For IITians today, home is where the moolah is
‘One leg of an IITian is in India , the other in Air India’ went a popular wisecrack of the late 1980s and early ‘90s. No longer, however. The brain drain from the IITs has diminished to a trickle, with only 21 out of 3,980 BTech graduates going a...
By Hemali Chhapia, TNN |
MUMBAI: ‘One leg of an IITian is in India , the other in Air India’ went a popular wisecrack of the late 1980s and early ‘90s. No longer, however. The brain drain from the IITs has diminished to a trickle, with only 21 out of 3,980 BTech graduates going abroad in 2006.
About two decades ago, over 80% of IITians hopped onto a plane for foreign shores, the preferred destination being the US. The ‘IIT route’ was a BTech from IIT, an MS (Masters) from the US and a dollar job. Much has changed since then, and the brains that used to be siphoned off by the developed nations are now staying home (see box).
About two decades ago, over 80% of IITians hopped onto a plane for foreign shores, the preferred destination being the US. The ‘IIT route’ was a BTech from IIT, an MS (Masters) from the US and a dollar job. Much has changed since then, and the brains that used to be siphoned off by the developed nations are now staying home (see box).
| 2006: YEAR TO THE GROUND In IIT-Bombay, 95% of the students got placed in India last year. In IIT-Kanpur, of 270 BTech grads, 3 went abroad, of 267 MTechs, none. Only one of the 34 holding a dual degree chose to wing overseas. In IIT- Madras, only two students from the BTech batch went out to join Lehman Brothers in Tokyo. All IIT-Guwahati grads were placed in India. IIT-Kharagpur does not allow foreign companies on campus. |
In the early ‘90s, the outflow of computer science graduates to the US was so high that the World Bank, in a report, had suggested that an exit tax be imposed on IITians and other professionals leaving the country—this , it said, could earn the government over $1 billion (about Rs 4,400 crore) per annum. Had the government decided to adopt this, it would today earn only crumbs.
A quick look at statistics shows that in 2006, only three of IIT Kanpur’s 273 BTech students and two from the fiveyear MSc integrated course went abroad. All others—267 MTech students, two-year MSc grads and MBAs—stayed back in the country. At IIT Delhi, of the approximate 1,000 job-seekers , only one student went abroad to join CapitalOne, a financial consulting firm.
The slowdown is evident even at the older IITs. At IIT Mumbai, 95% of the students were placed in India while at IIT Madras, only two BTech students went on to join Lehman Brothers in the Tokyo office. “There was a time when I had to set aside days to write recommendation letters for students wanting to go abroad, either to study or work,’’ says Ashok Misra, IIT-B director. “Now, because good jobs are available to BTech students, not many opt for post-graduate courses abroad. Only about 15% students go overseas for higher studies and approximately 5% take a job outside India.’’
Ratnajit Bhattacharjee, faculty incharge (training and placement) of IIT Guwahati, says that corporate giants still opt for IITians but prefer to recruit for their India operations.
A quick look at statistics shows that in 2006, only three of IIT Kanpur’s 273 BTech students and two from the fiveyear MSc integrated course went abroad. All others—267 MTech students, two-year MSc grads and MBAs—stayed back in the country. At IIT Delhi, of the approximate 1,000 job-seekers , only one student went abroad to join CapitalOne, a financial consulting firm.
The slowdown is evident even at the older IITs. At IIT Mumbai, 95% of the students were placed in India while at IIT Madras, only two BTech students went on to join Lehman Brothers in the Tokyo office. “There was a time when I had to set aside days to write recommendation letters for students wanting to go abroad, either to study or work,’’ says Ashok Misra, IIT-B director. “Now, because good jobs are available to BTech students, not many opt for post-graduate courses abroad. Only about 15% students go overseas for higher studies and approximately 5% take a job outside India.’’
Ratnajit Bhattacharjee, faculty incharge (training and placement) of IIT Guwahati, says that corporate giants still opt for IITians but prefer to recruit for their India operations.
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