IIT Bombay Placements 2024 : 75% of Students Secure Jobs, Average Salary Package Increases

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Around 75% of students at the Indian Institute of Technology (IIT) Bombay got jobs during the 2023-24 campus placements. IIT Bombay shared its placement report on Tuesday morning.

The report shows that 2,414 students signed up for the placement drive, which is 11% more than last year. The institute had its second-highest number of placements ever, with 1,475 students securing jobs, just slightly below the record of 1,516 placements in 2022-23.

Despite economic challenges, three out of four students landed the job profiles they wanted, resulting in a 75% placement rate. The average salary packages, based on Cost to Company (CTC), increased by 7.7%, rising from INR 21.82 LPA last year to INR 23.5 LPA. This increase reflects the job market's recovery as the economy continues to bounce back from the impact of COVID-19.

The number of companies recruiting this year increased to 364, which is 12% more than the 324 companies last year. The report highlights a strong improvement in mechanical engineering placements, with 217 students placed this year compared to 171 last year. However, there was a drop in placements for computer science students, with 242 students placed this year, down from 273 last year.

The report also notes that most of the unplaced students have found other ways to secure employment. Some chose higher studies, self-employment, or starting their own businesses instead of taking the job offers they received. Nearly all the companies that participated honored their job offers. Additionally, 32 PhD students out of 118 who registered accepted placement offers.

Placement Details	Numbers
Total number of registered students	2,414
Number of active participants	1,979
Total number of accepted offers	1,475
Total number of job offers	1,650
Job offers above INR 1 crore accepted	22
Pre-placement offers accepted	258
International job offers	78
Average CTC from allocated offers (in INR)	INR 23.50 LPA
Median Salary	INR 17.92 LPA
Top recruiting sector	Engineering and Technology

Placement Details Based on Salary Offered

Range of gross salary (in Rs, lakh per annum)	Number of offers	Number of companies
Above 20	558	123
Between 16.75 to 20	230	70
Between 14 to 16.75	227	60
Between 12 to 14	93	29
Between 10 to 12	161	46
Between 8 to 10	128	43
Between 6 to 8	68	25
Between 4 to 6	10	7

As many as 78 students secured placements outside India while 775 got placed in MNCs in the country while 622 landed jobs in other Indian companies.

Key Details	Numbers
Placement Outside India	78
Placements in MNCs in India	775
Placements in Indian Companies	622
TOTAL	1475

Previous Year Trends : Number Of Companies Recruiting Campus Placements

ACADEMIC YEAR	NUMBER OF COMPANIES RECRUITING CAMPUS PLACEMENTS
2016-17	294
2017-18	322
2019-20	313
2020-21	292
2021-22	332
2022-23	324
2023-24	364

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