IIT-Bombay minimum salary package drops to Rs 4 lakh during placement
average annual package of Rs 23.5 lakh, a slight increase from last year's Rs 21.8 lakh. However, the packages offered were as low as Rs 4 lakh per annum, raising further concerns in the education industry.
Ten students accepted job offers in the range of Rs 4 lakh to Rs 6 lakh per annum.
Despite the 7.7 per cent rise in average compensation, fewer students were placed through the campus drive compared to the previous year, as per a report by the premiere institute. Further, the placement percentage recorded for the said year is not more than 75 per cent.
A total of 558 offers from 123 companies were for gross compensation packages exceeding Rs 20 lakh per annum. Another 230 offers ranged between Rs 16.75 lakh and Rs 20 lakh per annum.
«This year, we saw a 12 per cent increase in companies recruited from IIT Bombay. 78 international offers were accepted in both Phases of the IIT Bombay Placements for A.Y. 2023 — 24, while 22 offers of above Rs 1 crore per year were accepted during this drive,» stated the report.
As many as 775 students secured placements in multinational corporations in India, and 622 were placed in Indian firms.
The second phase of the placement season started slow but gained momentum after April. As per a report by Times of India, around 300 job offers were received during this phase.
«We received 300-odd job offers in Phase 2. Also, while 75% of students were placed through the campus drive, another 15% of students found jobs on their own,» said a source to TOI.
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