Overseas placement at IIT-Bombay: Rs. 3.7 Crore annual salary

Overseas placement at IIT-Bombay: The Indian Institute of Technology Bombay, which recently concluded its annual placements, reported its greatest annual international and domestic salaries to be Rs 3.7 crore and Rs 1.7 crore, respectively. Last year, the highest annual international compensation was Rs 2.1 crore, while the highest annual domestic salary was Rs 1.8 crore.

The engineering and technology sector recruited the most candidates, with average compensation slightly higher than the previous year’s figures. Recruiting for IT/software was lower than the previous year. This academic year, the average annual salary on campus is Rs 21,8 lakh, compared to Rs 21,5 lakh and Rs 17,9 lakh in 2021-22 and 2020-21, respectively.

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Overseas placement at IIT-Bombay

This year, 16 offers of over Rs 1 crore per annum were offered. And pupils accepted 194 of the total 300 pre-placement offers, including 65 international offers. However, there were fewer international offers than the previous year.

“This year, firms from the United States, Japan, the United Kingdom, the Netherlands, Hong Kong, and Taiwan made international offers. Due to the conflict in Ukraine and the sluggish global economy, the number of international job proposals was comparable to the previous year, according to the placement office.

Phase one of placements at IITs occurs in December, while phase two occurs between January and June/July. The engineering and technology sector recruited the most individuals; 458 were chosen by 97 core engineering companies for entry-level positions; 302 students were offered IT/software employment by over 88 companies, making the IT sector the second largest recruiter after engineering. However, IT and software hiring decreased compared to the previous year.

Nearly 90% of B.Tech, dual degree, and M.Tech students who participated in placements obtained employment. Overall, 82% (1,516) of the total number of pupils who actively participated in placement season 2022-23 (1,845) were successfully placed. With 31% of applicants finding employment, the PhD recruitment was a tad dull.