Financial sector revives, placement up 40pc: IIT-B

Written by: Samyuktha
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Mumbai, Jul 22: The Indian Institute of Technology-Bombay (IIT-B) has seen as 40 per cent jump in campus recruitment for the year 2009-10 in the financial services sector.

IIT-B students have received 70 offers from 11 companies in this sector indicating the revival of the financial services industry which was severely hit by the recession.

"Last year, the numbers were 40 per cent less. Companies were having a difficult time and we saw only one student recruited per company from IIT-B but this year, each company has made 3-4 offers apiece," said Chairman of Placements at the IIT-B, Prof Ravi Sinha.

When asked about the high-risk financial firms' recruiting, the official said, "All of them have recruited from us this year."

Despite the negative connotation to 'financial engineering' in the wake of the economic slump, students continued to opted for the courses, Sinha said.

These jobs involve a high degree of a technology student's core competencies like mathematics, modelling etc, and do not involve marketing or selling, he added.

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