Mumbai: IIT-Bombay received a record number of 1,270 offers from 361 companies in the first phase of placement season. The first phase commenced on December 1, this year and concluded on December 17. The institute has set the bar higher for the second phase. Out of the 1,270 offers received at the campus this year, the institute has accepted 1,122. The international offers from US, Japan, the Netherlands, Singapore, Taiwan and South Korea, raised to 89 in comparison with 65 last year.
Apart from the increase in the number of offers, the average salary package that is offered by the institute during the first phase of the placements has jumped from Rs 12-13 lakh per annum in the previous year to Rs 17.75 lakh per annum this year. A report by Times of India quoted an official from the placement cell as saying, “Statistics this year have proved IIT-Bombay was the most preferred destination for recruiters. The steep rise in the numbers of offers is made possible due to the adoption of new placement policies respecting both students and companies, allowing alumni mentoring and common aptitude test.”
In the first phase, 70 per cent of the total students registered has been placed. However, students had alleged that not all those who registered were in for the placements. Some students preferred to pursue their higher studies, they added. Reports suggested that the engineering and technology firms had picked the maximum number of students. The average pay package in the IT/software sectors was reported to be a CTC of Rs 21.29 lakh per annum.
Microsoft had reportedly offered Rs 1.5 crore for positions at their international office in Redmond, Washington. This is the highest international offer received so far. Samsung, on the other hand, had offered a total of 27 posts for positions in Korea, Bengaluru, Noida and Delhi. Samsung’s offers were found to be the highest by a single company.
The second placement phase is scheduled to begin in the month of January.