IIT Bombay Clarifies Job Prospects for Graduates After Placement Season Concerns

The Indian Institute of Technology Bombay (IIT Bombay) has addressed recent media reports suggesting a high number of graduates remaining unplaced following the 2022-23 placement season. The institute released data from an exit survey conducted among graduating students, painting a clearer picture of their career trajectories.

The survey findings contradict the earlier reports. Only 6.1% of graduates indicated they were actively seeking employment. A significant majority, 57.1%, secured jobs through IIT Bombay’s well-established placement process. Additionally, 12.2% of students opted for higher education opportunities, while 8.3% chose public service careers.

The data also sheds light on diverse career paths pursued by graduates. While 10.9% secured jobs outside of the institute’s placement process, a smaller percentage (1.6%) opted for startup ventures. Notably, 4.3% remain undecided about their future career paths.

Addressing Concerns Amidst Economic Challenges

The release of this data follows media reports claiming that over 30% of IIT Bombay students were unable to secure employment. This discrepancy highlights the importance of considering official data when evaluating graduate outcomes. IIT Bombay’s proactive approach in providing detailed information aims to clarify job prospects for its students, especially in the current economic climate.

Placement Process Navigates Economic Headwinds

A Hindustan Times report previously stated that approximately 712 students remained unplaced this season. An official from IIT Bombay’s placement cell cited the global economic slowdown as a factor influencing company participation. Difficulties surrounding pre-determined salary packages reportedly led to extended negotiations before some companies agreed to participate in the placement process.

The report further noted that, for the first time, students from the highly sought-after Computer Science and Engineering branch did not achieve full placement. The ongoing placement process is expected to continue until May 2024.

Increased Number of Unplaced Students Compared to Previous Year

This placement season witnessed a rise in the number of unplaced students. The current figure of 35.8% represents a 2.8 percentage point increase compared to the previous year. In 2023, the Hindustan Times report stated that 32.8% of students remained unplaced after the recruitment drive.

The report also highlighted a shift in the composition of participating companies, with a higher number of domestic firms compared to the usual trend of attracting more international recruiters.

Clarification Regarding High-Value Salary Offers

Earlier in January, reports surfaced claiming that 85 IIT Bombay students received job offers with annual packages exceeding Rs 1 crore. The institute subsequently issued a clarification, acknowledging an error in reporting the data. The official statement confirmed that only 22 students received crore-plus offers.