Bengaluru: The placement season at the prestigious Indian Institute of Technology Bombay (IIT-Bombay) is a mixed one this year. While the institute saw a rise in the average annual salary offered to its students during the 2023-24 placement drive, the minimum package offered dropped to an all-time low of Rs 4 lakh per annum, indicative of a tepid job market in the country.
According to the placement report, 558 offers of more than Rs 20 lakh CTC (Cost to the Company) were made by 123 companies of which 22 offers were of above Rs 1 crore per annum. However, ten students accepted offers between Rs 4 lakh and Rs 6 lakh per annum.
The placement report for 2024 showed that fewer students compared to last year got placed this time. This year saw around 75% of students getting placed as compared to 82% last year.
“Most of the remaining unplaced students have identified avenues to be gainfully employed. Some of the unplaced students prefer higher studies, self-employment, or entrepreneurship over the jobs being offered to them.” it said.
The report said that 1,979 students actively participated in the campus drive that concluded on July 7, 2024 out of which 1,475 job offers were accepted.
“The number of registered students is 2414 in the current placement drive and has increased by 11 percent in comparison with the year before. IIT Bombay has achieved the second highest of 1475 this year, compared to the highest ever number of students placed in A.Y. 2022 – 23 with the total number of accepted offers being 1516,” the report added.
A total of 364 companies offered jobs in the campus placement drive from last year’s number of 324.
Around 78 international firms based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong participated in the placement season, dolling out offer letters. This was an increase from the previous year’s 65, the report said.
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