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First time in 6 years, median salary risen to Rs10.2 lakh: IIT-Bombay

Established in 1958, the second of its kind, IIT Bombay was the first to be set up with foreign assistance. The funds from UNESCO came as Roubles from the then Soviet Union. In 1961 Parliament decreed the IITs as ‘Institutes of National Importance’. Since then, IITB has grown from strength to strength to emerge as one of the top technical universities in the world.

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The institute is recognized worldwide as a leader in the field of engineering education and research. Reputed for the outstanding caliber of students graduating from its undergraduate and postgraduate programmes, the institute attracts the best students from the country for its bachelor’s, master and doctoral programmes. Research and academic programmes at IIT Bombay are driven by an outstanding faculty, many of whom are reputed for their research contributions internationally.

In the IIT-Bombay placements season of 2017-18, there is the rise in median salaries for the First time in 6 years. The median salary package offered during the 2017-18 placements at the Indian Institute of Technology-Bombay (IIT-B) has risen and reached to a seven-figure mark. There was a dip in salaries during the 2016-17 placement season.

As per the institute’s annual placement report, the median salary, the annual package offered to the average IIT-B graduate rose from Rs9.3 lakh to Rs10.2 lakh in 2017-18.

The highest number of offers were made by Goldman Sachs, Qualcomm, IBM, Microsoft, BCG, Cairn, Mckinsey Knowledge Centre and Tata Steel. International offers were made by NEC Japan, Microsoft, Optiver, Rubrik, and Uber. Other companies that visited the campus were Apple, Morgan Stanley, Strategy&, Schlumberger, Texas Instruments Inc, Deutsche Bank, Procter & Gamble, Millennium and the ITC Group.

In 2017-18, IT giant Microsoft offered the largest annual package of $2.14 lakh, while financial services firm Blackstone offered the largest domestic package of Rs $1.55lakh. App-based taxi aggregator Uber came a close second with an offer of Rs.99.87 lakh a year. The first phase of attended by more than 250 companies.

The year also saw participation by 15 Japanese firms which included Sony, TEX E.G., Murata and Toyo Engineering. Tom Mathews, Placement head of IIT, Bombay said that”I can’t think of a particular reason [for the hike”.

Prof. Devang Khakhar, Director, IIT Bombay,” IIT Bombay has proved to be the most preferred destination for aspiring technologists from across the country. The institute consistently attracts the finest faculty and the best of students for its Bachelors, Masters, and Doctoral programmes. We highly value our partnership with recruiters, alumni, and friends of IIT Bombay and remain committed to making your recruiting experience productive and positive. ‘

ALSO READ: Final placement of IIM Raipur: Highest package offered Rs 61.8 lakh

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