IIT Bombay Placement 2024: Average salary package up by 7.7%; lesser job offers

NEW DELHI: Only 1,475 students of the Indian Institute of Technology (IIT) Bombay have been placed this year as compared to last year's 1,516. However, the IIT Bombay placements 2024 saw a 7.7% increase in the average salary package, to Rs 23.50 lakh per annum. 22 graduands secured jobs with salary packages above Rs 1 crore while 78 received international offers. The institute saw a 12 percent increase in the number of recruiters too and the engineering and technology emerged as the top recruiting sector.

2,414 students and 543 firms registered for the IIT Bombay placement. Of this; 1,979 students and 388 companies participated in the drive. Around 364 recruiters made offers.

IIT Bombay Placements 2024: Recruiters

Among the recruiting sectors were core engineering, information technology, software programming, research and development, consulting, finance, banking, high-end technology, and technical services.

As compared to last year’s 65 international offers, students grabbed 78 this year from different firms based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong.

Sector-wise, 430 students were selected in 106 core engineering companies at entry-level positions. More students were hired in information technology and tech this season compared to last year. Around 307 students have been offered IT or software jobs by over 84 companies through campus placement, making it the second biggest recruiter after the engineering sector.

Lesser jobs, 117, were made in the consulting domain this year by 29 companies. Trading, Banking, and Fintech companies were prominent recruiters. The finance sector made 113 offers from 33 financial service firms this year. Profiles in artificial intelligence, machine learning, product management, mobility, 5g, data science and analytics, and education also saw rising hiring trends.

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Besides 17 design companies offered 33 jobs and have seen fewer selections. The education sector saw 11 companies participating with only 30 jobs offered. The Research & 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.

While 775 students made their way to the Multi-National Companies (MNCs), 622 have been placed in Indian firms.

The IIT informed that some of the 435 students who didn’t register for campus placements want to pursue higher studies, such as MS, MTech, PhD and MBA programmes, while others opted for entrepreneurship or civil services, and didn’t appear or had minimal participation in the placement drive.

IIT Bombay Placements 2024: Job offers

The programme-wise placements are as follows:

Here’s the branch-wise placement analysis:

PPOs, PhD placements

300 students of IIT Bombay received Pre-Placement Offers (PPOs) of whom 258 accepted. The recruiters showed the most interest in computer science followed by core engineering.

On the other hand, 1,267 internship offers were made including 1,177 by companies and 90 by universities marking a 13% increase from last year. Students were offered internships in different departments such as computer science, chemical, civil, mechanical. The institute saw a slight decrease in the number of MSc internships and an increase in design internships.

The IIT Bombay PhD placements 2024 witnessed 32 offers and Rs 18.46 lakh average Cost to Company (CTC). Of 230 who registered for the placements, 118 sat for interviews.