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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World No. 1 Chakravarthy achieves career-best rating in ICC T20I bowler rankings
Dubai (PTI): India spinner Varun Chakravarthy on Wednesday consolidated his position at the top of the ICC Men's T20I Bowler Rankings, reaching a career-best rating following a stellar show in the ongoing T20 series against South Africa.
The 34-year-old Chakravarthy earned a new best rating of 818 points on the back of his third consecutive two-wicket haul in five-game home series.
The right-armer has six wickets across the first three matches of the series, with his spell of 2/11 from four economical overs in the most recent contest in Dharamsala proving pivotal in India's clinical seven-wicket triumph.
Chakravarthy (818 rating points) now holds a 119-point advantage over his closest rival in New Zealand seamer Jacob Duffy (699) in second-place, while also moveing inside the top 10 for the best rating of all-time for T20I bowlers.
Left-arm seamer Arshdeep Singh also improved four places to 16th overall on the rankings for T20I bowlers on the back of his Player of the Match heroics against the Proteas in the third game.
For South Africa, Marco Jansen (up 14 spots to 25th), Lungi Ngidi (up 11 rungs to 44th) and Ottneil Baartman also improved, reaching 68th from outside the top 100.
Among T20I batters, India now boast two players inside the top five on the rankings, with Tilak Varma gaining two spots to move to fourth overall after a trio of decent innings against South Africa.
Teammate Abhishek Sharma maintains a decent buffer at the top, while South Africa duo Aiden Markram (up eight places to 29th) and Quinton de Kock (up 14 spots to 43rd) made good ground following some decent recent efforts.
Pakistan's Saim Ayub has a narrow lead at the top of the rankings for T20I all-rounders despite not playing any international matches across the last week, with India's Shivam Dube the big mover on this list as he improves two places to 16th.
