Every Student Must Know
The 2023-24 placement season at IIT Bombay has left a mixed impression. While the average salary package saw a substantial rise of 7.7%, reaching ₹23.5 lakh per annum, the minimum salary package took a significant plunge to ₹4 lakh per annum—the lowest ever recorded at the institution.
Key Data Points
Placement Rate: Out of the total students eligible, only 75% secured placements, a noticeable drop from the previous year’s 82%. This left over 1,000 students unplaced.
Job Offers: Despite the lower placement rate, 1,475 job offers were accepted, with a significant rise in international placements. A total of 78 international offers were made, with 22 offers exceeding ₹1 crore per annum.
While some students walked away with lucrative offers, the gap between high-paying and low-paying jobs widened. The drastic drop in the minimum salary reflects a challenging economic environment for entry-level positions in India, despite the boom in certain sectors like AI, machine learning, and automation. IIT Bombay consistently ranks among the top institutions worldwide, attracting global tech giants. In recent years, companies such as Google, Microsoft, and Apple have been key recruiters, offering packages well above ₹1 crore per annum.
Sector-Wise Placements (It gives mild idea about future Trend, So Choose wisely)
1.Engineering & Technology: The largest recruiter, with 430 students securing jobs in 106 companies.
2.Finance Sector: Made a strong showing with 113 offers from 33 firms, reflecting growing demand in fintech and trading sectors.
3.Information Technology: Hiring remained steady, accounting for a large number of the total placements
4.Industry Trends: The research and development (R&D) sector saw participation from 36 organizations, offering 97 positions in cutting-edge fields like AI, machine learning, energy solutions, and semiconductors
This year’s placement trends at IIT Bombay highlight a growing divide between high-paying and low-paying job offers, underscoring the rising importance of advanced skills such as AI and data science. While strong academic performance, like JEE or NEET ranks, might help secure admission, the modern job market demands much more than book knowledge. Employers now expect students to excel beyond textbooks, embracing practical, tech-driven skills and a readiness to adapt to industry shifts.
Success is increasingly defined by one’s ability to innovate and stay updated with emerging technologies, making continuous learning crucial for future career growth.
Abhishek.N,
Author of NEST KCET Mathematics,
Founder & CEO, Examtech Learning Limited (R.)
NEST PUBLICATIONS(R.)
Karnataka’s Best Publication for NEET and KCET Materials.
