75% Placement Rate At IIT Bombay, 8,000+ Students Unplaced

The placement season at IIT Bombay for the 2023-2024 academic year has concluded with a modest 7.7 per cent increase in compensation, bringing the average annual package to Rs 23,50,000, up from Rs 21,80,000 last year. However, the placement rate dropped to 75 per cent, leaving around 8,000 IITians still seeking employment despite the campus drive.

The lowest package offered this year was notably low at Rs 4,00,000, with ten students accepting offers between Rs 4,00,000 and Rs 6,00,00 per annum. On the higher end, 22 students received packages exceeding Rs 1,00,00,000, and 78 students secured international offers. Additionally, 558 students received packages over Rs 20,00,000 PA, while 230 settled for offers ranging from Rs 16,00,000 PA to Rs 20,00,000 PA. Although only 75 per cent of students were placed.

According to media reports, amid a hiring freeze and job market challenges, over 8,000 of the 21,500 students registered for the 2024 placement drive across India are still job hunting. This is a significant increase from the previous year's 4,170 unplaced candidates out of 20,000 registered students.