IIT-Bombay: Placement Rate Falls For Graduates; Minimum Pay Drops To Rs 4 Lakh Per Annum

In a recent development, a significant downfall was observed in the minimum salary package of the Indian Institute of Technology (IIT) Bombay graduates during the recent placement season.

The placement drive this year witnessed a mixed outcome. While the minimum salary package dropped along with a lower placement rate, the international offers increased alongside a modest hike in the average salary package for the graduates.

IIT-Bombay placements: The downfalls

As per several reports, the lowest package offered to students this year dropped to as low as rupees 4 lakh per annum (LPA) which showed a stark decline from the previous year’s rupees 6 lakh.

Moreover, the number of students successfully placed through the campus placement drive has decreased compared to the previous year.

IIT-Bombay placements: The improvements

The average annual package for the students graduating from the esteemed institution experienced a slight increase of 7.7 percent, rising to Rs 23.5 lakh from last year’s Rs 21.8 lakh.

Furthermore, IIT Bombay also witnessed a significant increase in international offers. This year 78 such offers were accepted during the placement drive across both phases of the placement season with 22 of them exceeding a salary of rupees one crore per annum.

IIT-Bombay placements: The highest recruiting sectors

The highest number of recruitments took place in the fields of engineering and technology sector as 430 students were reportedly selected for entry-level positions across 106 core engineering companies.

The hiring rate slightly went up in the Information Technology (IT) sector compared to last year.

At the end of the placement drive, a total of 775 students were hired by multinational corporations in India while 622 students secured positions in Indian firms.