IIT-Bombay Graduate Gets Record International Job Offer of Rs 3.7 Crore in Annual Placement Drive

During the recent annual placement drive at the Indian Institute of Technology, Bombay (IIT-Bombay), the institute achieved its highest international job offer of Rs 3.7 crore per year. Additionally, a student secured a domestic placement with a package of Rs 1.7 crore, reflecting significant growth compared to last year’s international offer of Rs 2.1 crore and a slightly higher domestic offer of Rs 1.8 crore annually.

The institute has not disclosed the names of the recipients of these offers.

IIT-Bombay students accepted a total of sixteen job offers with annual salaries surpassing Rs 1 crore. They also agreed to 194 out of 300 pre-placement offers, as reported in the 2022-23 placement release.

A total of 2,174 students were registered for campus placements from July 2022 to June 2023, with 1,845 actively participating, marking the highest participation to date.

This year, students at IIT-Bombay received 65 overseas job offers from organizations based in the United States, Japan, the United Kingdom, the Netherlands, Hong Kong, and Taiwan. In contrast to previous placement seasons where average offers were Rs 21.50 lakh per year (2021-2022) and Rs 17.91 lakh per year (2020-2021), the 2022-2023 placement season saw an average package of Rs 21.82 lakh per year.

The engineering and technology sector witnessed the highest number of placements, with 458 students securing entry-level positions across 97 key engineering companies. Compared to the previous year, there were fewer hirings in the information technology and software sectors. Nonetheless, 302 students received job offers from over 88 companies in the IT/software sector. The main recruiters were trading, finance, and fintech companies, offering a total of 76 vacancies from 32 financial service firms. Roles in product management, mobility, data science, analytics, and education were highly sought after.

Overall, 82 percent of students actively participating in the 2022-23 placement drive secured placements. Almost 90 percent of students from BTech, dual-degree, and MTech programs secured job placements.