IIT Bombay has reported a significant drop in its minimum salary package

The lowest annual package offered to students has decreased to Rs 4 lakh

The placement season saw a notable increase in international offers

In a surprising turn of events, the Indian Institute of Technology (IIT) Bombay has reported a significant drop in its minimum salary package for the recent placement season. The lowest annual package offered to students has decreased to Rs 4 lakh, down from Rs 6 lakh last year.

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Average Package and Placement Rate

Despite the fall in the minimum salary, the average annual package at IIT Bombay has risen by 7.7 percent, reaching Rs 23.5 lakh compared to Rs 21.8 lakh in the previous year. However, the overall placement rate has declined. Only 75 percent of students who actively participated in the campus drive secured jobs, with 1,475 job offers accepted, a decrease from last year’s 82 percent placement rate.

International Offers and Sector Trends

The placement season saw a notable increase in international offers, with 78 accepted, including 22 offers exceeding Rs 1 crore per annum. The engineering and technology sector was the largest recruiter, selecting 430 students across 106 core engineering companies. The Information Technology sector also showed a slight increase in hiring.

Sector-Specific Insights

In addition, trading, banking, and fintech companies were significant recruiters, with 113 offers from 33 financial service firms. Multinational corporations in India hired 775 students, while 622 students were placed in Indian firms. The design and education sectors saw fewer job offers compared to last year. The research and development sector remained active, with 36 organizations offering 97 positions.