IITians get pink slips

IITians get pink slips

By SiliconIndia   |   Thursday, 30 October 2008, 04:15 Hrs   |    9 Comments
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New Delhi: The global meltdown has resulted in many IITians getting the pink slips from national and multi-national companies. Many of them have got regret or denial letters months after their selection to the job.

One of the unfortunate IITian is the 24-year-old Siddharth Arora (name changed).He lost his job last week with a US-based legal process outsourcing company. When he got the confirmation letter for this job 11 months back, he had an attractive salary and an interesting job profile in intellectual property. But today Siddharth, who completed his masters this April, is looking for a job. He is ready to settle for much less (around Rs 4-5 lakh) compared to Rs seven lakh that he got with his first job straight out of the IIT campus. He has already applied to 50 companies and is still awaiting a response.

Siddharth's is not the only case. Around 13 of his colleagues from top four IITs � Kanpur, Kharagpur, Bombay and Madras have also been laid-off.

Earlier, The Times of India has reported that the offers made to 15 students of IIT Kharagpur were cancelled by the U.S. IT firms Montolova, Magma Design Automation and Paradigm. The students were given offer letters during the placements with a package of seven lakh rupees per annum along with incentives and perks.

According to BK Mathur, Chairperson, IIT, Kharagpur- placement cell, some new employers had got in touch with the institute after media reports on regret letters surfaced and have extended job offers to students who have reportedly received such letters.

It was further confirmed that five students from the batch that passed out in April 2008 have faced the brunt of the global meltdown. The laid-off IITians not only lose a job but also have to compromise on various grounds. And this has left them reconsidering their options more carefully.

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Reader's comments(9)
1: A good performer is a good performer and a bad one bad - IIT or no IIT.

A good Physics, Chemistry and Mathematics student can't be guaranteed to be a good one at Computer Science 4 or more years later.

Your command at your skill matters the most.

I do prefer computer science class toppers irrespective of any institute(no extra marks for IIT) when I hire for my product team, in case there are equal performers for the same position.
Posted by:NuSin - 30 Oct, 2008
2: its the individual and not the institute that makes you to survive inthe industry. Like some one said good degrees opens the door, but you need to prove to stay there on top. I had a manger with grad from IIT and PG from IIM but was the biggest dump though he was the head of the entire dept. but i found another manger who was an IITian alone and raised himself to company sr.vice president. he had it within him. also the current situation is like whether you are an asset or an liabilty that decides whether any one will stay or have to leave.
Posted by:Ajith - 30 Oct, 2008
3: Dear Ravi, don't lose your patient and try not to have child like thinking. Many time, what we think is personal incentive with flavor of selfishness. We all are having our own quality and we should try to be happy with it rather than showing other inferior. Ok dear, I think you have understood everything..
Posted by:Gopal Kumar - 29 Oct, 2008
4: yes, it is indeed a big deal to be an IITan for those of u who dont know what it takes to be there .IT is a dream come true for every student .IT is only the frustrated people who couldn't make it to IIT can now underestimate it .My brother is a proud IITan and is doing very good . He is different from the rest of the crowd , i can say that .
Posted by:sadhna - 29 Oct, 2008
5: The report just misleading towards IITians and their image.
Posted by:Ravi - 29 Oct, 2008
6: Sure there is a huge ego boost coming out of IIT, but nature has a way of dealing even hand (fyi, I have no bad feelings towards IITs or their grads). I'm from BITS, Pilani and have worked with IITians at premier companies like Microsoft and Amazon. I've found them no better than me or even many motivated Americans with no CS degrees. I worked with an American colleague who did not even have a CS degree, but was a top performer.

We need to get out of this IIT brand image and understand that a person's value-add is what matters 'Wherever you go, there you are !'
Posted by:Ravi - 29 Oct, 2008
7: I am not sure why is this a big deal to point out IIT students offers are taken back when lot of talented people with years of experience are let go. I don't think any IIT student is more valuable then good experienced employees. BTW i am an IIT alumni. I think reports like this makes IIT students feel they are privileged and above the rest when in reality it is not. Once degree and institute helps you get into the door but one has to prove themselves every year to advance in their careers.
Posted by:Srinivas - 29 Oct, 2008
8: The report is misleading as it does misinterpret a pink slip. In reality, a pink slip is a slang for notice of being fired or laid off from a job. In the present case, the IITians had not even joined the companies. They just had a job offer.

One important fact of the global economy is that economic downturns or meltdowns do not spare any one, no matter if you are from IIT or MIT. Everyone better be prepared to deal with the unknown..........
Posted by:Chandra - 29 Oct, 2008
9: why has the IITians become the target of the slowdown now?
Posted by:della - 29 Oct, 2008