This paper assesses students' perceptions concerning the level of campus placement activities of their higher education institution (HEI) and determines the order of importance of various factors, as perceived by students, relating to employers' selection criteria. Primary data based on the responses of 621 students in 29 HEIs operating in the National Capital Region of India, were analysed using statistical tools such as average, t-test and Garrett Ranking. The t-test results indicated that students' perceptions across the five demographics under study were significantly different. Further, the Garrett Ranking method revealed that students perceived performance in the interview as the most important factor affecting their selection or rejection by employers during campus placements. The findings should assist educational institutions in formulating an effective campus placement process and students in preparing for their transition to the labor market. Moreover, companies engaging in campus placements will obtain a better understanding of students' perceptions regarding their hiring decisions. The major implication of the study is that the gap in perception between students and employers needs to be bridged through collaboration between HEIs and industry.