Stop using CAGR to measure your investment returns. Experts say there is a better way.

IIT-B Placement Report 2024: The 2024 placement season at the Indian Institute of Technology (IIT)-Bombay has concluded with a mixed bag of results. While the average annual package offered to graduating students saw a modest increase, the overall number of placements witnessed a slight decline.

Rising Average Salaries, Fewer Placements

According to the institute's placement report, the average salary package for students rose to Rs 23.5 lakh per annum, a 7.7% increase from the previous year. However, the number of students placed through the campus drive was lower than in 2023.

High-Paying Offers and International Opportunities

Despite the overall decline in placements, the number of high-paying offers continued to rise. A total of 558 offers with a gross compensation exceeding Rs 20 lakh per year were made, and 78 international offers were accepted. Additionally, 22 students received job offers with packages exceeding Rs 1 crore per annum.

Major Highlights from IIT Bombay Placement Report 2023-24

Concerns Over Lowest Package

While the lowest salary in 2023 was Rs 6 lakh per annum, it fell to Rs 4 lakh in 2024. Ten students accepted job offers in this range, raising concerns about the job market for graduates from even prestigious institutions like IIT-Bombay.

Download: IIT Bombay Placement & Internship Report 2024

Key Recruiters and Challenges

Multinational corporations (MNCs) continued to be the primary recruiters, with 775 students placed in Indian MNCs and 622 in Indian companies.

While the institute's graduates continue to attract high-paying offers and international opportunities, the overall placement scenario has been impacted by factors beyond the control of the students or the institute.