What is the Average Package for Chemical Engineers Graduated from IITs?
India's premier technological institutes, the Indian Institutes of Technology (IITs), are renowned for their robust academic programs and high placement rates. Among the diverse fields of engineering, chemical engineering holds a significant position, particularly within the IIT framework. This article delves into the average package received by chemical engineers after graduating from IITs, with a focus on IIT Bombay and IIT Bhubaneswar (IITBHU).
Placement Statistics
The placement statistics for chemical engineering graduates from IITs demonstrate a commendable success rate. According to reports, the placement percentage for chemical engineering students from IIT Bombay is consistently high, often exceeding 80% for several years. For instance, in 2016, the placement percentage was around 80%, while in 2018, over 85% of students found employment. The average salary package offered in non-core companies during these years was approximately Rs. 12 LPA (Lakhs Per Annum).
IIT Bhubaneswar (IITBHU), being another prestigious IIT, also shows impressive placement statistics. For the academic years 2018–19 and 2019–20, the placement rate was notably high, with almost all students finding placements. The 2018–19 placement data revealed that the highest package was 31 LPA, with an average of around 12 LPA. However, it's essential to note that while the non-core sector offers lower packages, there are specific opportunities such as Hindustan Unilever Limited (HUL), which provides 24 LPA to a select few meritorious students.
In the 2019–20 phase-1 placements, the average package for chemical engineering students was 14.6 LPA, with the highest package reported at 37 LPA. Many students opted for software development profiles, and it is possible for them to secure packages well above 20 LPA in this sector. For job opportunities in the core sector, the average salary package was around 9 LPA, reflecting a distinct difference between core and non-core employment opportunities.
Industry and Placement Trends
The placement trends indicate that the chemical engineering industry in India presents a mixed picture. While there is a significant demand for chemical engineers, particularly in core sector jobs, the overall market dynamics are influenced by factors such as economic conditions, student preferences, and company profiles. It is important to note that the chemical engineering job market in India is relatively small, with less than 50 highly qualified chemical engineering degree holders being hired each year.
According to some estimates, a majority of chemical engineering graduates opt for non-core sectors such as software development, where they can command higher salaries but may lack industry-specific experience. Furthermore, the traditional mindset prevails, with companies being more interested in technical skills and coding proficiency rather than academic credentials. This trend can be illustrated by the contrast between computer engineers, who can earn 5-50 LPA based on their skills, and chemical engineers, who often rely on their academic performance and luck to secure core sector jobs, which may offer 5-15 LPA annually.
Industry Challenges and Future Prospects
The landscape of Indian chemical engineering is characterized by certain challenges and limitations. For instance, the lack of private chemical engineering companies and the outdated curriculum highlight the need for a more modern and industry-focused approach. The chemical engineering curriculum in India is approximately 40 years old, which is significantly behind global standards. Therefore, integrating technology-driven and research-based approaches would be beneficial.
The ongoing impact of the COVID-19 pandemic may lead to a decline in the placement rates. However, as of now, the placement records for chemical engineering students from IITs remain strong. The future of the chemical engineering industry in India depends on several factors, including government policies, industry collaboration with educational institutions, and the evolution of global market trends.
For chemical engineers looking to enhance their career prospects, continuous learning, skill development, and industry internships can be highly beneficial. They should also seek opportunities in fields such as process optimization, environmental engineering, and materials science, which are increasingly in demand.
Conclusion
In summary, the average package for chemical engineers graduating from IITs varies based on sector and individual aptitude. Non-core sectors like software development offer competitive salaries, while core sectors remain more challenging. The chemical engineering industry in India has potential for growth, but it requires a more forward-thinking approach to curriculum and industry practices.
As you navigate your career in chemical engineering, understanding the placement landscape and leveraging available resources can help you secure a rewarding career. Keep an eye on industry trends, hone your skills, and align your aspirations with the evolving demands of the chemical engineering sector.