of 2024.
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