Campus placement decreases in IIT-Bombay, minimum pay also drops

The placement season at the Indian Institute of Technology (IIT)  Bombay has presented a mixed outcome, with a decrease in the minimum salary package and a lower placement rate, but a rise in international offers and a modest increase in the average salary package

The lowest package offered to students has dropped to Rs 4 lakh per annum, a stark decline from the previous year’s Rs 6 lakh. Despite the decrease in the minimum salary, the average annual package at IIT Bombay has experienced a slight increase of 7.7 percent, rising to Rs 23.5 lakh from last year’s Rs 21.8 lakh. However, the number of students successfully placed through the campus drive has decreased compared to the previous year.

Only 75 percent of students who actively participated in the campus drive secured jobs, with 1,475 job offers accepted. This marks a decline from last year’s 82 percent placement rate. The institute saw participation from 364 companies making offers, an increase from 324 the previous year.

Notably, IIT Bombay witnessed an uptick in international offers, with a total of 78 such offers accepted across both phases of the placement season. Of these, 22 offers exceeded Rs 1 crore per annum.

The engineering and technology sector recruited the highest number of students, with 430 students selected for entry-level positions across 106 core engineering companies. The Information Technology sector also saw a slight increase in hiring compared to last year. Trading, banking, and fintech companies were prominent recruiters, with the finance sector making 113 offers from 33 financial service firms.

In total, 775 students were placed in multinational corporations in India, and 622 students secured positions in Indian firms. Seventeen design companies offered 33 jobs, although this was fewer than last year. The education sector saw participation from 11 companies, offering only 30 jobs.