IIT-Bombay begins placements, 40 firms interview students

The Indian Institute of TechnologyBombay IITB began the first phase of campus placement season on Friday Although there are concerns over a global economic slowdown the premier institute is expecting a good placement seasonAround 40 companies interviewed candidates on Friday Compared to last year 80 per cent of the regular recruiters have participated this yearAs per the statement shared by the institute on Friday evening over 350 companies are expected to participate in the first phase of placement season which is to continue till December 15 ldquoThe placement drive at the institute has started on a positive note with over 200 preplacement offers PPO accepted Three Public Sector Undertakings PSUmdash Hindustan Petroleum Corporation Limited HPCL Centre for Development of Telematics CDOT and Oil and Natural Gas Corporation ONGCmdashhave recruited students before day onerdquo the statement from IITB readPast trendsIITBrsquos phase one of placement season 202223 began on December 1 and ended on December 16 2022 The first day of that season saw 46 companies interviewing candidates in person and online 250 job offers and 300 preplacement offersParticipating companies this year for domestic profiles include Google India Apple and Microsoft India Procter amp Gamble Sony Japan Texas Instruments Qualcomm Tata Group etc Participating companies on day one last year were Accenture Solutions Airbus India Microsoft India Morgan Stanley McKinsey amp Company Procter amp Gamble Qualcomm Shell India Texas Instruments and Tata SteelAccording to data provided by IITB there were fewer offers in phase one of placement season 202223 1648 than the phase one of 202122 1723 However after factoring in accepted offers including PPOs accepted job offers were at an alltime high in phase one of placement season 202223Following phase one last year 63 international offers were accepted by students with 25 offers exceeding Rs 1 crore per annum The highest annual salaries on a costtocompany CTC basis for domestic and international offers were R367 crore and R131 crore respectivelyTaking into account all accepted offers in last yearrsquos phase one the average annual salary stood at Rs 2326 lakh CTC basis Last yearrsquos phase one marked a significant achievement in the placement of IITBrsquos PhD scholars with 36 offers accepted boasting an average CTC package of Rs 16 lakh per annum The highest salary package reached Rs 29 lakh per yearConsidering the trends observed in IITBrsquos placement seasons in the past two years it would be intriguing to see how placement season unfolds this year350Companies expected to participate in ongoing phase one