Dispelling the notion of automatic wealth upon graduation from the prestigious Indian Institutes of Technology (IITs), Indian Forest Service (IFS) officer Gaurav Garg recently took to social media to debunk common myths surrounding IIT placements with a keen eye on the ground realities. Through his post, he highlighted four crucial points, shedding light on the true nature of employment prospects at these premier institutions.
Let us have a look at them:
Despite what many people think, IIT fresh graduates receive very different remuneration packages; they might range from ₹6 lakh to ₹35 lakh. While professions like computer science, electronics, and communication engineering tend to earn larger salaries, the figures rarely reach the elusive crore threshold.
Garg underlined that a significant number of the high-paying job offers, sometimes advertised in crores, come from international firms based in the United States, Singapore, and other foreign countries. These lucrative jobs mainly consist of coding positions with tech behemoths like Google, Facebook, and others.
Furthermore, Garg explained the complexities of these remuneration packages, pointing out that they may include extra components such as Employee Stock Ownership Plans (ESOPs) and staggered payments spread over multiple years. He emphasized that the actual take-home salary could be only a fraction—approximately 40-50%—of the advertised Cost to Company (CTC).
He stressed that understanding the nuances of various wage arrangements is critical for graduates seeking to make educated decisions regarding their future careers.
Garg also emphasized that, whereas computer science graduates frequently receive astounding packages, the average annual income for students from other areas is typically between Rs 10 and 12 lakh. Mechanical and Civil Engineering, considered core disciplines, frequently have lower placement rates.
In short, Garg’s views serve as a reality check, reminding aspiring students and job seekers that an IIT degree does not guarantee immediate wealth but necessitates a profound grasp of the labor market and compensation structures to make intelligent career decisions.
What are your views? Is an IIT Degree really a ticket to becoming a millionaire or just a myth?
