As the Indian Institute of Technology (IIT) Bombay concluded placements for the academic year 2023-24, it has been able to place only close to 75 per cent of its students who registered for the process, even after witnessing a 12 per cent increase in the number of companies recruiting on campus this year.

The premier technology institute in the city released its Placement Report for the academic year 2023-24; it reflected a poor placement record compared to the last academic year, 2022-23, when 82 per cent of participating students were successfully placed. Even as the average salary package has increased from Rs 21.82 lakh per annum (LPA) to Rs 23.50 LPA, the number of offers has dropped this academic year.

Last academic year (2022-23), IIT Bombay saw 324 companies recruiting on campus, making 1,788 offers, out of which 1516 were accepted. In the academic year 2023-24, however, 364 companies recruited on campus, making 16,50 job offers, out of which students accepted 1,475. There were a total of 1,979 who had registered for placements seeking jobs.