IIT Bombay Placement Report: Minimum Salary Drops to Rs 4 Lakh Amid Rising Average Package and International Offers
The Indian Institute of Technology (IIT) Bombay witnessed a noticeable drop in its minimum salary package during the latest placement season, with the lowest offer made to students standing at Rs 4 lakh per annum. This marks a significant decrease from last year’s minimum package of Rs 6 lakh.
However, despite the dip in minimum salaries, the average salary package saw an uptick, increasing by 7.7% to reach Rs 23.5 lakh per annum, compared to Rs 21.8 lakh last year. Nonetheless, the overall placement success rate declined, with 75% of students who actively participated in the campus drive securing job offers, down from the previous year’s 82%. In total, 1,475 job offers were accepted during the drive.
Increased Participation from Companies
This year’s placement season attracted participation from 364 companies, a rise from 324 the previous year. Despite the drop in job acceptance rates, this surge in company participation reflects strong interest from employers.
Surge in International Job Offers
One of the highlights of this placement season was the rise in international job offers. A total of 78 international offers were accepted across both phases of the placement season, with 22 of these offers exceeding Rs 1 crore per annum.
The engineering and technology sector led recruitment efforts, with 430 students hired by 106 core engineering companies. Additionally, the Information Technology sector experienced a modest increase in hiring compared to last year.
Key Recruiters and Sector Breakdown
In the financial sector, 33 firms from the trading, banking, and fintech industries made 113 offers to students. Overall, 775 students secured positions in multinational corporations based in India, while 622 students were placed in Indian firms.
The design sector, however, saw a slight decline, with 33 positions offered by 17 companies. The education sector also participated in the campus drive, with 11 companies extending 30 job offers.
In the research and development (R&D) domain, 36 organisations, including those in fields such as automation, energy science, and artificial intelligence, offered 97 positions. This sector continued to show promise, highlighting growing interest in R&D roles among graduates.
While IIT Bombay saw a reduction in its minimum salary offer and placement rate, the increase in average salaries and the surge in international opportunities underscore the institute’s continued appeal to top employers. Despite the challenges, IIT Bombay remains a hub for high-value placements across a diverse range of sectors.
