The recent placement season in IIT Bombay continued to be a mixed bag. The minimum salary package at IIT Bombay came down to Rs 4 lakh per annum compared with last year’s Rs 6 lakh. However, there was some good news for many of its students. The average salary package at IIT Bombay rises by 7.7 per cent to Rs 23.5 lakh per annum against Rs 21.8 lakh last year.
Despite this increase in the average salary package at IIT Bombay, the percentage of overall placement comes down to 75% from 82% last year. The total number of job acceptances during the session is 1,475. This proves that though some students benefited from higher compensation packages at IIT Bombay, others felt the heat of competition.
This is against 324 participating companies last year. This has shown interest in recruiting from IIT Bombay. International offers are up to the tune of 78 accepted jobs. Of these, 22 international offers receive salary packages exceeding Rs 1 crore per annum, showing possibilities for high salary packages at IIT Bombay, especially international ones.
Core engineering is also strong, with 430 students getting recruited by 106 companies. Hiring also improves marginally in the IT sector. Trading, banking, and Fin-tech together make 113 job offers in the finance sector.
Salary package at IIT Bombay increases but multiple sectors suffer
However, the design sector has gone through a decline in offers. The overall average compensation package at IIT Bombay has increased, but the few placements in certain sectors indicate a tough time ahead. The institute has carved out a high salary package both domestically and internationally, hence attracting top talent.
In future scenarios, it shall aim to enhance its placement percentage along with matching industrial trends. It shall be noted that IIT Bombay is a notable public research and technical institute in Maharashtra. It was founded in 1958 and was decreed as ‘Institutes of National Importance’ by the parliament.
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