What Slowdown? 85 IIT Bombay Students Get Over Rs 1 Crore Salary Packages In Placements

At a time when uncertainties around global tech slowdowns and mass layoffs are increasingly being talked about, the Indian Institute of Technology (IIT) Bombay has recorded a successful placement season.

IIT Bombay Records 85 Job Offers Over Rs 1 Crore

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Out of total 1,340 offers made during the first phase of the placements at IIT Bombay, 85 offered salary-packages of more than Rs 1 crore. Last year, only 25 students were placed with offers of more than Rs 1 crore.

In the placements, the average salary package too has witnessed a marginal rise, from Rs 23.26 lakh per annum last year to Rs 24.02 lakh per annum this year in the first phase.

Also Read: IIT At 13, Apple At 24: Meet Prodigy Satyam Kumar

Which Companies Were The Top Recruiters At IIT-B?

Sectors that have the highest number of job offers rolled out are Engineering & Technology, IT/Software, Finance/Banking/Fintech, Management Consulting, Data Science and Analytics, Research & Development, and Design.

Also, some of the top recruiters who have reportedly visited the campus this season are Accenture, Airbus, Air India, Apple, Arthur D. Little, Bajaj, Barclays, Cohesity, Da Vinci, DHL, Fullerton, Future First, GE-ITC, Global Energy and Environ, Google, Honda R&D, ICICI-Lombard, ideaForge, IMC Trading, Intel, Jaguar Land Rover, JP Morgan Chase, JSW etc.

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Also Read: IIT Graduate Cracks UPSC Exam In His Fourth Attempt After Quitting Rs 36 Lakh Per Annum Job

How Many IIT Bombay Students Have Been Placed?

This year's participation rate among participating companies is significantly higher than last year's. This year, 388 companies took part in total and submitted 1,340 offers. In contrast, only 293 participating companies made a total of 1,348 offers during phase one of the placement season the previous year. This year, 63 foreign offers total¡ªthe same as the previous year¡ªwere made. Locations in Japan, Taiwan, South Korea, the Netherlands, Singapore, and Hong Kong were among the international offers. The highest offer of the year is reportedly from an international company that makes Rs 29 lakh Hong Kong dollars annually. However, the institute has not disclosed the specifics of the best offer.

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IIT Bombay announced its placement report for phase one a few days ago. This 20-day placement phase ended on December 20. "The placement office has made significant efforts to guarantee a comparable pool of offers, albeit with a larger number of companies, in light of market concerns. Our goal is to advance more businesses to the next stage. According to an Indian Express report, an official from the IIT Bombay placement office stated, "Although the process is slow, the offers are coming." The official also stated that over 2,000 students have registered for placements this year, with 60% of them having already been placed in the first phase. January 2024 will mark the start of the placements' second phase.

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