The country’s premier engineering institutions are losing their grip on maintaining their top position. The placement of IIT-Mandi dropped from 97% to 83% in one year and many of its graduates have turned down job offers from public sector undertakings (PSUs). Students reason that salary packages offered by PSUs are not good enough. This is a serious situation as the nation’s top engineering institutes have been trendsetters and have always been looked up with admiration.
Job satisfaction for the present youth mostly revolves around high salary packages. Long-term benefits and job stability that most public sector promises are not good enough to attract today’s youth. The tone of high salary expectations is set by the software sector, where the growth rate of companies is far higher than that of PSUs, and the gain is passed on to the employees. The news signals a trend among today’s youth, that is, they are not willing to spend years in a single company. They want to move where the grass is greener.
Changing Student Expectations and the PSU Dilemma
The advent of AI and automation technology has made the job market more volatile. The workforce requirement for most companies is changing as fast as technology. Companies want their workforce to be equipped with the latest technology and in return they are willing to pay them as much as they want. Even though there are still several sectors where human ingenuity is still required and cannot be replaced by AI, technology is still turning out to be a winner. This backdrop emphasises the need for students to equip themselves with adaptable skills that align with the future of work.
The reluctance of graduates from India’s top engineering institutions to join public sector units highlights a shift in the aspirations of students. PSUs are seen as less lucrative by graduates who seek high-paying roles, particularly in the technology sector. Things have moved to the extent that students are even turning down job offers from PSUs. The long-term benefits and stability offered by PSUs are not given as much importance as they are eager to secure high salaries immediately.
Solutions Beyond International Borders
As the domestic placement rates are declining due to global uncertainties and disruption caused by AI, studying overseas can be the way out as it offers access to diverse job markets. Countries like the US, Canada, Australia, and Europe have robust employment opportunities in technology, engineering, and research. This is why these countries have a greater emphasis on STEM education and encourage aspiring international students to pick programmes in this field.
Machine learning, data science, AI, and renewable energy are booming globally. International universities are at the forefront of research and collaboration in these fields and students learn the latest technologies and acquire hands-on experience. Through research collaborations and internship opportunities, students can build global networks and have access to varied employment opportunities.
Graduates from IITs and other reputed institutions save themselves from joining PSUs as it doesn’t match their salary expectations. In contrast, international students will not face such a situation as compensation packages in the US, Canada, and Australia are aligned with the expectations of fresh graduates. Moreover, employment opportunities abroad also include additional perks such as better work-life balance, healthcare, and options for permanent residency.
Cultural Adaptation and Holistic Skill Development
Studying abroad not only provides financial satisfaction and research opportunities but also offers personal growth and development. Foreign universities use advanced teaching methods, problem-solving approaches, and multicultural environments. These experiences are a must-have for any new professional as they make them more adaptable, culturally sensitive, and globally minded. These traits are increasingly being required in today’s interconnected world.
Overseas institutions offer programmes that have a purely technical approach and are better suited to fulfil students’ professional aspirations. Foreign universities have a better understanding of students’ expectations and do not introduce non-technical courses that may result in controversy as was the case with IIT-Mandi. Talk to overseas education consultants in Chandigarh for more information and explore your options to study overseas.
Strategic Choice Based on Goals
Pursuing education overseas has many benefits. High financial rewards are the first choice for most graduates and it serves as the biggest attraction for them when joining a company. Staying in India might be more appropriate for those who aspire to work in the public sector and contribute to the Indian industries. International education can be the stepping stone for those looking for advanced research or global career opportunities.
