IIT Bombay Placements: Average Salary Rises to Rs 26.45 Lakh Despite 70 Per cent Dip in Hiring Rate

Indian Institute of Technology has released its placement season report, and it shows a decrease in the overall hiring rate to 70 per cent, which came down from 75 per cent as compared to the previous year. However, with one positive update and defying the global market slowdowns, the average annual salary in terms of figures has improved slightly by over 10% to reach Rs. 26.45 Lakh, with the median salary climbing to Rs. 20 Lakh.

IIT Bombay: Salaries Defy Global Slowdown as Hiring Rate Reaches 70%

Indian Institute of Technology, IIT, Bombay, has released its placement report for the 2024-25 academic year, revealing a complex landscape of rising compensation paired with a cautious hiring environment. While the institute recorded an increase in average and median salaries, the overall percentage of students placed has faced a marginal decline compared to the previous year's placement season. According to the report published, approximately 70 per cent of the 2040 students who participated in the placement process secured job offers.

This is a slight dip from the 75% placement rate, which was recorded in the 2023-24 placement season. Despite the dip, the financial outcomes for those students who were placed were significantly stronger. The average annual Cost to Company, CTC rose by 10%, jumping from last year’s figures to Rs. 26.45 lakh per annum. The median salary also saw an increase, reaching Rs. 20 Lakhs.

IIT Bombay: Sector-Wise Top Recruiters and Highlights

The engineering and technology sector of the IIT Bombay remained the primary driver of recruitment, contributing 429 offers. It was followed closely by the IT and software coding sector with 316 offers. Other significant contributors to the placement season included Consulting, 126 offers, Data Analytics, 114 offers, and Finance, 112 offers were made.

There were only 65 international offers made and accepted from firms across Japan, Taiwan, Europe, and the US. Notably, the Computer Science and Engineering department maintains its prestige, placing 258 out of 277 participating students. The institute noted that many students opted out of the placement cycle to pursue entrepreneurship, higher studies, or postdoctoral research, particularly among PhD candidates.