IIT-B Placement Report 2024: A Mixed Bag of Results
Overview of Placement Trends
The placement season at the Indian Institute of Technology, Bombay (IIT-B), wrapped up for 2024, revealing a complex picture. The average annual salary package offered to graduates rose to Rs 23.5 lakh, marking a notable increase from last year’s Rs 21.8 lakh—a growth rate of approximately 7.7%. However, this positive trend in compensation is overshadowed by a decline in the overall number of students successfully securing jobs through campus recruitment.
Decline in Job Offers and Salary Floors
This year saw a reduction in the minimum salary threshold for hiring IIT-B graduates; companies are now allowed to offer as little as Rs 4 lakh per annum instead of the previous floor of Rs 6 lakh. Alarmingly, ten students received job offers within this lower range, highlighting potential challenges faced by some graduates entering the job market.
Despite these setbacks, there were still significant opportunities available: a total of 558 job offers were extended by 123 different companies with gross compensation packages exceeding Rs 20 lakh annually. Additionally, another set of around 230 offers fell between Rs 16.75 lakh and Rs 20 lakh.
Increased Participation from Companies
According to reports from IIT-B’s placement cell, there was an encouraging uptick in company participation—12% more firms engaged with the institute compared to last year’s figures. In totality, international placements accounted for about 78 positions, while 22 roles offered salaries surpassing ₹1 crore annually were accepted during this recruitment cycle.
However, external factors such as geopolitical tensions stemming from events like the Ukraine conflict and an overall sluggish global economy have led to fewer international recruiters participating this year.
Job Distribution Among Sectors
The distribution across sectors revealed that multinational corporations (MNCs) played a significant role in hiring; 775 students secured positions within these firms, while 622 found opportunities with domestic companies. The second phase of placements experienced slower momentum initially but gained traction post-April when approximately 300 additional job offers materialized.
Of all participating students at IIT-B during this cycle—543 companies registered interest—388 actively took part in recruitment efforts leading to 364 successful job offers being made.
While around 75% secured jobs through campus placements, an additional 15% managed to find employment independently, showcasing resilience among those who sought alternative pathways into their careers or opted for further studies instead.
Sector-Specific Insights on Recruitment Trends
In terms of sector-specific hiring trends:
- The engineering and technology sectors emerged as dominant recruiters with 430 candidates placed across106 core engineering firms at entry-level roles.
- Information Technology (IT) witnessed slightly higher demand than previous years.
- Conversely, consulting saw reduced activity; only 117 positions were filled by29 consulting firms, indicating potential shifts or saturation within that sector.
- Financial services remained robust with over 113 roles offered by33 financial institutions, reflecting ongoing demand despite economic uncertainties.
Emerging fields such as artificial intelligence (AI), machine learning (ML), product management related roles along with data science and analytics also exhibited strong hiring patterns throughout this period.
In contrast:
- The education sector had limited engagement—with just eleven organizations offering only thirty positions.
- Research and development attracted interest primarily from industries focused on automation technologies including energy science and battery innovation where thirty-six organizations provided ninety-seven openings specifically aimed at PhD candidates; however only thirty-two outof118 active participants secured these specialized roles.
Overall analysis indicates that while IIT-B continues its legacy as one among India’s premier institutes producing highly skilled professionals ready for diverse industries—the current landscape presents both challenges alongside promising opportunities reflective not just locally but globally too amidst evolving market dynamics affecting graduate employability rates significantly moving forward into future academic cycles ahead!
I AM A HIGHSCHOOL STUDENT . BEING CREATIVE I LIKE TO WRITE A LOT OF GOOD CONTENT . I HAVE WRITTEN SO MANY ARTICLES,ESSAYS AND STORIES IN MY LIFE AND I AM PASSIONATE TO CONTINUE DOING IT . I MAINLY WRITE ARTICLES ON TRENDING TOPICS AND I ALSO ENJOYING READING ARTICLES .
