The Indian Institute of Technology Bombay (IIT Bombay) has concluded its placement season for the academic year 2023-24 on a high note, with 1,475 students securing placements, according to a recent statement released by the institute.
The average package offered during the IIT Bombay placements 2023-24 stood at an impressive Rs 23.5 lakh per annum (LPA). Notably, 22 students received offers with annual packages exceeding Rs 1 crore, highlighting the robust demand for talent from the prestigious institution.
The Engineering and Technology sector emerged as the top recruiter, hiring the highest number of students. A total of 430 students were placed in 106 core engineering companies, primarily in entry-level positions. The Information Technology sector also witnessed significant recruitment activity, with over 84 companies offering positions to 307 students, making it the second largest recruiting sector after engineering.
The placement season also saw a dip in consulting offers compared to the previous year, with only 117 offers made by 29 consulting firms. Despite this, sectors such as Trading, Banking, and Fintech continued to recruit actively, contributing to the 113 offers made by 33 financial services firms. Emerging fields such as Artificial Intelligence, Machine Learning, Product Management, Mobility, 5G, Data Science, Analytics, and Education saw a surge in hiring, reflecting evolving industry trends.
IIT Bombay’s placement season also experienced a 12 percent increase in the number of recruiting companies, with 543 companies registering for the placement process. Out of these, 388 companies actively participated, and 364 made offers. The institute recorded over 1,350 unique job profiles.
The placement drive also had a significant international component, with students accepting 78 international offers from companies based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands, and Hong Kong, an increase from 65 international offers in the previous year. However, the ongoing global economic challenges and geopolitical tensions appeared to have affected the number of international recruiters this season.
The 2023-24 placement season at IIT Bombay saw participation from a wide range of sectors, including Core Engineering, Information Technology, Software Programming, Research and Development, Consulting, Finance, Banking, High-end Technology, and Technical Services. The placement drive, which commenced in July 2023, concluded on July 7, 2024.