IIT Placement 2024: Passed the world’s second toughest exam, IIT-JEE. Also got a seat in a prestigious institute like Indian Institute of Technology (IIT) Bombay. There is a plethora of companies for campus placements, in fact, compared to previous years, the number of companies recruiting on campus has increased by 12 percent. Despite this, it is surprising that IIT students get an annual package of Rs 4 lakh, while 25 percent of the students remained empty-handed.
In fact, the Indian Institute of Technology (IIT) Bombay has completed the placement process for the academic year 2023-24. This year the number of companies recruiting on campus increased by 12 percent. The total number of companies offering jobs has increased from 324 companies last year to 364. Still, this year the minimum annual package given to the students has been Rs 4 lakh and 25% i.e. 8000 IIT placements did not happen.
IIT placements were worse than last year
IIT Bombay has released the placement report for its academic year 2023-24. It has a poor placement record as compared to 2022-23. Last year, 82% of the students registered for placement got jobs, while this year 75% of the students have been placed. Last year (2022-23), 324 companies offered jobs to 1788 students on campus. This time 364 companies have reached the campus. This year, out of 1979 registered students, 1650 have received job offers, 1475 have also accepted the offer. However, this year the average salary package has increased from 21.82 LPA to Rs 23.50 lakh per annum.
Highest and lowest IIT packages
This year 10 students got packages ranging from Rs 4 lakh per annum to Rs 6 lakh per annum. Whereas 68 students got packages ranging from 6 LPA to Rs 8 lakh per annum. And 128 students got packages ranging from Rs 8 lakh per annum to Rs 12 lakh per annum. There were 22 offers of more than Rs 1 crore per annum, while 558 students accepted offers with packages of more than 20 LPA, 230 students got offers in the range of ₹16.75-₹20L per annum.
78 got international job offers
Around 78 students received international offers, an increase from 65 offers last year. These offers came from various firms based in Japan, Taiwan, Europe, UAE, Singapore, USA, Netherlands and Hong Kong.
IT companies have the highest number of placements, engineering is at second place
Engineering and technology students have received the highest number of job offers this year. A total of 430 students were placed in 106 core engineering companies, while in the information technology (IT) sector, more than 84 companies offered jobs to 307 students, making it the second largest recruitment sector after engineering. According to the report, placements of mechanical engineering students have increased, with 217 students getting placed this year compared to 171 last year. However, the number of computer science students has declined, with 242 students getting placed this year compared to 273 last year.
The trend of industries is changing
Sectors such as trading, banking and fintech remained active in recruitment, with 113 offers made by 33 financial services firms. Offers have increased in new areas such as artificial intelligence (AI), machine learning, product management, mobility, 5G, data science, analytics and education, reflecting the changing trends of the industry. Consulting offers also saw a decline this placement season compared to last year, with only 117 offers made by 29 consulting firms.
What about those who didn’t get offers?
A statement from the institute said that last year’s placement numbers were the highest, and this year’s is the second highest. Of the remaining unplaced students, 435 have opted for higher studies instead of jobs, while some want to set up their own business, while many have opted for civil services.
Source (PTI) (NDTV) (HINDUSTANTIMES)