IIT Bombay Placements: 22 Students Secure Packages Over Rs 1 Crore, Lowest Package Drops To Rs 4 LPA

IIT concluded the 2023-24 placement drive with 22 students securing over Rs 1 crore per annum, 78 international offers, and a 12% rise in recruiters.

IIT Placements 2024: A total of 78 international jobs were offered from different firms.

Source : IIT Bombay

The Indian Institute of Technology (IIT) has concluded the 2023-24 session placement drive. 22 students secured job offers with salary packages above Rs 1 crore per annum, while 78 students received international offers. The institute witnessed a 12 percent increase in the number of recruiters this year, with engineering and technology emerging as the top recruiting sectors. Out of 2,414 students and 543 firms registered for the placements, 1,979 students and 388 companies actively participated in the drive. A total of 364 recruiters made offers, resulting in the placement of 1,475 students.

The average salary package offered was Rs 23.50 lakh per annum, while the median salary was Rs 17.92 lakh per annum. Despite a 7.7 percent increase in average compensation, the number of students placed through campus recruitment was lower than the previous year, according to a report by the premier institute. The placement percentage for the year was recorded at no more than 75 percent.

The lowest package at IIT Bombay's placement, which was previously Rs 6 lakh per annum, has been further reduced to Rs 4 lakh this year.

A total of 558 offers from 123 companies had gross compensation packages exceeding Rs 20 lakh per annum, while another 230 offers ranged between Rs 16.75 lakh and Rs 20 lakh per annum.

"This year, we observed a 12 percent rise in companies recruiting from IIT Bombay. Additionally, 78 international offers were accepted across both phases of the placements for the academic year 2023-24, and 22 offers with packages above Rs 1 crore per annum were accepted during this drive," the report stated.

Among the top recruiting sectors at IIT Bombay placements 2024 were core engineering, IT, software programming, R&D, consulting, finance, and technical services. This year, students secured 78 international offers, an increase from last year's 65, from firms in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong.

Sector-wise, 430 students were hired by 106 core engineering companies, making it the largest recruiting sector. Information technology and tech companies followed closely, with 307 students securing IT or software roles from over 84 companies. Consulting saw a drop, with only 117 offers made by 29 companies. The finance sector remained strong, with 113 offers from 33 firms.

The education sector saw limited participation, with 11 companies offering just 30 positions. In R&D, 36 companies offered 97 roles in areas like automation, battery technology, and AI/ML. Design companies offered 33 jobs, a decrease from previous years.

A total of 775 students were placed in MNCs, while 622 joined Indian firms. Additionally, some of the 435 students who didn't register for placements are pursuing higher studies, entrepreneurship, or civil services.

IIT Bombay Placement: Programme-wise Details

Here’s a summary of the programme-wise placements for IIT Bombay in 2024:

• BTech:
  • Registered: 930
  • Participated: 819
  • Placed: 683
  • Placement Percentage: 83.39%
• MTech:
  • Registered: 564
  • Participated: 497
  • Placed: 415
  • Placement Percentage: 83.50%
• MS (Research):
  • Registered: 23
  • Participated: 15
  • Placed: 14
  • Placement Percentage: 93.33%
• Dual Degree (BTech + MTech):
  • Registered: 216
  • Participated: 192
  • Placed: 152
  • Placement Percentage: 79.16%
• MSc (2 years):
  • Registered: 228
  • Participated: 158
  • Placed: 87
  • Placement Percentage: 55.06%
• Bachelors in Science (4 years):
  • Registered: 69
  • Participated: 60
  • Placed: 39
  • Placement Percentage: 65.00%
• BDes:
  • Registered: 26
  • Participated: 17
  • Placed: 9
  • Placement Percentage: 52.94%
• Dual Degree (BDes + MDes):
  • Registered: 10
  • Participated: 10
  • Placed: 4
  • Placement Percentage: 40.00%
• MDes:
  • Registered: 69
  • Participated: 63
  • Placed: 36
  • Placement Percentage: 57.14%
• MS (Research) (Exit Degree):
  • Registered: 10
  • Participated: 7
  • Placed: 1
  • Placement Percentage: 14.28%
• MPP (Masters in Public Policy):
  • Registered: 11
  • Participated: 6
  • Placed: 0
  • Placement Percentage: 0.00%
• Others:
  • Registered: 28
  • Participated: 18
  • Placed: 3
  • Placement Percentage: 22.22%
• PhD:
  • Registered: 230
  • Participated: 117
  • Placed: 32
  • Placement Percentage: 27.35%