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Only 7% colleges achieve full campus placement: Survey
- Enduring pay gap: In Arts, Science & Commerce, the most common offer for men was INR 6-10 LPA and for women was 2-5 LPA
- Engaging with talent: 38 per cent of HRs chose social media campaigns for brand awareness while 77 per cent of students prefer engaging via competitions
- Right skill set: Over 88 per cent of HR’s prefer skills over experience, academics, or references. Students echo the sentiment
- Show me the money job security: 3 out of 5 students choose job security overpay hikes
Bangalore: Only 7 percent of higher educational institutes in India have been able to manage 100 percent placement, a report by hiring platform Unstop.
The Unstop Talent Report 2024, drawn up after surveying more than 11,000 students, colleges and recruiters, said that more than 50 percent of the students don't expect to find a job in their preferred field.
A high majority (81%) of HR professionals agreed that their organisations are actively hiring, highlighting the robust demand for talent across industries. Interestingly, 88% of HR practitioners expressed a strong preference for skill-based hiring, prioritizing candidates' abilities over other factors such as past experience, academics, references, internships, and projects.
Notably, the looming fear of layoffs has prompted three out of five (60%) students to prioritise job security over pay hikes, a stark shift in mindset. For most of them, in-hand salary remained the most valuable salary component, followed by perks and benefits.
IT also delved into the college/university landscape. It revealed a drop from the previous year to 10% of students interested in working for startups, with 45% of B-school students preferring established and legacy firms. In comparison, 52% of engineering students expressed openness to working with any company. Further, marketing emerged as the top preferred domain for B-school students, while Finance and Analytics topped the list for Arts and Science students.
In E-Schools most men and women received the same average offer, but there was a stark difference among Arts and Science students. Here, most of the men received an offer of INR 6-10 LPA. Most women, however, received an offer of INR 2-5 LPA - half of the offer bagged by male students. In B-School, 55% of men received an offer of over INR 16 LPA, but only 45% of women received an offer above INR 16 LPA.
Finally, coming to the perceptions of recruiters, university partners (Training and Placement Officers) and students, the report revealed a notable disconnect between the parties. While 91% of students believe their college curricula offer an adequate level of preparedness for a job, 66% of recruiters and 42% of university partners feel the skill gap and lack of preparation, respectively, are major challenges in campus recruitment.
Ankit Aggarwal, Founder and CEO of Unstop, said, “By highlighting the preferences and concerns of students and HR professionals, we aim to bridge the gap between talent supply and demand, enabling more informed decision-making and fostering a more efficient and effective hiring process.”
