Highest domestic CTC up by 163% at IIT Bombay's first phase placements

Highest domestic package is for Rs 1.68 crore per annum this year compared to Rs 64 lakhs per annum in 2020.

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The first phase of the final placement season at the Indian Institute of Technology (IIT) Bombay has seen the institute post a 162.5 per cent jump in the highest domestic cost-to-company (CTC) package.

IIT Bombay has received the highest domestic CTC package of Rs 1.68 crore per annum this year compared to Rs 64 lakh per annum (lpa) last year.

The premier institute also posted a 35.86 per cent rise in average cost-to-company package received this year, compared to last year phase one. IIT Bombay has received an average CTC package of Rs 25 lakh per annum (lpa) this year compared to Rs 18.40 lpa last year.

This year the highest international CTC in the first phase of placement at IIT Bombay was $287,000 per annum while the same was EURO 157,000 per annum last year in the said period.

Phase one of placement season, from December 1 to December 18, saw the institute secure 1382 selections so far, including Pre-Placement Offers (PPOs), from 315 companies. This is an all-time high record of number of offers in Phase-I of Placements at IIT Bombay, even as it expects some more offers in the coming days.

While the PPOs grew from 182 in 2020-21 to 248 in 2021-22, the campus placement offers received in phase one grew from 946 last year to 1475 this year, amounting to a total of 1723 of which 1382 offers were accepted by students.

Sectorwise, the highest number of offers was in the engineering and technology sector, which saw an average CTC of Rs 21.54 lpa this year compared to Rs 16.95 lpa last year. The other top sectors at IIT Bombay included IT/Software with an average CTC of Rs 27.05 lpa, finance (Rs 28.40 lpa), research & development (Rs 25.12 lpa) and consulting (Rs 18.02 lpa), respectively.

The institute also saw two public sector undertakings (PSUs) coming in Phase-I of Placements this year, making nine offers even as more PSUs are expected to recruit during Phase-II of campus placements.

According to IIT Bombay, the institute received a total of 45 international offers from different countries like USA, Japan, UAE, Singapore, Netherlands, Hong Kong and Taiwan. "The Placement Office also focused on connecting with growing start-ups and industry with diverse roles to tackle the market slowdown. Number of international offers above Rs one crore are seven and domestic offers above Rs one crore are five," the institute stated.