IIT Bombay Placement: Average Package Hits Rs 23.5 Lakh, 22 Students Bag Offers Over Rs 1 Crore
The core engineering and technology sector was the leading recruiter, absorbing a significant portion of the graduating batch.
The Indian Institute of Technology Bombay has wrapped up its placement season for the academic year 2023-24, with a total of 1,475 students securing job offers. The average annual package offered during the placement drive stood at Rs 23.5 lakh. While, 22 students received offers exceeding Rs 1 crore per annum, ANI reported.
The core engineering and technology sector was the leading recruiter, absorbing a significant portion of the graduating batch. A total of 430 students were placed in core engineering roles across 106 companies. Information Technology and software roles also saw a rise in recruitment compared to the previous year. A total of 307 students were offered positions in the IT sector by more than 84 companies, making it the second-largest recruiting sector after core engineering.
The consulting sector, however, saw a decline in recruitment, with 29 companies extending 117 offers, fewer than last year’s numbers. The finance sector continued to be a prominent recruiter, with 33 companies offering positions to 113 students. There was also notable hiring in specialised areas such as artificial intelligence, machine learning, product management, mobility, 5G, data science, analytics and education.
This year, IIT Bombay recorded a 12% increase in the number of companies participating in the placement process. A total of 543 companies registered for the drive, with 388 actively participating and 364 extending offers. The institute reported over 1,350 unique job profiles available to students, as indicated by the Job Announcement Forms submitted by the companies.
International placements played a key role in this year’s drive, with 78 students accepting offers from overseas employers. These offers came from countries, including Japan, Taiwan, Europe, the UAE, Singapore, the USA, the Netherlands and Hong Kong. This marked an increase from 65 international offers in the previous year.
The 2023-24 placement season at IIT Bombay commenced in July 2023 and concluded on July 7.
