IIT Bombay placement: 22, not 85, students secure Rs 1 cr salary package

Institute issues correction, says 'technical glitch' responsible for the incorrect figure in the phase-I placement report

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In phase-I of placements held at the Indian Institute of Technology, Bombay (IIT B), 22 students secured salary packages worth over Rs 1 crore, according to a report by The Indian Express (IE). The institute issued a correction in the report that previously stated that 85 students had secured such packages, which was nearly four times more than the 25 such offers last year.

The institute did confirm that all other data in their report, released on January 4, was correct.

The official statement of the institute read, "The phase-I placements (December 1-20, 2023) incorrectly reported the number of accepted Rs 1 crore plus offers as 85. The correct number of accepted one crore plus offers is 22. All other data reported is confirmed to be correct. The Placement Office of IIT Bombay strongly regrets this mistake."

The report added that amongst the 22 students to receive salary packages greater than Rs 1 crore, three were domestic offers, and 19 were international. In comparison, last year, among the 25 offers that exceeded Rs 1 crore, 16 were accepted in the first phase of the placement season. Out of 16, two were domestic and 14 were international offers. At the end of all placement rounds, a total of 1,224 offers were accepted by students, including 63 international offers in 2022-23. Last year, top recruiters included American Express, TSMC, Honda Japan, McKinsey & Company, Boston Consulting Group, Morgan Stanley, Sprinklr, Reliance, Adani, and Tata.

This year, a total of 63 international offers were accepted by students sitting for placements in the first phase itself. The second phase will begin towards the end of the month. Around 60 per cent of the 2,000 students sitting for placement have accepted packages.

Top recruiters for this season included industry giants such as Airbus, Air India, Apple, Google, Intel, Jaguar Land Rover, Morgan Stanley, Qualcomm, Tata Group, Texas Instruments, and Wells Fargo. Key sectors contributing to the highest number of offers included engineering and technology, IT/software, finance/banking/fintech, management consulting, data science and analytics, research and development, and design.