IIT Bombay, after completing its annual placement season, achieved a new milestone with its highest-ever international offer of Rs 3.7 crore per year, alongside the top domestic salary offer of 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, TOI reported.
There was a decrease in IT/software hiring, but the average salary for this season at the Powai campus stands at Rs 21.8 lakh per annum (CTC), showing an increase from Rs 21.5 lakh in 2021-22 and Rs 17.9 lakh in 2020-21. In the current year, there were 16 offers exceeding Rs 1 crore annually. Out of a total of 300 pre-placement offers, 194 were accepted by students, with 65 of them being international offers. However, the number of international offers was lower compared to 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. Nearly 90% of students enrolled in B.Tech, dual degree, and M.Tech programs who took part in the placement process successfully secured employment.