IIT Bombay Placements: Student Receives Salary Offer of Rs 3.7 Crore

IIT Bombay just completed its annual placement season, accomplishing significant accomplishments. IIT Bombay has received its highest-ever overseas employment offer, paying Rs 3.7 crore per year. In contrast, the highest domestic compensation offered is Rs 1.7 crore. Compared to the previous year, the highest annual foreign wage increased significantly from Rs 2.1 crore to Rs 1.7 crore, but the domestic salary remained competitive at Rs 1.7 crore per year.

Engineering and technology sector remained the top choice for IIT Bombay graduates

With a stable average remuneration level compared to the previous year, the engineering and technology sector remained the top choice for graduates. However, there was a modest decrease in hiring for IT/software. The average remuneration at the Powai campus this season was Rs 21.8 lakh per annum (CTC), up from Rs 21.5 lakh and Rs 17.9 lakh in the 2021-22 and 2020-21 academic years, respectively.

Notably, 16 offers this year above Rs 1 crore per annum. Students accepted 194 of the 300 pre-placement offers, including 65 overseas ones. While the number of overseas requests was significantly fewer than the previous year, IIT Bombay continues to be a popular choice for both domestic and international recruiters. The 16 offers of Rs 1 crore or more came from corporations in the United States, Japan, the United Kingdom, the Netherlands, Hong Kong, and Taiwan. The placement bureau attributed similar international offers to Ukraine's ongoing turmoil and the weak global economy.

IITs conduct placements in two stages: the first in December and the second between January and June/July. The engineering and technology sector received the most placements, with 458 students chosen for entry-level roles by 97 key engineering businesses.

FAQ's

What is the highest pay package available at IIT Bombay?

IIT Bombay recently completed its annual placement drive, setting a record with its highest-ever overseas offer of Rs 3.7 crore per year, while the top domestic wage was Rs 1.7 crore per year.

How many students at IIT Bombay receive a one-crore package?

25 students at the IIT Bombay placement session 2022-23, there were 71 international offers. And 25 students accepted employment offers with annual salaries exceeding one crore rupees.

Which IIT has the best placement rate?

IIT Hyderabad offers the highest placement package, which is Rs 20 LPA.