IIT Bombay Records 85 Job Offers Exceeding INR 1 Crore in Initial Placements; Check Details Here

New Delhi: IIT Bombay has witnessed a remarkable 85 students having successfully secured job offers exceeding INR 1 crore each in the initial phase of the IITB Placements. 

During this year's placement season at IIT-Bombay, the majority of higher salaries appear to originate from the research and development sector, with an average annual salary of INR 36.9 LPA which is an increase from the previous year's INR 32.25 LPA. However, the finance sector, particularly dominated by algo trading firms, witnessed a 22% decline in average yearly compensation, dropping to INR 32.4 LPA from INR 41.7 LPA last year.

IIT Bombay Placement Statistics 

IIT Bombay Sector-Wise Placement Trends

Other sectors, such as IT/software and consulting, experienced a slight increase in the overall average compensation during the initial phase of campus placements. The institute disclosed the report for the first phase on January 4, 2024. 

According to the IIT Bombay placement officer, the students have dedicated significant effort to align with company requirements. Conducting online interviews has its challenges, but the IIT Bombay students have managed well. 

Moreover, the job offers are arriving steadily, with international recruitment moving cautiously due to an unfavorable geopolitical scenario and the ongoing election year in India, prompting many companies to adopt a wait-and-watch policy, the placement officer revealed. 

IIT Bombay Initial Phase of Placements 2024

Concluding on December 20, the initial phase witnessed 63 students accepting international offers, with a majority originating from Japan, Taiwan, South Korea, Netherlands, Singapore, and Hong Kong. Despite global economic uncertainties, IIT-Bombay recorded a total of 1,340 offers by December 20, leading to placements for 1,188 students. 

This included placements in PSUs for seven students and 297 Pre-Placement Offers (PPOs) through internships, of which 258 were accepted. However, the overall offer numbers for the first phase were lower compared to the previous year.

During this placement season, some of the prominent companies like Airbus, Air India, Apple, Cohesity, Da Vinci, Google, Intel, Jaguar Land Rover, Morgan Stanley, Mercedes-Benz, Qualcomm, Reliance Group, Samsung, Schlumberger, Strand Life Sciences, Tata Group, Texas Instruments, TSMC, TVS Group, and Wells Fargo have visited the campus. The sectors making the most offers include engineering and technology, IT/software, finance/banking/fintech, management consulting, data science and analytics, as well as research and development and design.

In the previous placement season, the concluding average package reached INR 21.82 LPA. This contrasts with the average packages of INR 21.50 LPA in 2021-22 and INR 17.91 LPA in 2020-21.

Latest Update On IIT Bombay 

• IIT Bombay MBA Registrations Open; apply before Jan 31, 2024.
• IIT Bombay Collaborates with Reliance Jio to Launch ‘Bharat GPT'

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