Only 7% colleges achieve full placement; 60% students prefer job security over hike: Report

NEW DELHI: Only 7 percent of Indian institutes achieved 100% placements, according to a talent report released by the engagement and hiring platform Unstop. The report flagged a pay gap between men and women in arts, science and commerce as it found that men usually get Rs 6-10 lakh salary package on an average while women are offered Rs 2-5 lakh per annum only.

The Unstop Talent Report 2024 is based on responses sought from over 11,000 students, university partners, and human resource practitioners.

Hiring trends, student interests

As per the report, 81% of HR professionals agreed that their organisations are actively hiring. Of the HR practitioners, 88% prefer skill-based hiring, prioritizing abilities of candidates over past experience, academics, references, internships, and projects.

When it comes to students, their mindset has changed, the report found, as 60% prefer job security over salary hike, owing to the fear of layoffs. The in-hand part of the salary is what students value the most, followed by company perks and benefits.

The job interest of students has shifted from startups to established firms, as per the findings. The number of students interested in working with startups has dropped to 10% while 45% of B-school students want to work with established and legacy companies. In a slight contrast, 52% of engineering students are ready to work with any company.

Marketing turned out to be the most preferred domain for management students while arts and science students voted for finance and analytics, the report revealed.

Pay difference, skill gap

Contrary to the pay gap between male and female students in arts and sciences, the engineering school students received the same average package. In B-schools, 55% of men received an offer of over Rs 16 LPA while only 45% of women grabbed that offer.

Another difference was spotted in perceptions of HRs, students, and universities in terms of skills as 66% of HR professionals feel that college curriculum needs to change despite 91% believing it to be adequate.

Medium of placements, dream job

79% of students feel going off-campus for getting jobs among whom 88% of engineering, arts, and science students believe that they can score better. On the other hand, 89% of university partners (training and placement officers) claim students can get placed through competition-led and on-campus opportunities.

38% of HRs chose social media campaigns for brand awareness while 77% of students prefer engaging with the companies through competitions.

Unfortunately, 50% of students think that they will not get a job in their preferred field, as per the report.