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IIT Bombay Placements 2023 - Average and Highest Package, and Top Recruiters

By MayukhaOctober 07, 2023
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According to the media reports, IIT Bombay, also known as the Indian Institute of Technology Bombay, performed its 2023 placement drive. And, 1516 students, out of 1898 offers, were placed in 332 companies during IIT Bombay Placements 2023.

After Phase I of IIT Bombay Placements 2023, IIT Bombay highest package under domestic and international provided was INR 3.67 crore per annum and INR 1.31 crore per annum, respectively. 63 overseas offers were accepted in Phase I of the IIT Bombay Placements 2023, while 25 offers of above INR 1 crore per year were accepted during this drive. 

IIT Bombay Placements: Most B.Techs Get ‘Much Smaller Packages’ Than Crore-Plus Salaries, Says Study

Also Read: Top Engineering Colleges in India Accepting JEE Mains Scores?

Reportedly, IIT Bombay average package for 2023 was INR 23.26 LPA, while INR 22.7 LPA in 2022. 

However, when it comes to the higher salaries provided in the IIT Bombay campus over a four-year period 2014-18, it seems to have majorly come from the Finance sector, a report by the Centre of Policy Studies says. Let’s find out in detail:

IIT Bombay Placements 2023 Reports Average Package of INR 23.26 LPA and Highest Package: INR 1.31 CPA

As per the reports of the Centre of Policy Studies, it is found that the most liberal offers made by the IIT Bombay Placements under domestic area was from the Finance Sector. However, still, they were far lower compared to the international ones. 

An analysis of IIT Bombay placements offers, including 11 recruiting sectors, highlights that over a five-year period, IIT Bombay highest package was Rs 21 lakh in 2018 and in the finance sector. The lowest placement offer was reported in Education in 2015, worth INR 2 Lakh. The maximum salary offered under the IIT Bombay placements over the same five years was INR 45 LPA in both 2017 and 2018, coming from the Finance sector.

“It seems that even though a few students get lucrative offers, the majority of them satisfy themselves with much smaller packages.” says a report published in Current Science.

Over the same period, the authors, Namit Agrawal, Sailakshmi Sreenath, Shishir K. Jha, and Anurag Mehra, also reported that 60% B.Tech graduates from IIT Bombay were accepted under “Non-core jobs' such as Consulting or Financial sector while 40% offers were from IT/software and engineering. 

The paper, ‘Placements, internal ‘brain drain’ and academic life of undergraduates at the Indian Institute of Technology, Bombay’ collected data on IIT Bombay Placements from 2013 to 2019, including undergraduate students from third, fourth, and fifth years of batches of 2020, 2021, 2022 and 2023 to thoroughly understand the candidates’ preferences regarding core and non-core job roles. As a result, the authors only got 269 responses from 2109 students for courses like BTech, dual-degree, BS, etc.

Check out IIT Bombay Placements 2023 Report


Placement Statistics (2022)

Placement Statistics Phase 1 (2023)

No. of Companies Offered Jobs



Total No. of offers Received 



Total No. of offers Accepted



Placement Rate



No. of PPOs Received



No. of PPOs Accepted



International offers Accepted



Highest Domestic Package

INR 1.89 CPA

INR 3.67 CPA

Highest International Package


INR 1.31 CPA

Ph.D. Highest Package



Overall Average Package

INR 22.7 LPA

INR 23.26 LPA

Ph.D. Average Package



From the above table, it is clear that IIT Bombay highest package for Domestic and International reportedly was INR 3.67 CPA and INR 1.31 CPA.

The  IIT Bombay average package was INR 23.26 LPA for 2023 while INR 22.7 LPA for 2022.

IIT Bombay Placements Branch-Wise 2023

As per the reports, 49 companies have participated till now in Phase 1 and Phase 2 placements for 2023 batches at IIT Bombay. Following are the branch-wise placements for the 2023 batch. 


IIT Bombay Placements Companies

Highest CTC



Da Vinci Derivatives

INR 1.32 CPA


CSE / Electronics


INR 1.02 CPA

SDE And RandD



INR 22.5 LPA




INR 47.5 LPA

SDE And RandD

IIT Bombay Highest Package for 2022

Here are the details of the Highest Domestic And International packages during 2022 at IIT Bombay:



Highest domestic package 2022


Highest international package 2022


IIT Bombay Average Package For 2022





IIT Bombay Average Package

INR 20.08 LPA

INR 17.91 LPA

INR 22.7 LPA (domestic)

INR 60.9 LPA (international)

IIT Bombay Placements 2022 Branch wise 


Average Package (2022)

No. of Offers (2021)

Engineering and Technology




INR 27.05 LPA



INR 28.40 LPA



INR 18.02 LPA


Research and Development

INR 25.12 LPA


Others (Education, Services, PSUs)



Why Do Many IITians Prefer Non-Core Jobs in Their Placements?

First, understand the difference between core and non-core jobs. 

The core jobs are available in engineering main branches and require a skill set to be eligible by the students. For example, if a student has studied civil engineering and joined a job as a Civil engineer or in the same field is considered a core job.

On the other hand, non-core jobs are not directly related to the student’s field of study, i.e. engineering. For example, an engineering graduate joins a role as a content writer after completing his/her program. 

Now, when it comes to the factors influencing students’ choices, the authors figured out that overall salary, career growth, and flexibility are some of those while choosing a role during the IIT Bombay Placements. They found that the curriculum's lack of core opportunities and internships affects students’ placement priorities.

Scope Availability

Though there is a wide scope of core jobs, companies offering core engineering jobs are less available. On the contrary, the market is quite favourable for non–core graduates as several IT companies offer a vast range of non-core jobs to engineering graduates.

Requirement of Skills

Compared to core engineering jobs, non-core jobs require fewer or generic skills, and candidates can remove the burden of keeping up with the updated specialised technical domain knowledge. Apart from this, the lack of internships and projects under the core sector also makes it difficult for students to go with these jobs.


As per the paper, a significant decrease has been seen in the average salary of traditional core jobs over the years, including engineering and technology, RandD, and IT/Software.

Simultaneously, students encounter a lot of pressure to get placed during a placement session. Due to this, many of them end up taking jobs in the non-core sectors instead of waiting for the later core slots, stated the study.

Wrapping Up

The paper suggests to lure students’ focus on core jobs, the IIT Bombay placement cell must endeavour to collect more lucrative core job offers to extend opportunities in core engineering fields. It also suggests that the cell should conduct surveys across sectors, students, and faculty to evaluate available job profiles and salaries.

FAQs on IIT Bombay Placements 2023 - Average and Highest Package, and Top Recruiters

1. What was IIT Bombay highest placement package offered in 2023?

According to reports, the highest domestic and international package offered in IIT Bombay placements 2023 Phase 1 was recorded at INR 3.67 CPA and INR 1.31 CPA, respectively.

2. What is the average package of IIT Bombay 2023?

The average IIT Bombay Placements for 2023 stood at INR INR 23.26 LPA and INR 22.7 LPA for 2022.

3. How many offers were made during IIT Bombay placements in 2023?

1,648 offers were received in 2023 at IIT Bombay placements, out of which 1,431 offers were accepted.

4.  What was the highest placement package offered at IIT Bombay in 2023?

The highest placement package at IIT Bombay in 2023 reached an impressive INR 3.67 crore per annum and INR 1.68 crore per annum, respectively., highlighting the lucrative opportunities available for graduates.

5. Are placements stressful at IIT Bombay?

While the placement process can be competitive, IIT Bombay provides robust support and resources to help students navigate the process, ensuring a balanced and successful placement experience.

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