IIT Bombay pass-outs got an average package of Rs23.5 lakh per annum in 2023-24 placements; 22 got Rs1 cr plus offer

Mumbai (Maharashtra) [India], September 3 (ANI): The Indian Institute of Technology Bombay (IIT Bombay) has concluded its placement season for the academic year 2023-24, with 1,475 students securing placements, it said in a statement.
The overall average package offered during IIT Bombay placements 2023 - 2024 stood at Rs 23.5 LPA. Additionally, 22 students accepted offers with annual packages exceeding Rs 1 crore.
The Engineering and Technology sector recruited the highest numbers of students.
In various engineering domains, 430 students were selected in 106 core engineering companies at entry-level positions. Information Technology and tech hiring have slightly more this season compared to last year.
Around 307 students have been offered IT/Software jobs by over 84 companies through campus placement, making the IT
sector the second biggest recruiter after the engineering sector.
Compared to last year fewer selections, i.e. 117 consulting offers were made by 29 consulting companies. Trading, Banking, and Fintech companies were prominent recruiters. The finance sector has 113 offers from 33 financial service firms this year. Profiles in Artificial Intelligence, Machine Learning, Product Management, Mobility, 5G, Data Science and Analytics, and Education also saw brisk hiring trends.
This year, IIT Bombay witnessed a 12 per cent increase in the number of recruiting companies, with 543 companies registering for the placement process.
Out of these, 388 companies participated actively, and 364 companies made offers. Notably, the institute recorded over 1,350 unique job profiles through the Job Announcement Forms (JAFs) submitted by the companies, it said in a statement.
The placement drive also saw a significant international presence, with 78 international offers being accepted by students across both phases of the placements.
This year IITB received 78 international offers from different firms based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong, which has increased from 65 in the previous year.
However, the effect of war and subdued global economy was also reflected during the placement drive as the the IIT Bombay saw fever international recruiters.
The placements for the Academic year 2023 - 2024 saw participation from multiple sectors such as Core Engineering, Information Technology, Software programming, Research and Development, Consulting, Finance, Banking, High-end Technology, and Technical Services. IIT Bombay's placement drive commenced in July 2023 and concluded on July 7th, 2024.
(ANI)