In a remarkable start to the placement season, IIT-Bombay proudly announced that 85 of its students have secured job offers surpassing the coveted ₹1 crore mark. The initial phase of placements at the prestigious institute showcased the dominance of the research and development sector, offering an impressive average annual salary of Rs 36.9 lakh, marking a notable increase from the previous year’s Rs 32.25 lakh.
Conversely, the finance sector, predominantly occupied by algo trading firms, witnessed a 22% decline in average yearly compensation, dropping to Rs 32.4 lakh from the previous year’s Rs 41.7 lakh.
Other sectors, including IT/software and consulting, experienced a marginal uptick in the overall average pay during the first phase of campus placements. The institute released the detailed report of this successful phase on Thursday night, unveiling the diverse opportunities presented to its talented pool of students.
The international job market played a significant role in this placement season, with most of the lucrative offers coming from countries such as Japan, Taiwan, South Korea, Netherlands, Singapore, and Hong Kong. Despite prevailing global and economic uncertainties, IIT-Bombay reported a total of 1,340 offers by December 20, resulting in 1,188 students successfully securing placements. This figure includes seven students placed in Public Sector Undertakings (PSUs) and 297 Pre-Placement Offers (PPOs) extended through internships, of which 258 were accepted.
