"Case Study Competition Winners Bagged Median CTC Of INR 22 LPA Whereas Non-participants Stayed At INR 13.5 LPA" - Reveals IIT Madras Placement Report

The Fifth Estate (T5E) is the official student media body of IIT Madras. T5E’s Placement survey 2021-22 recorded a total of 326 responses from the entire graduation class (UG + PG). The survey talks about aspects such as Preparation, Opinion, Academics, and Career, relevant to the placement statistics of respondents.

Respondents included various degrees (albeit imbalanced) and departments participating in the internship season. Almost 67% of the respondents were UGs (B.Tech + DD) and the rest were PGs (MSc + M.Tech + MBA + PhD + MS).        

 Also check: Placement prep for engineering grads

A total of 1500 students registered for IIT Madras placements 2021-22. 1316 offers were made by 226 participating recruiters in the first phase including 45 international offers by 14 recruiters and 186 offers by 62 start-ups, as per the reports. The highest CTC stood at INR 70 LPA (Ph.D.) and the average CTC stood at INR 20.58 LPA.

Key highlights of IIT Madras placement survey

• Over 50% of the respondents had prepared for either a coding or analytics profile.
  
  
• 3/4th of the respondents had started their preparation just before the placements.
  
  
• The median CTC of respondents who did not take part in any data science/ML competition stood at INR 17 LPA, while it was INR 21.85 LPA for those who participated in at least one competition and INR 25.75 LPA for those who took part in at least 3 competitions.
  
  
• The respondents who started their preparation a year earlier had a median CTC of INR 22.25 LPA and the ones who started right before the season had a median CTC of INR 18.6 LPA.
  
  
• 85% of the respondents used online materials for preparation, while 45% used coursework.
  
  
• The role of internships in placement preparations was rated highly, at 3.9 out of 5 on an average.
  
  
• 35% of those who prepared for a consulting profile had a case group size of 1, while 50% had a case group size over 3.

Profile

Consulting

Consulting is the third most selected profile. Considering that preparation for this profile involves extensive case prep sessions among students, the survey asked respondents about their case group size. Surprisingly 35% stated that they worked on them by themselves and 50% reported a group size of over 3. 

A correlation between participation in case study competitions and CTC offered was also observed. The median CTC of respondents who had won multiple case study competitions is INR 22 LPA, while it is INR 18.5 LPA for those who participated in at least one competition, and INR 13.5 LPA for those who did not participate in any.

Hear from the winners - How to ace competitions!

Finance 

Finance is considered one of the most important profiles in the non-core sector. Some students possessed certifications in CFA (Chartered Finance Analyst), NCFM (NSE Academy Certification in Financial Markets), FRM (Financial Risk Manager), etc. 

Most respondents said they did not participate in the case study contest, and 10% said they won at least one competition. There is a slight correlation between participation in case study contests and the CTCs offered.

The average CTC for respondents who won multiple case study competitions was recorded at INR 22 LPA, INR 18.5 LPA for those who participated in at least one competition, and INR 16 LPA for those who did not participate at all.

Analytics

This section covers Data science, Business analysis, Machine learning, AI, and Data analysis domains. Machine learning abilities are regularly required to pursue a profession in AI/ML associated fields. This consists of predictive modeling in data science. On average, respondents rated their ML abilities 3.27 out of 5.

Another interesting find was that the median CTC of respondents who did not take part in any data science/ML competition stood at INR 17 LPA, while it was INR 21.85 LPA for those who participated in at least one competition, and INR 25.75 LPA for those who took part in at least 3 competitions.

Demographics, department, and degree

The following graph shows a wide range of demographics of the survey of students with different degrees and majors.

Communication skills

Communication skills are often tested by the interviewers and sometimes become a crucial factor in judging a position. It is observed that the average rating by respondents of their communication skills stands at 4 out of 5.

Given that many students find it difficult to plan for an internship, it is not surprising that about 75% of respondents started preparing just before the internship. Few respondents were able to start preparing one year before the start of the season. Interestingly, the average CTC for respondents who started preparations a year ago was INR 22.25 LPA, and the average CTC for respondents who started just before the season was INR 18.6 LPA.

85% of the respondents used online materials for preparation. Around 45% prepared through coursework, and around 33% used books.

The role of the internship in preparing for the internship was evaluated with an average of 3.9 out of 5 points. Practical exposure and real-time work experience improve critical thinking and productivity, making it easier for respondents to get started in the areas they are preparing.

Frequently discussed questions about the relationship between PoR and mediation usually receive different answers from different aspects. This study was no exception, given that PoR's role was rated on average three out of five. There is a slight negative correlation between PoR and ML roles and programming skills, suggesting that respondents may not be participating in PoR to manage workloads that improve ML and programming skills. 

The Preparatory Survey covered five key areas: coding, analytics, consulting, product management, and finance. The core sector is diverse and has changed significantly from industry to industry and has been excluded.

Coding

More than half of the respondents are preparing programming and analysis profiles, demonstrating their popularity with students. Programming skills are typically tested in preliminary rounds and need to be finalized in subsequent rounds. Interestingly, over 90% of respondents rated programming skills as 3 out of 5. 

There is a strong correlation between respondents' programming skills and the CTCs provided. Both average CTC  and average CTC increase with the score, suggesting that good coding skills can lay the foundation for a better CTC. 

Survey respondents ask which one to use due to the importance of a coding platform for applying coding knowledge through competition coding, projects, and contests that help develop skills to become accustomed to coding tests on the same platform. 

Regarding programming languages, 92% of respondents said they knew Python, 65% knew C ++, and 52% knew C. Almost half of the respondents knew Matlab, SQL, HTML, JS, and Java. Python, an easy-to-code language with a wide range of applications,  was at the top of the list of technical skills for many respondents.

There exists a slight correlation between the ML skills and the CTC offered. The dip at 3, however, is due to the diversity of domains and their requirements – not every analyst requires ML skills for pursuing a career in the analytics sector. Regardless, ML skills can be helpful on the road towards an analytics career.

IT Tools Familiarity

Over 85% of the respondents stated they know machine learning, and 72% stated they know data structures and Algorithms. Half of the respondents were familiar with SQL and Deep learning. Around 95% of the respondents were familiar with MS Excel, while only 25% were familiar with Tableau. A small 10% knew PowerBI and Apache spark.

All the data has been sourced from The Fifth Estate.

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