Here's why 38% of IIT graduates are unemployed

In India, when young students are asked about their career goals, many aim to become doctors, engineers, chartered accountants, or aspire to join the IAS or IPS. Every year, thousands of students prepare for the IIT-Joint Entrance Examination (JEE) in hopes of studying at the prestigious Indian Institutes of Technology (IITs). The allure of these institutions lies in the belief that IIT graduates are set for successful careers, often with high-paying job offers from top companies that visit the campuses for recruitment.

However, in recent years, the job placement trends at these institutions have started to show worrying signs. According to placement reports, around 38% of students from IITs and NITs did not secure any job offers during campus placement drives this year. For example, out of 24,230 students, approximately 8,000 failed to land jobs. Since 2022, many IIT graduates are still without jobs, with around 321 in 2022 and 172 in 2023 still jobless. Additionally, the average salary offered to final-year students in pre-placement offers has dropped from Rs 25 lakh per annum to Rs 16 lakh per annum, with the lowest offer being Rs 4.20 lakh per annum.

Several factors have contributed to this shift. One major influence is the global geopolitical and economic situation. Ongoing conflicts around the world, such as those involving Russia, Ukraine, Israel, and the Middle East, have disrupted international trade and business. As a result, many companies have reduced hiring or offered lower salaries due to financial pressures. Industries like IT, travel, and tourism have been particularly affected, leading to fewer job opportunities for fresh graduates.

Another challenge is the rise of automation and artificial intelligence (AI). With AI technologies increasingly handling tasks that were once performed by engineers, companies are reducing their dependence on human resources. Bill Gates has even predicted that IT companies will soon hire fewer engineers, as AI will take over roles like software development and testing. Companies like SpaceX and Tesla are already using robots in manufacturing, minimizing their need for human workers. This shift in technology has had a direct impact on the job market for engineering graduates, especially in IT and manufacturing sectors.

The outdated curriculum in many colleges also contributes to the rising unemployment among graduates. Many institutes have not updated their courses to keep pace with technological advancements, leaving students ill-prepared for the changing demands of the job market. To stay competitive, students need to focus on acquiring new skills, especially in fields like AI, machine learning, and automation.

So, what can students do to secure better job opportunities? The focus should be on upskilling and adapting to new technologies. Institutes must update their curriculum to include these new fields, and students should take initiative to learn about emerging technologies. Additionally, aspiring engineers should consider exploring entrepreneurship and start-up opportunities, as this can offer a path to success even in challenging times. The government also plays a crucial role by providing support to young entrepreneurs through funding and training programs.

In conclusion, while global challenges like political conflicts and technological disruptions are beyond students’ control, there are ways to adapt and thrive. A supportive educational environment, updated curricula, and an entrepreneurial mindset can help students overcome these challenges and remain competitive on the global stage.