IIT Bombay (IITB) has concluded its 2024 placement season. While global hiring is frozen, placements at IITB saw a marginal improvement of 7.8% in their average package. Computer Science, Electrical Engineering, and Mechanical Engineering branches saw the most placements with 230, 232, and 229 placements respectively.
IIT Bombay 2024 Placement Report
In a relatively tough year for college placements, IIT Bombay's average annual package for 2024 is 23.5 LPA. This represents an increase from the previous year's placement, which closed at 21.8 LPA. This year, students received close to 550 offers from various domestic and international companies.
Download : IIT Bombay 2023-2024 Placement Report
While there is an incremental increase in the average annual LPA, the lowest package for the batch dropped to 4 LPA, which is a significant decrease from 6 LPA in 2023.
On the brighter side, 22 students received offers worth more than 1 Cr per year. This demonstrates the college's strong standing among recruiters. Most offers were made by MNCs from across the world.
The global economic conditions and a slowdown in job markets were cited as major reasons for this decrease in job opportunities. While IITB was able to maintain its status, tier 2 and 3 colleges are still struggling to find good placement opportunities for their students. This slowdown is likely to continue for some time until we see any major investments coming to India again.