Exploring the rise in the average IITian package, the article showcases significant growth in domestic and international job offers, highlighting the global demand for IIT graduates and their impact in technology and innovation sectors.
In the field of technical education, the Indian Institutes of Technology (IITs) stand as stalwarts, producing some of the brightest minds in the world. The allure of being an IIT graduate extends beyond the boundaries of academic excellence. For years, the “average IITian package” has been a hot topic of discussion, both domestically and internationally. In recent years, the landscape of IIT placements has seen a remarkable evolution, with increasing figures reflecting the prowess and desirability of IIT graduates in the job market.
Domestic Front:
According to a comprehensive report by the Indian government, the median salary for an IITian who graduated in 2018 stood at an impressive Rs 11.1 lakh per annum. This marked a substantial increase from the median salary of Rs 10.5 lakh per annum for the class of 2017, underlining the upward trajectory of IIT placements.
IIT Bhubaneswar, a rising star in the IIT constellation, has set new benchmarks with its placement records. The highest package in the academic year 2023-24 reached an unprecedented Rs 56 lakh per annum, showcasing the institute’s commitment to producing globally competitive graduates. The average package for the same period stood at a commendable Rs 16.27 lakh per annum. The campus played host to industry giants like Jaguar Landrover, Goldman Sachs, and Amazon, reaffirming its status as a preferred recruitment destination.
IIT Bhilai, another emerging player in the IIT landscape, recorded the highest package of Rs 31.9 lakh per annum, with an average package of Rs 12 lakh per annum. These figures signify the growing recognition and demand for IIT talent in the corporate world.
The IIT powerhouse, Bombay, reported a staggering achievement with around 85 students securing job offers exceeding Rs 1 crore in the first phase of placements that concluded in December 2023. The average annual salary in research and development (R&D) witnessed a notable increase of 12.6 percent, reaching Rs 36.9 lakh, showcasing the industry’s eagerness to invest in cutting-edge innovation. Overall, the average salary package offered by IIT Bombay was an impressive Rs 24.02 lakh per annum. A closer look at the distribution revealed that the average package for engineering and technology was Rs 21.88 lakh, IT and software stood at Rs 26.35 lakh, finance commanded an impressive Rs 32.38 lakh, and consulting offered a competitive Rs 18.68 lakh.
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International Opportunities:
While the domestic front is thriving, IITians are increasingly making their mark on the global stage. IIT Bombay reported that around 63 students accepted international job offers, expanding the horizon of opportunities beyond the Indian subcontinent. Prominent nations contributing to this global exodus include Japan, Taiwan, South Korea, Netherlands, Singapore, and Hong Kong.
IIT Delhi, not to be outdone, reported the highest international package of Rs 2 crore per annum, with an average of Rs 1.25 crore per annum. The trend continues with IIT Guwahati, where the highest international package reached an eye-watering Rs 2 crores, juxtaposed against the domestic high of Rs 1.2 crores. IIT Roorkee also joined the league, with an international package of Rs 2.15 crores and a domestic high of Rs 1.30 crores.
The ever-increasing average packages for IITians, both domestically and abroad, reflect the premium placed on their skills and education by global industries. As IITs continue to produce world-class graduates, the symbiotic relationship between academia and industry is expected to further strengthen, creating a virtuous cycle of excellence. The data presented paints a picture of a promising future for IITians, where their capabilities are not only recognized within the Indian job market but are also sought after on a global scale.
The average IIT package, both domestically and abroad, reflects the unparalleled value that these institutions bring to the global workforce. Ultimately, the choice between a domestic and international career path boils down to individual preferences, career goals, and personal circumstances. Whether pursuing a fulfilling career in the thriving Indian job market or venturing into the global arena, IITians are well-positioned to make a lasting impact in the world of technology and innovation.
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