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Friday, February 02, 2007
THE CLASS of 2007 from India's top engineering campuses has put its going rate at a whopping Rs 6.8 lakh from their dream companies ” a rise of over 15% from the previous year. It's no wonder then that their list of top 10 employers is shorn of everything but consulting and technology majors the biggest paymasters around.
The AC Nielsen Campus Track TSchools 06 survey polled students from the country's 73 leading engineering schools to understand their industries and companies of choice and the reasons behind these choices.
“The increase in expectations is significantly higher than last year when we saw an increase of about 10% in the average salary expectation,said Mr Prasenjit Das, associate director, AC Nielsen. What is interesting is that while the increase in average salary expectation is about 15% for dream companies, it's as high as 25% for other companies, he added. A key reason for the rise in expectations is the overall buoyancy in the economy. Companies too have been offering students high entry-level packages, adding to expectations . The top 10 list of the 05 batch included a wider spectrum IT/consulting , FMCG and core sector companies ;06 had IT/consulting and FMCG; and finally the 07 batch has only IT/consulting firms in the top 10 list.
So, the shift in perception as ˜Dream Recruiter' has narrowed down to only IT/consulting over the years,notes the report. That's bad news piled on bad news for industries like manufacturing, engineering, construction, electrical and others, which have long complained of acute manpower shortages. One of the biggest constraints in recruitment and retention for these industries has been their inability to match the salary levels offered by IT firms. Today, every engineering industry needs 25% more engineers than it presently has, said Mr Ajay Dhagat, president of IEEMA. Mr Dhagat is MD of energy transmission and distribution company Areva. He also pointed to the trickle-down effect, saying that with the software industry poaching, brick and mortar companies were forced to poach from SMEs, who suffer the most. Such problems are only likely to worsen.
The AC Nielsen Campus Track TSchools 06 survey polled students from the country's 73 leading engineering schools to understand their industries and companies of choice and the reasons behind these choices.
“The increase in expectations is significantly higher than last year when we saw an increase of about 10% in the average salary expectation,said Mr Prasenjit Das, associate director, AC Nielsen. What is interesting is that while the increase in average salary expectation is about 15% for dream companies, it's as high as 25% for other companies, he added. A key reason for the rise in expectations is the overall buoyancy in the economy. Companies too have been offering students high entry-level packages, adding to expectations . The top 10 list of the 05 batch included a wider spectrum IT/consulting , FMCG and core sector companies ;06 had IT/consulting and FMCG; and finally the 07 batch has only IT/consulting firms in the top 10 list.
So, the shift in perception as ˜Dream Recruiter' has narrowed down to only IT/consulting over the years,notes the report. That's bad news piled on bad news for industries like manufacturing, engineering, construction, electrical and others, which have long complained of acute manpower shortages. One of the biggest constraints in recruitment and retention for these industries has been their inability to match the salary levels offered by IT firms. Today, every engineering industry needs 25% more engineers than it presently has, said Mr Ajay Dhagat, president of IEEMA. Mr Dhagat is MD of energy transmission and distribution company Areva. He also pointed to the trickle-down effect, saying that with the software industry poaching, brick and mortar companies were forced to poach from SMEs, who suffer the most. Such problems are only likely to worsen.
