IIT-Bombay sees record Rs 3.7 crore international offer; engg firms top recruiters | Mumbai News – Times of India

MUMBAI: IIT Bombay, which has concluded its annual placements, recorded its highest ever international offer at Rs 3.7 crore a year while the top domestic salary offered was Rs 1.7 crore.
Last year’s highest annual international salary was Rs 2.1 crore, but the domestic salary was higher at Rs 1.8 crore a year.
The engineering and technology sector recruited the highest numbers with average compensation a tad above the figures recorded last year. IT/software hiring saw a dip. The average salary this season on the Powai campus is Rs 21.8 lakh per annum (CTC) against Rs 21.5 lakh and Rs 17.9 lakh in 2021-22 and 2020-21 respectively.
This year, 16 offers of over Rs 1 crore per annum were made. And of the total 300 pre-placement offers, 194 were accepted by students, including 65 international offers. But international offers were less than in the previous year.
Sixteen offers of Rs 1 crore and above were made at the IIT Bombay annual placements this year. “The international offers were made by firms based in the US, Japan, the UK, the Netherlands, Hong Kong and Taiwan. Due to the war in Ukraine and the subdued global economy, the number of international offers were similar to last year,” said the placement office.
Placements in IITs are held in two phases: the first one in December and the second between January and June/July. The engineering and technology sector recruited the highest numbers—458 were selected by 97 core engineering companies at entry-level positions; 302 students have been offered IT/software jobs by over 88 companies, making the IT sector second largest recruiter after engineering. Nevertheless, IT and software hiring were less compared to last year.
Of students in the B.Tech, dual degree and M.Tech programs, close to 90% of those participating in placements bagged jobs. Overall, 82% (1,516) of the total students (1,845) who actively participated in placement season 2022- 23 were recruited. The PhD recruitment was a bit damp with barely 31% getting jobs.