IIT-Bombay Phase I placement closes with 85 job offers over Rs 1 crore salary packages

IIT Bombay/File photo

The Indian Institute of Technology (IIT) Bombay wraps up Phase I of the placement season 2023-24 with a total of 85 job offers with over Rs 1 crore salary package this year. The institute also witnessed an increase in the average salary package this year to Rs 24.02 lakh as compared to Rs 23.26 lakh last year.

Phase I of placement season this academic year at IIT-B ended with 388 companies, including domestic and international companies participating. The tally encompasses companies extending pre-placement offers (PPOs) and engaging public sector units (PSUs) to the students.

IIT-Bombay strategically schedules company slots to optimise distribution aiming to alleviate stress on students and minimize cross offers. This information was conveyed through an official statement issued by the institute on Thursday evening. "Firms have interacted with candidates in-person or through virtual meeting platforms, with all the students appearing for the interviews from the venue itself," the statement read.

As per the data shared by the institute, a total of 1,340 offers were made till December 20, 2023, which resulted in 1,188 students' placements. This includes the seven students placed in PSUs and 297 PPOs via internships, of which 258 were accepted. Job offers with international placements included a total of 63 countries, including countries like Japan, Taiwan, South Korea, Netherlands, Singapore, and Hong Kong. Accepted job offers with total compensation (CTC) exceeding Rs 1 crore per annum reached 85. Considering all offers accepted at IIT-Bombay, the average annual salary for Phase I this year was Rs 24.02 lakh (CTC basis).

Some of the top recruiters who visited IIT-B campus this season

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, Kotak Securities, Marsh McLennan, Mahindra Group, Micron, Microsoft, Morgan Stanley, Mercedes-Benz, L&T, NK Securities, OLA, P&G, Qualcomm, Reliance group, Samsung, Schlumberger, Strand Life Sciences, Tata group, Texas Instruments, TSMC, TVS Group and Wells Fargo to name a few.

Sectors with the highest number of offers rolled out

Engineering & Technology,

IT / Software,

Finance / Banking / Fintech,

Management Consulting,

Data Science and Analytics,

Research & Development and Design.

The overall average salaries as well as those for major sectors