5:30 AM
Placements at top Indian colleges this year have hit the
headlines for huge offers from MNCs including Google and Facebook and a host of
other large Indian companies. There was also news of Rs 1 crore-plus salary
offers being extended to IIT students.
But the defining trend this year is the unprecedented number
of students who opted to work for startups instead of established companies
during campus placements. According to reports, more than 10% of the 9,000-plus
students who will graduate out of IITs this year are likely to take up
employment in new age companies, mostly startups.
It was mentioned that across India's top engineering and
business school campuses, fresh graduates are keenly seeking the exhilaration
of working in a start-up environment. Across major cities, fresh graduates and
seasoned executives are both showing a remarkable increase in risk appetite,
actively seeking jobs in startups.
Many factors are fuelling this. First, many of them dream of
turning entrepreneurs themselves and see employment in a startup as a first
step in that direction. Second, startups have now begun to offer competitive
salaries — both cash and Esops. Even a year ago, startups were limited in their
ability to pay out cash compensation. But in 2014, venture capital firms
invested about $1.06 billion (Rs 6,600 crore) in over 244 startups, as per
reports.
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