Ten students accepted job offers in the range of Rs 4 lakh to Rs 6 lakh per annum.
Despite a 7.7 percent increase in average remuneration, fewer students were placed through the campus campaign compared to the previous year, according to a report by the reference institution. Moreover, the placement percentage recorded for that year did not exceed 75 percent.
A total of 558 offers from 123 companies were for gross remuneration packages above Rs 20 lakh per annum. Another 230 offers ranged between Rs 16.75 lakh and Rs 20 lakh per annum.
“This year, we saw a 12 percent increase in companies recruiting from IIT Bombay. 78 international offers were accepted in both phases of the Placements at IIT Bombay for the academic year 2023-24, while during this campaign 22 offers of more than Rs 1 crore per annum were accepted,” the report stated.
A total of 775 students secured positions in multinational corporations in India and 622 were placed in Indian companies.
The second phase of the placement season started slowly but gained momentum after April. According to a report by the Times of India, around 300 job offers were received during this phase.
“We received around 300 job offers in Phase 2. Moreover, while 75% of the students were placed through the campus drive, another 15% of the students found jobs on their own,” a source told TOI.
The institute had 543 companies registered for placements, of which 388 participated and 364 made offers.
The IIT-Bombay report added: “Considering the total number of participating students, the placement percentage is nearly 75%. Most of the students who have not secured placement have identified avenues for gainful employment.”
He also mentioned that others opted for higher education.
Other data trends suggest that the engineering and technology sector recruited the largest number of students, selecting 430 students for entry-level positions at 106 key engineering companies. Information technologies and tech hiring saw a slight increase compared to last year.
However, fewer consulting offers were made: 29 consulting firms recruited 117 students.
This year, trading, banking and fintech companies were the main sources of hires. The financial sector received 113 offers from 33 financial services companies. Hiring trends were dynamic in the artificial intelligence (AI), machine learning, product management, mobility, 5G, data science and analytics and education sectors.
At least 17 design companies offered 33 jobs, although this figure is lower than last year. In the education sector, 11 companies participated, offering only 30 jobs.
The R&D segment involved companies in automation, energy science, battery technology, chemical and mechanical research, energy efficiency solutions, application development, materials research, semiconductors, power electronics, AI/ML, and research labs. In total, 36 organizations offered 97 positions for the 2023-24 period.
Among PhD students, 32 out of 118 active participants received job offers.
(With TOI tickets)
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