IIT-Bombay sets record, gets 1,270 job offers in first phase
IIT-Bombay has set a new record in securing an all-time high in the number of job offers, as the first phase of the placement season ended last week. This year, the campus received 1,270 job offers from 361 companies, of which 1,122 (including pre-placement offers) were accepted. The institute also saw an increase in number of international offers and average salary package. Here's more.
Highest international package: Rs. 1.14cr/annum; highest domestic: Rs. 45L/annum
The number of international offers received at IIT-Bombay increased from 65 last year to 89 this year. The international job positions are based in the US, Japan, the Netherlands, Singapore, Taiwan, and South Korea. Microsoft offered the highest international package at Rs. 1.14 crore for various positions at their Redmond, Washington office. Meanwhile, the highest domestic offer this year was at Rs. 45 lakh/annum.
Average salary package jumped from Rs. 12-13L/annum to Rs. 17.75L/annum
Besides the steep rise in the number of job offers, the institute also witnessed a jump in the average salary package offered in the first phase- from Rs. 12-13 lakh/annum last year to Rs. 17.75 lakh/annum this year. Sector-wise, engineering and technology firms gained the maximum students. The average pay package was the best in IT/Software sectors with a CTC of Rs. 21.29 lakh/annum.
70% of registered students have already been placed
A spokesperson of the institute said 45 first-time recruiters also took part. Also, three PSUs offered 13 jobs in this phase. Overall, there was a 20% increase in the number of companies registering to offer jobs. Of the total students registered, 70% have already been placed in this phase. However, some students claimed not all registered opt for placements, some pursue higher studies too.
Next phase of placements to begin in January
An official statement from the placement cell of the institute said, "Statistics this year proved IIT-Bombay was the most preferred destination for recruiters." The statement further said the rise in the number of offers occurred due to the "adoption of new placement policies respecting both students and companies, allowing alumni mentoring and common aptitude test." The next phase of placements will begin in January.