IIT-Bombay records highest, most lucrative placements this year

Mumbai: The IIT-Bombay has notched an all-time record in the number of placement offers along with lucrative pay packages for its students at the end of the first phase of recruitments in the current season, officials said on Wednesday.

This year (2021-2022) has seen a total of 1,382 offers accepted compared with 973 last year and 1,172 the year before that, comprising both pre-placement and campus placement offers.

The IIT-B has also received the highest domestic CTC package of Rs 1.68 crore annually, the top-most international package is around Rs 2.17 crore per year, and the average CTC of all recruitments this year stands at around Rs 25 lakh per annum.

The lion's share of the placements came from the engineering and technology sector, ascertaining the technical proficiency of IIT-B students.

In terms of the average CTC, the finance sector topped with Rs 28.40 lakh per year, followed by IT-Software (Rs 27.05 lakh pa), R&D (Rs 25.12 lakh pa), Engineering & Technology (Rs 21.54 lakh pa) and Consulting (Rs 18.02 lakh pa).

The number of international and domestic offers above Rs 1 crore per annum are 7 and 5 respectively, as the IIT-B Placement Office focused on connecting with growing start-ups and industry with diverse roles to tackle the market slowdown.

A total of 315 companies participated in the first phase, including 2 PSUs with 9 offers, and more PSUs are likely to join in the second phase of the placement season.