IIT Bombay graduate bags highest-ever international offer of Rs 3.7 crore per year

IIT Bombay graduate bags highest-ever international offer of Rs 3.7 crore per year

IIT Bombay recently concluded its annual placement drive, achieving a milestone with its highest-ever international offer of Rs 3.7 crore per year, while the top domestic salary reached Rs 1.7 crore per year.

Compared to the previous year’s highest international annual salary of Rs 2.1 crore, this marks a significant increase. However, it’s worth noting that the domestic salary in the previous year was slightly higher at Rs 1.8 crore per year.

According to a TOI report, the engineering and technology sector witnessed the highest recruitment numbers, with average compensation just slightly above last year’s figures. On the Powai campus, the average salary for the season stood at Rs 21.8 lakh per annum (CTC), compared to Rs 21.5 lakh and Rs 17.9 lakh in the preceding two years, 2021-22 and 2020-21, respectively.

In the latest placement drive, 16 offers exceeding Rs 1 crore per annum were extended, with 194 of the total 300 pre-placement offers being accepted by students, including 65 international offers. However, it’s notable that there were fewer international offers this year.

These international offers came from firms based in the US, Japan, the UK, the Netherlands, Hong Kong, and Taiwan. The placement office attributed the similarity in the number of international offers to factors such as the war in Ukraine and the subdued global economy.

IIT Bombay conducts placements in two phases, the first in December and the second between January and June/July. The engineering and technology sector remained the largest recruiter, with 97 core engineering companies selecting 458 students for entry-level positions. The IT sector followed as the second-largest recruiter, with over 88 companies offering jobs to 302 students. However, IT and software hiring saw a decrease compared to the previous year.Among B.Tech, dual-degree, and M.Tech program students, nearly 90% of those participating in placements secured jobs. Overall, 82% of the total students actively involved in the 2022-23 placement season (1,516 out of 1,845) were recruited. However, PhD recruitment experienced lower success, with only 31% of candidates finding employment.

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Author: Shirley