IIT Bombay Placements 2024: 22 job offers with over Rs 1 crore salary package

IIT Bombay Placement 2023-24: 63 students accepted international job offers. The institute also saw an increase in average salary package this year.

Engineering and technology, research and development sectors among others received the highest placement offers. (Image: Official website)Engineering and technology, research and development sectors among others received the highest placement offers. (Image: Official website)

Anu Parthiban | January 4, 2024 | 08:55 PM IST

NEW DELHI: Indian Institute of Technology Bombay (IIT Bombay) has concluded the phase 1 placement session for the academic year 2023-24 with 388 domestic and international organizations participating in recruitment. In phase 1 placement season, 22 job offers with CTC greater than Rs 1 crore per annum were accepted.

The overall average salary of phase 1 placements was recorded at Rs 24.02 lakh per annum. The average salary package offered last year was Rs 21.82 lakhs per annum.

The IIT Bombay students got 1,340 job offers till December 20, 2023, which resulted in 1,188 students getting placed. Of which, seven students placed in public sector units (PSUs). Out of the 297 pre-placement offers (PPOs) received through internships, 258 students have accepted the offer.

Students also received 63 international job offers with locations in Japan, Taiwan, South Korea, Netherlands, Singapore and Hong Kong. Of the 22 jobs offers over Rs 1 core, three were domestic and 19 were at international locations.

Also read IIT Placements 2024: As job offers dip by 50%, students allege favouritism by placement teams

"In comparison, phase-1 of placement season 2022-23 had 16 accepted one crore plus offers of which 2 were domestic and 14 were at international locations," the official statement read.

“IIT Bombay slots companies in a way to ensure that firms are maximally spread out to reduce stress on students and also minimize cross offers. Firms have interacted with candidates in-person or through virtual meeting platforms, with all the students appearing for the interviews from the venue itself,” the institute said.

IIT Bombay: Sector-wise average salary

Engineering and technology, IT, software, finance, banking, fintech, management consulting, data science and analytics, research and development, and design domains got the highest number of placement offers.

Sector

Overall average salary (lakh per annum)

Engineering and technology

Rs 21.88

IT/ Software

Rs 26.35

Finance

Rs 32.38

Consulting

Rs 18.68

Research and development

Rs 36.94

Overall

Rs 24.02

The top recruiters of IIT Bombay placements include Accenture, Airbus, Air India, Apple, Arthur D Little, Bajaj, Barclays, Cohesity, Da Vinci, DHL, Fullerton, Future First, GE-ITC, Global Energy and Environ, Google, Honda R&D, ICICI-Lombard, ideaForge, IMC Trading, Intel, Jaguar Land Rover, JP Morgan Chase, JSW, Kotak Securities, Marsh McLennan, Mahindra Group, Micron, Microsoft, Morgan Stanley, Mercedes-Benz, L&T.

Correction: The number of job offers over Rs 1 crore was reported as 85 in the first report. The institute has corrected the error recently.

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