Industry intake of freshers goes down to 150,000 from the current 200,000 and from campus hiring hits a downward trend at engineering colleges and Uncertainties.
Experts suggests that fewer jobs and salary blues are the outcome of the US presidential elections and Brexit along with the increased automation that has cast a shadows over campus recruitment at most engineering colleges.
Offers could dip by another 20 per cent and salary growth would be flat at mid-level engineering colleges such as SRM University, Chennai, VIT, Vellor and Chennai said officials as reported in Business Standard.
Entry level salaries for engineers have remained flat over the past five to six years, hovering around Rs 3 to Rs 3.5 lakh (Rs 300,000 to Rs 350,000).
Placements at engineering institutes will begin around the first week of November, but there is a note of caution in the air.
Recruitments are likely to continue till end-December. The information technology sector accounts for almost 50 to 60 per cent of the jobs offered to graduates on campuses.
Though big recruiters such as Tata Consultancy Services, Infosys and Wipro have promised jobs to large campuses such as Birla Institute of Management and Technology, Greater Noida, and VIT, Vellore and Chennai, the numbers are not yet known.