IIT-Bombay Placements: Only 75% Secured Jobs, Lowest Salary Falls to ₹4L/yr

IIT-Bombay 2024 placements concluded with an average annual package of ₹23.5 lakh, up 7.7% from last year’s ₹21.8 lakh. However, fewer students secured jobs compared to last year. The lowest salary offer dropped from ₹6 lakh to ₹4 lakh annually, with ten students accepting packages in this lower range.

IIT-Bombay’s 2024 placements saw 558 offers exceeding ₹20 lakh annually and 230 between ₹16.75 lakh and ₹20 lakh. The number of recruiting companies rose by 12%, with 78 international offers accepted and 22 offers above ₹1 crore. Despite this, fewer international recruiters were present due to global economic conditions. Of the 775 placed in MNCs, 622 will join Indian firms.

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IIT-Bombay placement season was initially slow

Sources reported that the second phase of IIT-Bombay’s placement season was initially slow but accelerated after April. About 300 job offers were made in Phase 2. While 75% of students were placed through the campus drive, another 15% secured jobs independently. Out of 543 registered companies, 388 participated, and 364 made offers.

This year, the engineering and technology sector led in recruitment, with 430 students hired by 106 core engineering firms. IT and tech hiring increased slightly, while consulting saw a decline with 117 offers from 29 companies. Trading, banking, and fintech were prominent, with 113 offers from 33 finance firms. There was strong demand for roles in AI, ML, data science, and related fields. Design companies, however, saw fewer placements, with 17 firms offering 33 jobs.

The education sector saw 11 companies participating with only 30 jobs offered. Research and development witnessed companies in automation, energy science, battery technology, chemical and mechanical research, energy efficiency solutions, application development, materials research, semiconductor, power electronics, AI/ML and research laboratories, where 36 organisations offered 97 positions in 2023-24. The recruited PhD students totalled 32 out of 118 active participants.

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