IIT Bombay is one of the most prestigious colleges in India. With good placements and top salary packages, IIT Bombay has always been a dream college for students. However, the placement of the 2024 season at IIT Bombay ended with mixed outcomes.
The average annual package offered to students reached Rs 23.5 lakh. There is a 7.7% increase from last year’s Rs 21.8 lakh. However, despite the rise, only fewer students could secure placements through the campus drive compared to the previous year. It highlighted the challenges of the current job market.
Sector-Wise Recruitment
The core engineering and technology sectors came into view as the top recruiters, with 430 students placed in 106 companies. The hiring in the Information Technology sector also increased. 113 positions were offered by 33 firms in the finance sector. However, the consulting saw a decline, with only 117 offers made by 29 companies compared to previous years.
Average vs. Lowest Packages
The average package increased positively. However, the lowest package dropped from Rs 6 lakh to Rs 4 lakh per annum. It indicated a greater disparity in compensation offers.
Global And Domestic Influences
A mild global economic slowdown accompanied by geopolitical issues (e.g., war with Ukraine) played its part in affecting placement dynamics. Less number of international roles and a slow start to Phase 2 placements with the motion gained strong momentum later.
Total Placement Statistics
A total number of 558 offers with compensation packages exceeding Rs 20 lakh per annum. 78 international offers were accepted. Adding to it, 22 offers exceed Rs. 1 crore annually. Placement percentage is around 75%, including 15% of students finding jobs independently.
IIT Bombay’s 2024 placement season shows two sides: higher average salaries but more difficulty in securing job offers. The core sectors like engineering, IT, and finance are still hiring strongly. But there is a drop in the lowest salary and fewer job placements in the market. Despite these challenges, IIT Bombay continues to be a great source for recruiters, both in India and around the world.
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