IIT Bombay Launches Campus Placement Season Amid Global Economic Concerns

New Delhi: Commencing the initial phase of the campus placement season, the Indian Institute of Technology-Bombay (IIT-B) initiated interviews on December 1, 2023. 

Despite concerns about a global economic downturn, the prestigious institute anticipates a successful placement season. Around 40 companies conducted interviews on the IIT Bombay placement's first day, with an 80% participation rate from regular recruiters, marking an encouraging trend compared to the previous year.

As per the institute's announcement on December 1, 2023, more than 350 companies are anticipated to take part in the initial phase of the placement season, extending until December 15, 2023. 

The placement process has commenced positively, with over 200 pre-placement offers (PPO) already accepted. Notably, three Public Sector Undertakings (PSUs) – Hindustan Petroleum Corporation Limited (HPCL), Centre for Development of Telematics (C-DOT), and Oil and Natural Gas Corporation (ONGC) – have recruited students even before the official commencement.

IIT Bombay Placements Past Trends 

The inaugural phase of IIT-Bombay's placement season for the academic year 2022-23 took place from December 1 to December 16, 2022. On the first day of that season, 46 companies conducted interviews both in person and online, resulting in 250 job offers and 300 pre-placement offers.

This year, participating companies in IIT Bombay for domestic profiles include Google India, Apple, Microsoft India, Procter & Gamble, Sony Japan, Texas Instruments, Qualcomm, Tata Group, among others. 

Notably, the companies present on the first day of the placement season last year included Accenture Solutions, Airbus India, Microsoft India, Morgan Stanley, McKinsey & Company, Procter & Gamble, Qualcomm, Shell India, Texas Instruments, and Tata Steel.

According to IIT-B's data, phase one of the 2022-23 placement season saw 1648 initial offers as compared to the same phase in 2021-22 (1,723). However, considering accepted offers, including PPOs, the first phase of the 2022-23 season recorded an all-time high.

After the initial phase last year, students accepted 63 international offers, with 25 offers exceeding INR 1 crore per annum packages. The highest annual CTC-based salaries for domestic and international offers were Rs 3.67 crore and Rs 1.31 crore, respectively.

Considering all accepted offers during last year's phase one, the average annual salary reached INR 23.26 lakh (CTC basis). Notably, in the same phase, IIT-B's placement of PhD scholars achieved a milestone with 36 accepted offers, featuring an average CTC package of INR 16 lakh per annum. The highest salary package in this category reached INR 29 lakh per year.

Given the observed trends in IIT-B's placement seasons over the past two years, the unfolding of this year's placement season is bound to be intriguing. Meanwhile, there's an expected participation from 350 companies during the current phase one. 

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