IIT-Bombay Placements 2024: The placement season at IIT Bombay (IIT-B) for 2024 concluded with notable changes in compensation and placement figures. This year, the average annual package offered to students rose to Rs 23.5 lakh, a 7.7% increase from last year’s Rs 21.8 lakh. Despite this positive shift in average compensation, the number of students placed through campus drives decreased compared to the previous year. The lowest salary offered dropped significantly from Rs 6 lakh to Rs 4 lakh per annum.
IIT-B Sees Increase In Offers
The placement drive saw 558 offers from 123 companies with annual packages exceeding Rs 20 lakh, while an additional 230 offers were in the range of Rs 16.75 lakh to Rs 20 lakh. This year, there was a 12% increase in the number of companies recruiting from IIT-B. Notably, 78 international offers were accepted, and 22 offers were above Rs 1 crore annually. However, the ongoing war in Ukraine and a subdued global economy led to fewer international recruiters.
Phase 2 Gains Momentum
The placement season was marked by a slow start in the second phase, which eventually gained momentum after April. During Phase 2, approximately 300 job offers were made. Overall, about 75% of students secured placements through campus drives, with another 15% finding jobs independently. The total number of participating students saw a placement percentage of nearly 75%, while the remaining unplaced students either found alternative employment opportunities or opted for higher studies.
Also Read: Rich-Poor Gap Widens In Indian Economy: 1% Grabs 73% Wealth, 6.30 Crore Have 1% Property
Engineering, Tech Lead Recruitments
The engineering and technology sectors remained the largest recruiters, with 430 students placed in entry-level positions across 106 core engineering companies. In contrast, consulting offers declined, with 117 positions from 29 consulting firms, reflecting a drop from previous years. The finance sector also made a significant impact, with 113 offers from 33 financial service firms. Other sectors such as artificial intelligence, machine learning, product management, 5G, data science, and analytics witnessed robust hiring trends.
Education, R&D Roles See Limited Growth
The education sector had limited participation, with 11 companies offering just 30 jobs. Research and development roles saw 36 organizations offering 97 positions in various fields, including automation, energy science, battery technology, chemical and mechanical research, and semiconductor technology. PhD students also saw placements, with 32 out of 118 participants securing positions.
