Mumbai News : IIT-Bombay’s 85 students bag offers of over ₹ 1 crore in first round of placements
Mumbai News : IIT-Bombay’s 85 students bag offers of over ₹ 1 crore in first round of placements
In the initial phase of placements, an impressive 85 students from IIT- Bombay secured job offers exceeding one crore. The majority of these lucrative offers at the IIT Bombay campus for this year’s placement season originated from the research and development sector, with an average annual salary of Rs 36.9 lakh, showing an increase from the previous year’s Rs 32.25 lakh.
In contrast, the finance sector that is hogged by algo trading firms saw a drop of 22% in average yearly compensation to Rs 32.4 lakh from Rs 41.7 lakh last year.
Other sectors, including IT/software and consulting saw a marginal rise in the overall average pay in the first phase of campus placements. The institute released the report of the first phase on Thursday night.
Most of the international offers have come from Japan, Taiwan, South Korea Netherlands, Singapore and Hong Kong. Despite global and economic uncertainties IIT-Bombay saw a total of 1,340 offers being made till December 20, which resulted in 1,188 students getting placed. This included seven students placed in PSUs as well as 297 PPOs via internships of which 258 were accepted.
However, the numbers of offers received overall were lower than last year during phase one of placements
