I want to do an MTech in mechanical engineering, but I have heard an MTech at the IITs is filled with students from ordinary colleges and the package is not great either. What should I do?

I guess by ordinary colleges you mean they haven’t done there bachelor’s from IIT.

And those people whom you called ordinary are there because of there extraordinary performance and they are more concerned about learning than on placement’s.

So if you want to go for IIT only for placements then please don’t spoil the culture there.