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
| Key Metric | Details | Key Metric | Details |
| Total Number of Registered Students | 2414 | Total Number of Registered Students | 2414 |
| Total Number of Actively Participated Students | 1979 | Total Number of Actively Participated Students | 1979 |
| Total Number of Accepted Offers | 1475 | Total Number of Accepted Offers | 1475 |
| Total Number of Companies Offered Jobs | 364 | Total Number of Companies Offered Jobs | 364 |
| Total Number of Job Offers | 1650 | Total Number of Job Offers | 1650 |
| Job Offers above Rs. 1 crore accepted | 22 | Job Offers above Rs. 1 crore accepted | 22 |
| Pre-Placement Offers Accepted | 258 | Pre-Placement Offers Accepted | 258 |
| International Job Offers Accepted | 78 | International Job Offers Accepted | 78 |
| Average annual CTC Salary Package of students | Rs. 23.50 LPA | Average annual CTC Salary Package of students | Rs. 23.50 LPA |
| Median Salary | Rs. 17.92 LPA | Median Salary | Rs. 17.92 LPA |
| Top Recruiting Sector | Engineering & Technology | Top Recruiting Sector | Engineering & Technology |
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.
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