Four times as many students got jobs on the first day of placements at IIT-B compared to last year, at 30 per cent higher salaries on average, which experts say indicates the high-end of the job market is recovering robustly.
The number of companies on campus on the first day also doubled to 21 from 10 last year.
The day, divided in two slots, 8 am to 4 pm and 6 pm to 2 am, saw 21 companies on campus.
Last year, there were only 11 firms on the first day of placements and only 10 students got offers in the first slot. This
year, the first slot saw offers for 42 students, many with multiple offers.
“This is a reflection of the recovering economy and an indicator of the image of IIT-B students in the job market,” said Ravi Sinha, dean of placements at the institute.
IIT-B placements are the indicator for the rest of the IITs because it is the first to start the placement season and is the first destination for most companies.
Companies that came last year have increased their pay packages by at least 30 per cent and are recruiting more students.
The campus is expecting 170 companies this year, compared to 150 last year.
This upturn at IIT-B was projected in pre-placement talks, which HT reported last month. The placement season usually lasts till all 1,200 students get jobs although the intensive process lasts the first 15 days.
“I was very tense. But it is exhilarating to be placed in the first slot on the first day,” said Rupal Jain, a student who is joining a reputable consulting firm.