1. Home
  2. India
  3. IITians Refuse To Join Firms Offering

IITians Refuse To Join Firms Offering Bonds

Mumbai, Dec 8 : IITians in Mumbai have refused to join companies offering bonds, says a Times of India report. With the good times rolling back, engineering grads from tech schools want an active lifeline
PTI December 08, 2010 11:25 IST
PTI
Mumbai, Dec 8 : IITians in Mumbai have refused to join companies offering bonds, says a Times of India report.

With the good times rolling back, engineering grads from tech schools want an active lifeline to navigate around the job market.

Companies, in turn, have read the writing on the wall and, at IIT-Bombay, 90% of the recruiters are not insisting that students sign on the dotted line. Similar is the case with organisations, domestic or international, which are participating in the placement season at other IITs. Again, about 70% of the firms recruiting from IIT-Madras expect a mere nod from the grads.

"Most candidates are not signing any bonds. We tell the companies that they need to incentivise students to work for them," said IIT-M academic affairs secretary Anuraag NVS.

Companies were reasoning that students must sign a commitment to stick around in return for the intensive training that firms would put the fresh graduates through. "But most of us on campus look down on an arrangement that holds us back," said an IIT-Kanpur student who is registered for placements this year.

At IIT-Bombay, the process started early in the day: right when firms evinced interest in participating in the campus placements. Companies which insisted on contracts were politely declined. Placement head Ravi Sinha said, "Some of our past students have worked in one company for decades and made their career. I feel it's the fear of not fully understanding where they will be a right fit, that is discouraging students from signing bonds."