25% IIT-Bombay graduates fail to secure campus placements, lowest salary plummets to Rs 4 lakh per annum

This year saw a 12 percent increase in the number of companies recruiting from IIT-B.

The 2024 placement season at IIT-Bombay concluded with an average annual package of Rs 23.5 lakh, a 7.7 percent increase from last year's Rs 21.8 lakh. However, there was a reduction in the number of students placed through campus drives compared to the previous year. This year saw a 12 percent increase in the number of companies recruiting from IIT-B.

The lowest salary package offered this year was Rs 4 lakh per annum, down from Rs 6 lakh last year, with 10 students accepting offers within this range. On the other hand, 558 offers from 123 companies featured compensation packages exceeding Rs 20 lakh per annum, while an additional 230 offers ranged between Rs 16.75 lakh and Rs 20 lakh. Among the offers, 78 were international, and 22 exceeded Rs 1 crore annually. The presence of international recruiters was limited due to the war in Ukraine and a weakened global economy.

The second phase of the placement season started slowly but picked up after April, with approximately 300 job offers made during this period. Overall, 75 percent of students secured positions through the campus drive, and an additional 15 percent found jobs independently, according to sources cited in the report. The institute registered 543 companies, with 388 participating in the placements and 364 making offers.

The overall placement percentage for IIT-B students stands at around 75 percent.

Sector-specific hiring trends showed a decline in consulting offers, with 117 positions available from 29 consulting firms, mentions the report. Trading, banking, and fintech companies were significant recruiters. The finance sector alone had 113 offers from 33 financial service firms. There was notable hiring in fields such as artificial intelligence, machine learning, product management, and data science.

In the education sector, 11 companies participated, offering a total of 30 jobs. In research and development, 36 organisations provided 97 positions in various fields, including automation, energy science, and semiconductor technology. Out of 118 active PhD students, 32 were successfully recruited.