How serious are the release dates in the IT Industry? Are they actually able to achieve it or it always shifts?

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Yes ..most of the time it is achieved ..unless there are external dependencies which are beyond control

Fairly subjective. I have worked with teams where we were always 10 days delayed for commited deliveries, at least.
Currently working for a team where each and every release is on time. They work on 2 week sprint and release a week later post demo to clients and feedback fixes. Experienced it first hand for last 2 releases. Also checked their release notes and logs, they haven't missed a single deadline from June'21.
I am still not that involved in day to day. Just an observer for now.
My first manager was very strict with deadlines so eventually my whole team of 8 ppl adapted to plan ahead of time. Sometimes we missed the release by a day or two, but mostly delivered on or before time. Got to learn alot about capacity planning and mitigation of risks with this team.

Depends quite on the work culture too.

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