IIT Bombay records highest-ever overseas offer of Rs 3.7 cr on campus

The Indian Institute of Technology (IIT) Bombay has reportedly recorded its highest ever international offer of Rs 3.7 crore per annum at its just-concluded annual placements.

According to a Times of India report, the highest domestic offer was Rs 1.7 crore, which was a notch below last year’s domestic offer of Rs 1.8 crore yearly. Last year’s highest international offer was Rs 2.1 crore.

The largest number of students were reportedly recruited by the engineering and technology sector with the average salaries a notch above last year’s. As many as 458 students were hired at entry-level positions by 97 core engineering companies.

IT/software hirings recorded a fall. Some 88 companies picked up 302 students for this sector. Around 90 per cent of BTech, MTech, and dual-degree students who participated in the placements were hired as well.

Fewer international offers

Of the total 1,845 students were took part in the placements, 1,516 or around 82 per cent were recruited. However, barely 31 per cent of the PhD students got jobs.

As many as 16 offers were above Rs 1 crore per annum. In all, 300 offers were made, of which 194 were lapped up by students. Of these, 65 were international. However, the number of international offers took a dip compared to last year.

The placement office told TOI that the offers had come from firms in the US, the UK, The Netherlands, Japan, Hong Kong, and Taiwan.

The average annual salary recorded this year was Rs 21.8 lakh, a slight rise compared to last year’s Rs 21.5 lakh and Rs 17.9 lakh recorded the year before that.