IIT Bombay Placements 2024: Average Salary Up, Placement Rate Down

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IIT Bombay has recently concluded its placements 2024 season with a mixed bag. At the same time, the average annual package offered to graduate students increased but the overall number of placements marginally decreased. This is in comparison to the previous year when average salary as well as placements were rising.

Average Annual Salary: Rs 23.5 lakh (up 7.7% from 2023)
Total number of Placements: Slightly declined from 2023
High-Paying Offers: Increased, with 558 offers exceeding Rs 20 lakh per year
International Offers: 78 accepted
Lowest Salary: Dropped to Rs 4 lakh (from Rs 6 lakh in 2023)

IIT Bombay Placements 2024 Compared with 2023 Placements

Details	Placements Stats (2023)	Placements Stats (2024)
Average package	INR 21.82 LPA	INR 23.5 LPA
Median package	INR 16.66 LPA	INR 17.92 LPA
Placement rate	82%	74.53%
Registered students	2174	2414
Participated students	1845	1979
Accepted offers	1516	1475
Total offers made	1788	1650
Total recruiters	324	364
Offers above INR 1 CPA	16	22
PPOs accepted	194	258
International offers accepted	65	78
Top recruiting sector	Engineering & Technology	Engineering & Technology

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According to the placement report of the institute, a 7.7% hike was noticed in the average salary package for students having surged to Rs23 LPA from last year’s figure of Rs21.35 LPA The number of on-campus placement students was a little less than 2023. A major reason for this might be macroeconomic factors, industry-specific developments, and stiff competition from other premier institutions.

However, higher-paying offers continued their progress despite the decline in placements. At the same time, 558 numbers of offers with a gross remuneration over Rs 20 LPA (offers) were made and as many as 78 international offers have been accepted. Also, 22 students bagged offers of more than a crore per annum. This continues the trend of strong demand for IIT Bombay graduates in high-salary jobs and international roles.

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Lower Package Concerns

At Rs 6 LPA, the lowest salary in 2023
In 2024, the lowest pay was reduced to Rs 4 lakh per year.
10 Students took Jobs with Salaries At this level
The way IIT-Bombay graduates worry over their job market prospects.

Reasons for the decrease in the lowest salary may include:

Increased competition
Slow down some companies
An increasing number of graduates is entering the job market

Challenges:

The recruiters for this season were mostly Multinational corporations (MNCs).
Indian MNCs: 775 students placed
Indian companies placed 622 students.
Certain factors have adversely affected the overall placement scene which includes changes in the management and disruptions during placements.

These factors include:

Economic uncertainties
Geopolitical tensions
Industry-specific challenges

Also Read: Top Engineering Colleges In India In 2024

IIT Bombay Placements Report 2023-2024

Total Number of Registered Students	2414
Total Number of Actively Participated Students	1979
Total Number of Accepted Offers	1475
Total Number of Companies Offered Jobs	364
Total Number of Job Offers	1650
Job Offers above Rs. 1 crore accepted	22
Pre-Placement Offers Accepted	258
International Job Offers Accepted	78
Average annual CTC Salary Package of students	Rs. 23.50 LPA
Median Salary	Rs. 17.92 LPA
Top Recruiting Sector	Engineering & Technology

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IIT Bombay Placements 2024 Breakdown

Placement Type	Number of Students Placed
Placements Outside India	78
Placements in MNCs in India	775
Placements in Indian Companies	622
Total	1475

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Year-on-Year IIT Bombay Placements Comparison

Program	2020-21	2021-22	2022-23	2023-24
B.Tech.	468	544	598	683
Dual Degree (B.Tech. + M.Tech.)	132	184	178	152
M.Tech.	406	523	479	415
Others	144	190	261	225
Total	1150	1441	1516	1475

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IIT Bombay Placements 2024: Job Offers

Program	Registered	Participated	Placed	Placement Percentage
BTech	930	819	683	83.39%
MTech	564	497	415	83.50%
MS (Research)	23	15	14	93.33%
Dual Degree (BTech + MTech)	216	192	152	79.16%
MSc (2 years)	228	158	87	55.06%
Bachelors in Science (4 years)	69	60	39	65.00%
BDes	26	17	9	52.94%
Dual Degree (BDes + M Des)	10	10	4	40.00%
MDes	69	63	36	57.14%
MS (Research) (Exit Degree)	10	7	1	14.28%
MPP	11	6	0	0.00%
Others	28	18	3	22.22%
PhD	230	117	32	27.35%
Total	2414	1979	1475	74.53%

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IIT Bombay Placements 2024: Branch-wise Placement Analysis

Branch	Registered	Participated	Placed	Placement Percentage
Aerospace Engineering	140	119	76	63.86%
Applied Statistics and Informatics	34	30	24	70.59%
Earth Science	61	34	14	41.94%
Biomedical Engineering	21	15	12	57.14%
Biosciences and Bioengineering	34	21	11	32.35%
Centre for Policy Studies	11	6	0	0.00%
Centre for Research in Nanotechnology & Science	8	4	2	25.00%
Centre of Studies in Resources Engineering (CSRE)	2	2	2	100.00%
Technology and Development (C-TARA)	37	30	25	67.57%
Centre for Urban Science and Engineering	10	9	5	55.56%
Chemical Engineering	190	160	119	74.68%
Chemistry	80	59	22	37.29%
Civil Engineering	177	146	113	76.71%
Computer Science Engineering	275	254	230	90.55%
Economics	32	30	21	65.63%
Educational Technology	5	3	2	40.00%
Electrical Engineering	319	281	232	82.61%
Engineering Physics	61	41	28	68.29%
Energy Science and Engineering	81	59	39	48.15%
Environmental Science and Engineering	50	42	34	68.00%
Geo-informatics and Natural Resources Engineering	26	23	17	73.91%
Humanities and Social Sciences	9	5	0	0.00%
Industrial Design Centre (IDC)	105	90	49	51.76%
Industrial Engineering and Operations Research	38	36	29	80.56%
Mathematics	49	37	20	51.28%
Mechanical Engineering	308	260	229	87.69%
Metallurgical Engineering and Materials Science	185	152	106	69.03%
Physics	48	22	7	14.58%
Systems and Control Engineering	18	9	7	77.78%