The first phase of placements at IIT Bombay concluded with selection of 973 students by recruiters from 310 companies at an average CTC of Rs 18.40 lakh. “The highest domestic CTC package has been Rs 64 lakh per annum and the highest international CTC has been EURO 1.57 lakh per annum,” the institute said in a statement issued on Friday.
While the number of students selected in the first phase fell from 1,172 in 2019 which was an all-time high, in a year disrupted by the Covid-19 pandemic, comparison to previous years, the premier institute said, would be unfair.
In all there were 182 pre-placement offers of which 152 were accepted. This has been the highest number of pre-placement offers since 2017-18. Of the 946 campus recruitment offers 821 were accepted.
“Placement Office has endeavored to minimise the impact of Covid-19 pandemic on student recruitment process and has optimised selection outcomes. Comparison with previous years would not be fair, considering the economic, travel and logistical challenges faced during this pandemic year,” IIT Bombay said in a statement on Friday.
The institute, however, said that this year was an all-time high record for the number of recruiters who participated in the Phase-I of placements at IIT Bombay that was held virtually from December 1 to December 15. Just like in 2019, the most number of offers were rolled out by the Engineering and Technology sector that offered an average CTC per annum of Rs 16.95 lakh. The highest average CTC per annum of Rs 22.72 lakh was, however, offered by recruiters from the research and development sector.
The number of international job offers for students dropped to 58 from 156 in 2019. This year, the offers came from countries like USA, Japan, UAE, Singapore, Netherlands, Hong Kong and Taiwan. This year the highest number of domestic job offers were made by Microsoft, Google, Texas Instruments, Qualcomm, Boston Consulting Group, Apple, Bain and company, while the lucrative International offers were made by Optiver (Netherlands), the institute said in an earlier statement. Other recruiters included Honda R&D (Japan) and TSMC (Taiwan Semiconductor Manufacturing Company).
“We are hopeful that larger pool of students will get selected next year and companies will continue their participation next year in Phase-2 season once lockdown situation improves,” the institute said.
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