More jobs and better salaries at IIT-Bombay placements this year

The first phase of placements at the Indian Institute of Technology-Bombay (IIT-B) saw a rise in the number of jobs and average salaries being offered to students compared to last year.

The first phase of placements was conducted between December 1 and 16.

According to the annual placement report of IIT-B, the average salary received by half the students last year was Rs9.38 lakh an annum, a slight dip compared to the previous six years.

“The approximate average for domestic offers this year is around Rs11.50 lakh an annum and that for international offers is Rs40 lakh an annum. The number of jobs offered in the first phase is also higher than 2016, with almost 1,011 offers (including pre-placement offers),” said an official statement released by the institute on Wednesday morning.

HT had previously written about public sector undertakings (PSUs) taking a setback in the placements season at
IITs across the country this year.

While some IITs didn’t have a single PSU on board until the start of the placement season in the first week of December, IIT-B managed to get three PSUs on board, making a total of 21 offers to students this year. “A few other PSUs are also expected to show up in the second phase,” read the statement.

IITs across the country also witnessed an increase in the number of international job offers this year with Microsoft taking the lead with the highest salary offered to a student this time.

“This year saw an increased interest in international companies, especially from USA and Japan. We received 74 international job offers from more than 38 companies in the first phase, compared to 64 jobs in 2016,” said a spokesperson for IIT-B.