IIT Bombay Placement 2023 Records Highest Ever Overseas Offer of INR 3.7 Crore; Check Details Here

New Delhi: In the recently concluded annual placements, the Indian Institute of Technology (IIT) Bombay recorded its highest annual foreign and domestic wages with companies offering INR 3.7 crore and INR 1.7 crore, respectively, for placements abroad and domestically.

The engineering and technology industry hired the most people, according to IIT Bombay, with an average wage of INR 21.8 lakh per year (CTC), compared to INR 21.5 lakh and INR 17.9 lakh in 2021–22 and 2020–21, respectively.

A total of 458 students were hired at entry-level roles by 97 core engineering companies, while 302 students received offers from more than 88 companies for IT/software professions. As a result, behind engineering, the IT industry became the second-largest recruiter.

For this year, 90% of B.Tech, dual degree, and M.Tech program participants who took part in placement secured employment. 1516 out of the 1845 students that actively participated in the placement season for 2022–2023 were placed overall. However, just 31% of PhD program’ graduates were hired, which was a bit disappointing.

This year, 300 recruitment offers from various firms totalling more than INR 1 crore per year were presented to the students. The students have accepted 194 of these offers, including 65 offers from abroad. The number of international offers was lower than it was the year before.

"Companies with headquarters in the US, Japan, UK, Netherlands, Hong Kong, and Taiwan made overseas offers this year. The amount of international offers was comparable to last year because of the conflict in Ukraine and the weak global economy," according to the placement agency.

Last year, the highest salaries offered were INR 2.1 crore for an international offer and INR 1.8 crore for a local offer. IIT placements are carried out in two stages. Phase One begins in December, while Phase Two runs from January to June/July.

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