Salaries slightly hiked this year during IIT-Bombay on-campus placements

More than 1,600 students will participate in the recruitment process from various undergraduate and post-graduate programmes

Salaries slightly hiked this year during IIT-Bombay on-campus placements

The campus placements of IIT-Bombay starts today with over 250 companies registered for the first phase. This year, the institute will have some companies offering slightly bigger packages than last year, while others are likely to remain the same.

The median salary offered by the recruiters at the premier institute dropped for the first time in six years in 2016 with a drop of 4.6 per cent in the annual gross median salary.

Kamal Karanth, the founder of Xpheno, a specialist staffing firm said that this year the top recruiters have either kept their offers static or increased them by 10 per cent since the number of engineers in the market is in abundance. The companies which offered high salary packages last year won't revisit the campus and are planning to hire students from other institutes as well. 

Uber, with an annual salary of INR 71 lakh and Microsoft with INR 64.40 lakh are expected to make US job offers even this year.

The companies that offered US job profiles like Oracle are going to place their candidates temporarily in India this year because many students failed to obtain a visa. They will be sent back to the US once this issue is resolved.

Blackstone is expected to increase its offer further this year after offering the highest annual salary of INR 35 lakh in a domestic profile last year.

Some top recruiters which won't be changing their packages are Schlumberger and World Quant, which offered INR 28 lakh and INR 25.20 lakh last year, respectively.

Works Applications and Xerox Research won’t be visiting the campus this year. These companies had offered 60 lakh Japanese Yen per annum and INR 22.5 lakh per annum, last year respectively. Works Application offered the highest package for a Japanese firm.

Sony is expected to make the highest offer for a Japanese company this year at 50 lakh Japanese Yen a year. Among other 14 Japanese companies, TEX E.G., Murata and Toyo Engineering will offer gross annual salaries in the range of 36 lakh and 27 lakh Japanese yen.

MumbaiLive would like to send you latest news updates