Last Updated Sep - 03 - 2024, 08:57 PM | Source : HT | Visitors : 5
IIT Bombay's placement report for the academic year 2023-24 shows a 75% placement rate with a 7.7% increase in average salary packages. Despite economic uncerta
In the academic year 2023–2024, approximately 75% of students at the Indian Institute of Technology (IIT) Bombay were placed successfully through campus placement. The placement report from IIT Bombay was released on Tuesday morning.
As per the report, a total of 2,414 students registered for the placement drive, marking an 11% increase compared to the previous year. The institute secured the second-highest number of placements in its history, with 1,475 students placed this year, slightly below the record 1,516 placements achieved in 2022-23.
Report stated that, despite the economic uncertainties, three out of four students were able to secure their desired job profiles, translating to a placement percentage of 75%. The average salary packages, based on Cost to Company (CTC), saw a significant increase of 7.7%, rising from INR 21.82 LPA last year to INR 23.5 LPA. This reflects a robust job market recovery following the resumption of economic activities post-COVID-19.
The number of recruiting companies also rose, with 364 companies participating this year, a 12% increase from the 324 companies that took part last year. As per the report, there has been a significant increase in mechanical engineering placement compared to last year. Around 217 students were placed compared to 171 in the last academic year. A report also stated the declining trend of the number of students placed in the computer science stream. This year, 242 students from computer science stream were placed, which is less than 273 students last year.
The report also pointed out that 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. Almost all participating companies honoured their job offers. As per the report, 32 PhD students from 118 registered for placement accepted offers.
Total number of registered students: 2414
Number of active participants: 1979
Total number of accepted offers: 1475
Total number of jobs offers: 1650
Job offers above INR 1 core accepted: 22
Pre-placement offers accepted: 258
International jobs offer: 78
Average CTC from allocated offers (in INR): INR 23.50 LPA.
Median Salary: 17.92 LPA
Top recruiting sector: Engineering and Technology
Above 20 LPA – 558
Between 16.75 to 20 – 230
Between 14 to 16.75 - 227
Between 12 to 14 – 93
Between 10 to 12 – 161
Between 8 to 10 – 128
Between 6 to 8 – 68
Between 4 to 6 - 10
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