In a nutshell, they depend on both. Companies prefer colleges with a good track record and often re-visit colleges whose students have done well in their company. But the selection of a student depends on the student themselves rather than on a college. For instance, I graduated from BITS Pilani and there were numerous great companies for placements. However the ability to compete with other people who applied for the same job was something that was dependant on me. It is precisely this reason why making a good brand out of a new college is a difficult task unless the college has spent a lot of money on the right things like infrastructure, industry tie ups, project and research activity and so on. A lot of premium colleges spend a lot of their time and money on these and hence attract the best companies for placement season. However the students who get selected finally are the ones who manage to crack the recruitment process for that company.

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