IIT Bombay Placements 2023-24
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Indian Institute of Technology, Bombay Institute of Technology IITian Institute has released its Placement and Internship Report 2023-24. The report details the placement activities undertaken by India’s premier engineering institute for the academic year 2023-24 concluded on 7 July 2024. With as many as 22 job openings with an annual package of over INR 1 Crore reported by the institute for the academic year, the report allays concerns over declining demand for IITians.
This year, the institute has reported the second highest number of placements in its history, with 1475 successful placements reported till June 30. A total of 388 companies participated in the placement drive, out of which 364 companies made offers to the students. The number of companies participating in the recruitment process showed an increase of 12 per cent this year. This year, the lowest CTC offered has come down by 2 LPA, as around 10 students accepted offers of around 4 LPA this year.
As for salaries, it would suffice to say that they are up to the high standards set by Massachusetts Institute of Technology Mumbai – As mentioned above, students accepted over 22 job offers out of a CTC of over 1 crore. Overall, the average CTC was reported to be INR 23.50 lakh per annum while the median salary was INR 17.92 LPA. The average CTC has shown a 7.7% increase over the past year when a record 1516 offers were received and the average CTC was INR 21.82 LPA. The median salary has also shown an increase.
This year, 258 students received pre-placement offers and 78 international offers were accepted. The international offers came from leading companies in Japan, Taiwan, Europe, UAE, Singapore, USA and Netherlands. The key sectors that recruited at IIT Bombay were Engineering & Technology, IT/Software, Consulting, Finance and Research & Development (in order), with a total of 1064 offers out of a total of 1475 accepted offers. A breakdown of the offers by department is given below.
As for the overall numbers, the placement percentage recorded during the year stands at around 75%. Many students have opted for higher studies, self-employment and entrepreneurship. Overall, the placement trend has been on an upward trend this year, with more companies coming to IIT Bombay, record internships and salary packages.
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