PPOs To The Rescue Amidst Fear Of Layoffs

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PPOs To The Rescue Amidst Fear Of Layoffs

Every year, IITs see a placement streak with offers through the roof. These renowned institutions attract corporate giants to pick out the best candidates year after year. Owing to their extravagant academic background, these candidates are often ambitious in their approach and nit-pick the companies during their campus placements.

However, this time these tech talents seem to be playing safe and settling for what’s at hand— pre-placement offers. Candidates from all IITs accepting PPOs, considering it a better alternative, given the uncertainties surrounding global prospects, the shakiness of Big Tech in the US, and the approaching threat of a recession. Most technical colleges have seen a surge in PPOs from businesses, and pay has skyrocketed compared to the prior year, making it impossible for the candidates to let the offer slip by.

Fear-mongering or planning for hard times?

But it is no secret that this haste is the result of a fear set in among candidates— wherein companies weather the storm of economic turbulence by letting the tech talents take the hit first. Recently, the tech industry saw a string of layoffs which still continues. The round-up of these layoffs makes the future less promising for these tech minds.

For many, these PPOs are a jackpot amidst uncertainties. The overview of the pre-placement offers and the acceptance rate suggests the same. There is a reduced dependence on final placements as the numbers of PPOs post internships soared. IIT-Bombay received 300 PPOs, of which, students have accepted 217.

IIT Madras received 333 PPOs and counting, which is 44% higher than last year, when 231 PPOs were offered, out of which 178 were taken on. The core engineering space and R&D have accounted for 44% of the total PPOs at IIM Madras.

IIT Guwahati has witnessed a rise in the hiring trend, especially for technical roles with more companies giving PPOs through internships, 218 being the highest. INR 1.20 crores were the highest PPO received this year as compared to INR 56 lakhs last year. Microsoft offered 26 PPOs, followed by Oracle, 20.

IIT Mandi received an international offer, while Uber offered the highest package in the PPOs.

While on one hand, the slashing of jobs continues, on the other, these PPOs are serving as a respite to budding tech talents. The PPO acceptance rate might see a steep rise in the future. All we can do is wait and watch, and hope for the big tech game to stabilize itself.