"IIT Bombay Provides Clarity on Placement Status Following Reports of 36% Unplaced Students"

In response to reports indicating that 36% of graduates at IIT Bombay have yet to secure jobs this placement season, the institute has released data from an exit survey conducted among graduating students during the academic year 2022-23.

According to the survey results shared by the institute, only 6.1% of graduates are actively seeking employment. The majority of students, accounting for 57.1%, secured jobs through IIT Bombay's placement process. Additionally, 12.2% of students opted to pursue higher degrees, while 8.3% chose careers in public service.

Further breakdown of employment preferences among students reveals that 10.9% secured jobs outside of IIT Bombay, with 1.6% venturing into startup ventures. A small percentage, 4.3%, remain undecided about their career paths.

The institute released these statistics to address concerns and provide clarity on job prospects for its students amidst ongoing economic challenges.

According to a report in the Hindustan Times, approximately 712 out of the 2,000 registered students are still without job offers this session. An officer from IIT Bombay's placement cell mentioned that inviting companies to the campus was challenging compared to last year due to the global economic downturn. Negotiations regarding salary packages also posed challenges for many companies, requiring several rounds of discussion before their participation.

The officer noted that, for the first time, students registered in the Computer Science and Engineering branch did not achieve full placement among those enrolled. The placement process at IIT Bombay is ongoing and will continue until May 2024.

This year saw a rise in the percentage of students without placements, with 35.8% remaining unplaced, marking a 2.8 percentage point increase compared to the previous session. In 2023, out of the 2,209 students registered at IIT Bombay, 1,485 had secured jobs, leaving 32.8% unplaced.

A significant number of the 380 companies that participated in the placement drive were domestic, contrary to the usual trend of more international firms.

In January, reports surfaced that 85 students at IIT Bombay received job offers with annual packages worth Rs 1 crore. Later, the institute issued a clarification stating that only 22 students had received packages worth Rs 1 crore.

"The phase-I placements (December 1-20, 2023) incorrectly reported the number of accepted ₹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 official statement read.

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