Such a scenario – an IIT graduate providing training to IITians aspiring for admission to this prestigious institute – works for all parties.
Coaching institutes get qualified teachers who are also marketable. The aspiring engineer and his parents are happy that the training is being imparted by someone who has cracked the entry code. And the IIT graduate, who might have been struggling to find a well-paid job, is happy to have got one.
Narayanan Ramaswamy, partner and head of education and skill development practice at Consulting, said, “In the last five years, the edtech and coaching sector may have hired 3,000-5,000 IITians who are off-campus or with less than five years of work experience ” And audit firm KPMG in India Of course, there are more than 17,700 seats in the 23 IITs of India, and the number of most of them keeps changing every year due to various factors.
peppermint After talking to experts, it was found that EdTech sector offers starting salary to IIT graduates 10-12 lakh per year, with a clear path Package of Rs 60 lakh-1 crore in a few years. Traditional industries don’t offer that much on average. Only a handful of IIT graduates earn salaries exceeding crores, while the average salary in many IITs is much lower.
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“There are IIT graduates who earn 4-7 lakh in campus placements, said Pramod Maheshwari, chairman and managing director of coaching institute Career Point and an IIT Delhi alumnus. “In comparison, one gets Rs 12-13 lakh in a coaching institute. While the last two years have been tough for coaching centres, the demand for IITians as teachers remains high.”
The tough phase that Maheshwari points out includes low attendance of students in coaching centers like Kota (Career Point is headquartered there), as students now prefer to study in branches near their home cities.
“A teacher can earn up to 60 lakh in a few years and the demand is high especially among franchises, where parents want more IIT graduates as teachers in the institutions,” Maheshwari said.
At the same time, KPMG’s Ramaswamy said, “What is not tracked is how many people remain in this industry (coaching) after a few years of teaching? “What career paths have been created for them?”
Of course, some people persist beyond the initial phase. Take, for example, Shlok Srivastava, a 2013 IIT Dhanbad graduate. In 2017, Srivastava, in a desperate attempt to change his job, took a faculty position at K-12 Techno Services, an edtech company that runs the Orchid International chain of schools. Srivastava was working in the mining sector but did not “enjoy” his first job.
Although it was not her dream career, Srivastava found her work “incredibly rewarding”, as students began to understand difficult subjects like science and mathematics in a more engaging way. “After joining the company, I got calls from many IIMs, which I chose to ignore, I also got an interview opportunity with a top consultancy firm, but I ignored that too,” said the 31-year-old. peppermint,
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Srivastava now heads the company’s academic division as vice president. “Out of 100 candidates, around 60-70 are actually interested in work (teaching), while the remaining 30 are mainly focused on finding a job in the beginning,” he said.
K-12 has hired nearly 200 IITians since 2017, offering similar salaries from 7.5 lakhs According to the firm, Rs 12 lakh annually. Most of these recruits are recruited from IIT campuses like IIT Kanpur, IIT (BHU) Varanasi, IIT Dhanbad, IIT Mumbai and IIT Bhubaneswar.
He’s not the only one searching K-12 campuses. peppermint It is learned that ALLEN Career Institute, one of the largest coaching centres, approaches IITs during campus placements. Alan did not answer of mint Question.
Other edtech companies are also hiring IITians as faculty. While Physicswala has hired around 99 IITians, Vedantu has hired around 50 in the last five years, according to the firms.
A spokesperson for Vedantu said the company pays 6-8 lakh per annum (LPA) for freshers, Experienced professionals get 12-25 LPA, and even more 45 LPA for top faculty. While most of its IITian faculty come with prior work experience, the company also recruits fresh students from IIT Delhi, IIT Madras, IIT Kanpur, IIT Patna, IIT Jammu, IIT Bombay, IIT Roorkee, IIT Kharagpur and IIT Hyderabad.
According to the placement head of one of the new IITs, who spoke on condition of anonymity, edtech companies visit the campus regularly. “They pay well and we often see graduates, including those who have done post-graduation, taking up jobs there. However, in many cases this is a stop-gap arrangement of a few years before moving to another company.” However, it should be noted that the profile also includes data analytics in addition to faculty.
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The edtech sector is slowly resuming hiring after significant layoffs in 2022 and 2023, driven by lower demand for online learning and a focus on profitability over growth. However, challenges remain. According to Traxon data, investment in the sector had dropped to just $325 million by September this year, a sharp decline from a peak of $4 billion in 2021, driven by the pandemic-induced shift to home-based learning. Was.
Meanwhile, the time for placements in IITs is coming closer again. While placements have started in the younger IITs, the older IITs will begin their final campus placements from the first week of December.
Of the 23 IITs, the first generation schools—IITs Kharagpur, Madras, Bombay, Delhi, Roorkee and Kanpur—start the placement season in December. Second and third generation IITs along with National Institutes of Technology (NITs) start their placements in August-September.
Business schools or B-schools, including the Indian Institute of Management (IIM), will start placements from February 2025.
