Placement Statistics of IIT Bombay

2,500 students registered for the placement this year at IIT Bombay, while 1100 students registered for reputed internships. The total number of offers received was 1648.

IIT Bombay is considered one of the leading engineering and science institutes in Asia and the most reputed and competitive institute in India to get into and has been the first-preferred destination of top-rank holders in the science and engineering disciplines. Degrees offered in the university include a Bachelor of Technology (BTech), Master of Technology (MTech), Bachelor of Science (BSc), Master of Science (MSc), and an Inter-Disciplinary Dual-Degree Program (IDDDP) among many others. It has a reputed graduate program offering doctoral degrees in science, technology, engineering and mathematics. It currently has a total of 15 academic departments, 20 additional education centres, a school of excellence and four interdisciplinary programs including a management program and industrial design programs. Only the most intelligent and hardworking students are selected for top IITs such as IIT Bombay and they are eager to secure good jobs that can provide them with financial security. Thus it is very important for students to be aware of the kind of opportunities they can unlock in the placement process at the university. 

Average Package at  IIT Bombay 2023

The average package offered during IIT Bombay placements 2023 was INR 23.26 LPA. In previous years, the overall average package offered during placement in 2022 and 2021 was INR 22.7 LPA and INR 17.91 LPA, respectively. Recruiters like Accenture, Airbus India, Microsoft, Morgan Stanley, Shell, Tata Steel, and many others made job offers on Day 1 of the placements. Before the placement process, 300 pre-placement offers were made as well. 2,500 students registered for the placement this year, while 1100 students registered for reputed internships. The total number of offers received was 1648. 

Highest Package at IIT Bombay in 2023

This year, the highest international package stood at INR 3.67 CPA & the highest domestic package stood at INR 1.8 CPA. Among all the offers, the number of international packages of more than 1 CPA was 7 even after considering the difference in purchasing power parity and living costs. The number of domestic packages of more than 1 CPA was 5. The average package stood at INR 22-24 LPA. Students who received packages above INR 16 LPA were 562 in total. While the highest PhD package at IIT Bombay stood at IINR 29 LPA. Overall the placement percentage has been around 89%. 

Top Recruiters at IIT Bombay

Top recruiters in 2023 were corporate giants- American Express, Honda Japan, McKinsey & Company, Boston Consulting Group, Uber, etc. Most top companies in Tech and Finance find the top IITs an attractive destination for recruiting individuals for various positions. 

Types of Jobs Offered 

There are core BTech jobs which require a specific skill set, for example, if a student of Civil Engineering goes on to work as a Civil Engineer. 

Conversely, non-core jobs may not be directly related to the student's field of study. For example, an engineering graduate may get the opportunity to become a content writer or marketing consultant after completing their BTech program. 

Some authors such as Namit Agrawal, Sailakshmi Sreenath, Shishir K. Jha, and Anurag Mehra, have reported that around 60% of BTech graduates from IIT Bombay accepted the non-core jobs such as Consulting or working in the Financial sector while 40% took up offers from IT/software and engineering.

As per a research paper, a significant decrease has been seen in the average salary of traditional core jobs over the years, including engineering and technology, R&D, and IT/Software. Simultaneously, students may encounter a lot of pressure to get placed during a placement session due to financial instability or family obligations. Due to this, many of them end up taking jobs in the non-core sectors instead of waiting for the later core slots, stated the study.

Placement Offers from Top Sectors

Analysis of IIT Bombay placement offers from 11 recruiting sectors shows that over the five-year period, IIT Bombay's median salary was INR 21 lakh in 2018 and in the finance sector. The lowest placement offer of IIT Bombay of INR 2 lakh, was in education in 2015. In 2018, median salaries across sectors ranged from INR 6.6 LPA to INR 21 LPA. The maximum salary offered in IIT Bombay placements (domestic) wss INR 45,00,000, in both 2017 and 2018, both from the financial sector.

So overall, data analytics and consulting sectors provide more than 60% of the total IIT Bombay placement offers, and as we can see, the finance sector recruits individuals for a wide variety of roles providing quite lucrative offers. This is good news for those interested in the field.

Top Fields

• Engineering and Technology
• IT/Software
• Consulting and Analytics

The Engineering and Technology sectors have consistently provided 20–25% of all placement offers, from aeronautical, chemical, metallurgical, and material science departments. 

About the Author

I’m Kavya Chawla, a second-year English honours student with a zeal to write and create. I’ve always enjoyed writing whether it be for a speech, play, essay or now writing for Shiksha. My work here has taught me a lot about the SEO space. Hope to keep learning and growing.

Note: The views expressed in this article are solely the author’s own and do not reflect/represent those of Shiksha.