IIT Bombay seeks minimum salary of ₹6 lakh for placements
This comes after the institute recorded its lowest-ever offer of ₹4 lakh during the last placement cycle
Mumbai: The Indian Institute of Technology Bombay has in discussion with companies participating in its upcoming placement season to avoid offering annual packages below ₹6 lakh. This comes after the institute recorded its lowest-ever offer of ₹4 lakh during the last placement cycle. Last year, 10 students got packages between ₹4 lakh and ₹6 lakh from seven companies.
Phase 1 of the placement season, which begins on December 1, is set to witness a notable shift, with increasing participation from core sector companies and a dip in representation from IT firms. “Last year, we saw fewer IT firms due to a slowdown in bulk hiring, which followed the high demand during the Covid-19 recovery years in 2021 and 2022,” said an official from IIT Bombay, who requested anonymity as they aren’t authorised to speak with the media.
To meet students’ evolving needs, IIT Bombay has curated a more targeted selection of recruiters based on student feedback and industry trends. This year, the institute plans to onboard new companies, including startups, and has invited several public sector undertakings (PSUs).
Despite challenges in the IT sector, IIT Bombay’s placement office remains optimistic about international hiring. “We have Japanese clients participating and hope to see an increase in foreign offers. However, offers must align with local currency standards or be in USD,” said a student representative.
Startups will also play a critical role, with IIT Bombay targeting those operational for at least three to four years. Additionally, some pre-placement offer (PPO) recipients will be allowed to participate in regular placements. Hybrid placement models, which combine in-person and online processes, will continue to cater to company preferences, ensuring flexibility and wider participation.
The institute has also expanded its outreach to attract companies from niche sectors such as earth science and environmental science, aligning with growing student interests. “Students have asked for opportunities in these fields, and we’ve responded by inviting relevant companies to participate,” said the official quoted earlier. “We are focused on expanding our client base and ensuring students have access to quality offers across industries.”
Over 2,400 students have registered for placements this year, up from 1,400 in 2015-16. Last year, IIT Bombay received 300 PPOs, of which 258 were accepted. “This year’s figures are expected to be similar,” the official added.
The student representative emphasised that market demand drives recruitment trends. “Placements depend on the market situation, and while we offer strong student support, there has to be demand from employers. IT hiring remains uncertain this year,” they said.