25Pc of IIT Bombay Graduates Fail to get Placements
By : DC Web Desk
Update: 2024-09-04 11:29 GMT
A notable drop has been reported in the minimum package of the Indian Institute of Technology (IIT) Bombay, during its placement season. The lowest offer has fallen to Rs 4 lakh per annum, which is a significant decrease from last year's 6 lakh figure.
However, the annual package at IIT Bombay rose by 7.7 percent to Rs 23.5 lakh compared to 21.8 lakh the last year.
Meanwhile, only 75 percent of the students participated actively in the campus drive securing jobs due to which the success rate of the overall placement has taken a hit.
This also represents a decline in comparison to the 82 percent placement rate with 1,475 job offers accepted, of last year.
Despite the decline in job acceptance rate, the campus drive had the participation of 364 companies, which was more than the participation of 324 companies last year.
In international Job offers, IIT Bombay has recorded a surge, with 78 accepted across both phases of the placement season, including 22 offers that surpassed the Rs 1 crore per annum mark.
Recruitment was spearheaded by the engineering and technology industry, which chose 430 students from 106 main engineering firms.
In addition, hiring in the information technology industry increased a little over the prior year. Representatives from 33 financial service companies submitted 113 proposals to eminent recruiters in the trading, banking, and fintech sectors.
Overall, 622 students were hired by Indian companies, while 775 students were placed in global corporations in India. While the education sector attracted 11 firms, providing just 30 job offers, the design industry provided 33 positions from 17 organizations—a reduction from the previous year.
In the research and development industry, 36 businesses offered 97 posts (which includes a variety of subjects like automation, energy science, and artificial intelligence) during the 2023–24 placement season.