Rise in average salary but fewer students placed during IIT Bombay final placements
IIT Bombay has completed final placements with an average annual package of Rs 23.5 lakh, a 7.8% jump from last year’s average of Rs 21.8 lakh but fewer students compared to last year have landed jobs during the process, a report released by the institute has revealed.
In one of the most challenging years for placements to date, about 74.5% of the 1979 students who actively participated in the campus drive have got jobs, with 1475 job offers accepted. This is compared to about 82% last year when 1845 students actively participated and 1516 job offers were accepted. This is despite 364 companies making offers, compared to 324 last year.
Seventy-eight international offers were accepted in both Phases of the IIT Bombay placements 2023 — 24, while 22 offers of above Rs 1 crore per year were accepted during this drive, according to data from the institute. Around 206 students received salaries of less than Rs 10 lakh.
The international offers were rolled out by different firms based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong, increasing in number from 65 in the previous year. Due to the war in Ukraine and the subdued global economy, there were fewer international recruiters, the institute said.
Among the domestic offers, 775 students were placed in multinationals, and 622 in Indian companies.
The Engineering and Technology sector recruited the highest numbers of students. In various engineering domains, 430 students were selected in 106 core engineering companies at entry-level
