IIT Bombay: 85 students bag job offers of more than Rs 1 crore in placement drive
International offers with locations in Japan, Taiwan, South Korea, Netherlands, Singapore and Hong Kong were 63, said the institute
Eighty-five students of the prestigious Indian Institute of Technology (IIT) Bombay secured Rs 1 crore plus package in campus placements, while 63 have received international offers.
The sectors having highest number of offers rolled out are engineering and technology, IT/software, finance/banking/fintech, management consulting, data science and analytics, research and development and design.
“International offers with locations in Japan, Taiwan, South Korea, Netherlands, Singapore and Hong Kong were 63. Accepted job offers with CTC greater than Rs 1 crore per annum were 85,” the institute said.
Top recruiters
The institute said some of the top recruiters who have visited the campus this season are Accenture, Airbus, Air India, Apple, Arthur D. Little, Bajaj, Barclays, Cohesity, Da Vinci, DHL, Fullerton, Future First, GE-ITC, Global Energy and Environ and Google.
Firms also included 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, it said.
1,188 students placed
The phase-I of placement season 2023-24 at IIT Bombay ended with 388 domestic and international organisations participating, with the number including companies making pre-placement offers (PPOs) as well as participating public sector units (PSUs).
IIT Bombay slots companies in a way to ensure firms are maximally spread out to reduce stress on students and also minimise cross offers, it pointed out. Firms have interacted with candidates in-person or through virtual meeting platforms, with all the students appearing for the interviews from the venue itself.
It said 1,340 offers had been made till December 20, 2023, which resulted in 1,188 students getting placed. This includes the seven students placed in PSUs as well as 297 pre-placement offers (PPOs) via internships, of which 258 were accepted, the IITB said. However, the overall number of offers received during this phase was marginally lower than the previous year.
This year’s trends also reflected a much greater rate of PPO acceptance by students, compared to last year. By the end of phase one of placements last year, only 194 out of 300 PPOs were accepted by students.
Average salary up
The average salary package has witnessed a marginal increase from Rs 23.26 lakh per annum last year to Rs 24.02 lakh per annum this year. For engineering and technology, the average package is Rs 21.88 lakh, IT and software Rs 26.35 lakh, finance Rs 32.38 lakh, consulting Rs 18.68 lakh, and research and development Rs 36.94 lakh.
In the phase I placement between December 1 to 15, 388 domestic and international companies made 1,340 offers. Over 2,000 students have registered for placements this year, with 60% covered in the first phase. The second phase is scheduled for later this month.
