IIT Placement 2024: Such a great placement happened in this IIT! Companies broke down to give jobs, packages worth crores to students

IIT Bombay Job Package 2024: Nearly 75% of students studying at the Indian Institute of Technology (IIT) Bombay have got jobs through campus placements for the academic year 2023-24. IIT Bombay released its placement report on Tuesday morning. According to the report, a total of 2,414 students had registered for the placement drive, which is 11 percent more than last year. Here are some statistics.

IIT Bombay Placement Details: IIT Bombay Placement Details

Total No. of Registered Students : 2414
Number of active participants: 1979
Total number of offers accepted: 1475
Total number of job offers: 1650
Job offers above Rs 1 crore Accepted: 22
Pre-placement offers accepted: 258
International job offers: 78
Average CTC from allotted offer (in Rs): Rs 23.50 lakh per annum
Average Salary: Rs 17.92 lakh per annum
Top Recruiting Sectors: Engineering & Technology

Salary and number of students getting job on that package: IIT Bombay Job Package Details

Above Rs 20 lakh per annum – 558
Between Rs 16.75 to Rs 20 lakh per annum – 230
Between Rs 14 to Rs 16.75 lakh per annum – 227
Between Rs 12 to Rs 14 lakh per annum – 93
Between Rs 10 to Rs 12 lakh per annum – 161
Between Rs 8 to Rs 10 lakh per annum – 128
Between Rs 6 to Rs 8 lakh per annum – 68
Between Rs 4 to Rs 6 lakh per annum – 10

IIT Bombay has the second highest placements in its history:

The IIT has achieved the second highest placements in its history, with 1,475 students getting jobs this year. This number is only slightly less than the record 1,516 placements achieved in 2022-23. Despite the economic uncertainties, three out of four students managed to get the job profile of their choice, leading to a placement percentage of 75%, the report said.

The average salary package based on cost of living (CTC) witnessed a significant increase of 7.7%, from Rs 21.82 lakh per annum last year to Rs 23.5 lakh per annum. This reflects the strong recovery in the job market following the resumption of economic activities post COVID-19. The number of companies recruiting has also increased, with 364 companies participating in placements this year, up 12% from 324 companies participating last year.

According to the report, there has been a significant increase in mechanical engineering placements compared to last year. Around 217 students were placed as compared to 171 in the previous academic year. A report also mentions a drop in the number of students getting jobs in the computer science stream. This year, 242 students from the computer science stream got jobs, down from 273 students last year.

The report also states that most of the remaining students have found ways to gain employment. Some students preferred higher education, self-employment, or entrepreneurship over the jobs available. Almost all participating companies honored their job offers. According to the report, 32 of the 118 PhD students registered for placements accepted the offers.