: Falling oil prices have hit the campus placement prospects of young talents at the Cochin University of Science and Technology.
No major companies catering to the needs of marine, oil and gas industry have visited the campus this season to recruit students belonging to the final batch of the Department of Ship Technology.
Last year, four out of the about 24 students who sat for the placement drive were recruited by leading companies in the United Arab Emirates. “Shipping and oil companies in the Persian Gulf region are the major recruiters. There had been occasions when about 10 students got jobs in companies across the UAE. It seems they are now resorting to lay-offs in view of the dip in crude oil prices,” said Dr. K Sivaprasad, head of department of Ship Technology.
But there is a silver lining amid the slow hiring by companies in the Gulf. Domestic shipping companies seem to have gradually stepped up recruitment encouraged by the ‘Make in India’ campaign of the Union government. Dr. Sivaprasad said that a Gujarat-based ship building company is expected to recruit three students soon. At least half of the students in the final year batch have got offers from Indian companies and international maritime companies operating in the country, he said.
The highest salary offered to a student selected through campus placement this time is about Rs. 7 lakh per annum. Students are waiting for the representatives of two companies (one in Chennai and the other in Japan) to visit the campus soon. They are likely to offer an impressive Rs. 25 lakh a year pay packet.
Last year, a leading company in London had offered jobs to two students, with a whopping Rs. 40 lakh a year pay packet. Two major companies in Japan had offered about Rs. 30 lakh and Rs. 25 lakh respectively to two students by a leading company in Japan.
