Only 75% get jobs during IIT Bombay’s placement season, lowest pay down to Rs. 4L/year
Mumbai: The placement season at IIT Bombay for the year 2024 concluded with only 75% placement rate. The average annual salary offered to students rose to Rs 23.5 lakh, up from Rs 21.8 lakh last year, marking a modest 7.7% increase. However, fewer students were placed through campus drives compared to the previous year.
This year, the lowest annual compensation offered was reduced to Rs 4 lakh, down from Rs 6 lakh. Despite this, ten students accepted job offers within the Rs 4 lakh to Rs 6 lakh range. On the higher end, 230 offers fell between Rs 16.75 lakh and Rs 20 lakh, while 558 offers from 123 firms offered salary packages exceeding Rs 20 lakh annually.
The number of organizations hiring IIT-B graduates increased by 12% this year. Among the offers, 22 exceeded the Rs 1 crore mark annually, and a total of 78 international offers were accepted across both placement rounds. "Due to the war in Ukraine and the subdued global economy, we saw fewer international recruiters," the report noted.
The second half of the placement season began slowly but gained momentum after April. "We received over 300 job offers in Phase 2. While 75% of students were placed through campus drives, another 15% secured jobs independently," a source revealed. Of the 543 students who registered for placements, 388 participated, and 364 received offers.
The report highlighted that "Considering the total number of participating students, the placement percentage is nearly 75%. Most of the remaining unplaced students have identified avenues to be gainfully employed," with some opting to pursue further education.
This year, the engineering and technology sectors were the biggest recruiters, with 430 students securing entry-level positions across 106 key engineering firms. Hiring in the information technology and tech sectors saw a slight increase compared to last year.
In the consulting sector, 29 firms made 117 offers, a decrease from the previous year. Companies in trading, banking, and fintech were significant employers, with 33 financial service companies extending 113 offers. Hiring was particularly robust for roles in artificial intelligence, machine learning, product management, mobility, 5G, data science and analytics, and education.
Despite strong hiring in other sectors, only 30 positions were available in the education industry across 11 organizations. In the research and development sectors, companies in automation, energy science, battery technology, chemical and mechanical research, energy efficiency solutions, application development, materials research, semiconductor, power electronics, and AI/ML offered 97 positions for the 2023-2024 academic year. Among the 118 participants, 32 were active PhD candidates.
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Woman, 2 sons found dead in Delhi home; suicide suspected
New Delhi (PTI): Three members of a family were found dead inside their home in southeast Delhi's Kalkaji on Friday, with police suspecting it to be a case of suicide, officials said.
Police said the incident came to light around 2.47 pm when a police team reached the premises to execute a court order related to possession of the property. When repeated knocks went unanswered, the staff used a duplicate key to open the door.
Inside, officers found Anuradha Kapoor (52) and her sons, Ashish Kapoor (32) and Chaitanya Kapoor (27), hanging from the ceiling, Deputy Commissioner of Police (Southeast) Hemant Tiwari said in a statement. All three were declared dead.
A handwritten note was recovered from the room, suggesting the family had been struggling with depression.
"The handwritten note indicates emotional distress faced by the family due to which the family may have taken the extreme step," the officer said.
The bodies have been shifted to the All India Institute of Medical Sciences (AIIMS) mortuary for post-mortem and other legal formalities under Section 194 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), police said.
Residents of the neighbourhood said they were shocked to learn about the deaths, adding that the family kept largely to themselves.
Pankaj Kashyap, a resident of Girinagar, said he learnt about the deaths while leaving for work. "I live and work here and was leaving for work when I saw many people standing outside and talking. That is how I got to know that three people had committed suicide. I also saw several police vehicles outside, but I do not know much beyond that," he said.
Baldev, another neighbour, said the family had been living in the newly constructed house for around two years. "We only knew that a mother and her two children lived there. They had moved into the newly built house around two years ago. We did not interact much with them. Today we heard that all three have committed suicide, and whatever we know is based on what people here are saying," he said.
Another neighbour, Ramesh Kumar, claimed the family had earlier attempted suicide.
"About fifteen to twenty days ago, the two sons in the family had attempted suicide and police and ambulances had come. That was when I first got to know who they were. I do not recognise them by face, but we saw the ambulances and police take the two sons that day. Today again we saw ambulances and police arriving, so everyone came out to see what had happened. I do not know how long they had been living here, but this is all we know," he said.
Police said they are examining the family's financial condition, social circumstances, and other factors that may have contributed to the incident. Further investigation is underway.
