IIT Bombay has officially denied imposing a ₹6 lakh minimum salary for placements. The rumors stemmed from its 2023-24 placement report, which recorded seven companies offering salaries between ₹4 lakh and ₹6 lakh to 10 students. The institute clarified these reports are unfounded, emphasizing its commitment to providing diverse opportunities for students.
Key Highlights from the 2023-24 Placement Report
- Participation and Success Rates:
Of the 2,414 students registered for placements, 1,979 actively participated, while 435 opted out. Among those participating, 1,475 secured jobs, achieving a placement rate of 61%. - Salary Insights:
- Median CTC: ₹17.9 lakh
- Average CTC: ₹23.5 lakh
- Top Offers: 1% of students received packages exceeding ₹1 crore.
- Majority Offers: 62% of placed students earned below ₹20 lakh annually.
An analysis excluding top offers suggests the average salary drops to ₹16.5 lakh, reflecting the influence of outliers on reported averages.
Core Sector Companies to Dominate 2024 Placements
The upcoming placement season at IIT Bombay, commencing on December 1, is expected to see a shift in industry participation. Reports indicate a likely increase in roles from core sector companies and reduced presence from IT firms. This shift highlights changing industry demands and the institute’s efforts to align with market trends.
Opportunities Ahead for IIT Bombay Students
As IIT Bombay focuses on adapting to evolving industry needs, its placement strategy continues to emphasize diverse roles across sectors. The rejection of minimum salary rumors reinforces the institution’s broader aim of enhancing student employability and offering opportunities that match individual aspirations.
IIT Bombay remains a prestigious hub for top recruiters, balancing competitive salaries with diverse career pathways for its students.
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