Students are now preferring to work in big corporates over startups

• Around 67% of the students prefer working with large companies having more than 1,000 employers, as per a new Deloitte report.
• Students seem to be more concerned especially after the pandemic when a large number of people were laid off from companies
• And 47% of students say that salaries are the biggest motivator to choose between jobs.

Demand for undergraduates is at an all-time high and employers are looking out for talents around campuses.

However, students are looking out for growth opportunities and fair compensation. Around 67% of the students prefer working with large companies having more than 1,000 employers, as per a new Deloitte’s Campus Workforce Trends report.

And out of those, about 46% of the students specifically desire to work in public sector organisations and units, largely due to the fact that government jobs offer job security. Students seem to be more concerned especially after COVID-19 pandemic when a large number of employees were laid off.

While 26% of the students choose social media influence over corporate jobs, according to the report.

The Deloitte report garnered participation from more than 150 organizations and 250 campuses across industries and tiers of campuses.
Salary is the biggest motivator for students
Around 47% of students say that salaries are the biggest motivator to choose between jobs, says the report.

The pay offered across different specialisations varies based on the demand in each corporate sector.

The information technology (IT) sector is one of the top choices among students as the industry offers the highest payouts and salaries as compared to other sectors.

Data science and artificial intelligence are the highest paying jobs in the IT sector, followed by computer science, as per the report. The engineering specialisation also attracts high pay differentials from the consulting/services industry.

While, students in entrepreneurship and businesses are offered the lowest salaries, followed by FMCG or FMCD industry.
Attrition rates among students
One year attrition is the highest among students from engineering and B.Tech courses and two-year attrition is the highest among candidates from BBA and BMS courses.

However, the attrition rate (between 15-20%) is highest in engineering degrees as compared to last year. The reason behind this is the ongoing supply and demand gap situation in the sector, says the report.

“This pay-driven war for talent is primarily on account of the technology boom, as well as the changing preferences of young talent (flex, hybrid, on-site). One can expect this wave to last a few cycles before a reverse trend starts. While that happens, the pay budgets for fresher/young talent of organisations are expected to swell to near unsustainable levels,” said Neelesh Gupta, director of Deloitte India.
Students are choosing to work in metro cities
The students are preferring to work either in top metropolitan cities like Delhi, Mumbai, and Bangalore or at their home locations.

“In the pre-pandemic world, a fairly limited number of jobs would exist in tier-2/tier-3 locations (except for plants/factories) and negligible in the home location of many students. Post introduction of hybrid/work from anywhere models, this trend is witnessing a surge and is likely to be a game-changer in how work happens/jobs are constructed,” says the report.

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