The recent placement report by India’s premier engineering institution, Indian Institutes of Technology-Bombay, stunned many since the lowest yearly compensation has been reduced to Rs 4 lakh. While the best IITs provide the greatest remuneration packages in crores, the average annual income is between Rs 20 and Rs 28 lakh. The analysts blame it on the worldwide economic condition.
Let us have a look at the lowest salary paid at some of the best IITs since 2019.
IIT Placement: The lowest salary
IIT Madras
The National Institutional Ranking Framework (NIRF) 2024 ranks IIT Madras as the best engineering college. In IIT Madras, the average income for BTech graduates has grown from Rs 29.28 lakh in 2018-19 to Rs 41.72 lakh per annum in 2021-22, the lowest salary hovered between Rs 5.4 lakh per annum in 2019-20 to Rs 6 lakh per annum in 2023-24.
IIT Placement: Lowest salaries in the past 5 years (lakh per annum)
| IITs | 2023-24 | 2022-23 | 2021-22 | 2020-21 | 2019-20 |
| IIT Madras | 6 lpa | 5.40 lpa | 3 lpa | 3.67 lpa | 5.4 lpa |
| IIT Bombay | 6 lpa | 6 lpa | – | 5.43 lpa | – |
| IIT Kharagpur | 8 lpa | 7 lpa | 16 lpa | 9.5 lpa | 8.8 lpa |
| IIT Roorkee | 6-8 lpa | 6-8 lpa | 6-8 lpa | 6-8 lpa | 6-8 lpa |
| IIT Guwahati | 7 lpa | 5.23 lpa | 7 lpa | 7 lpa | 7 lpa |
IIT Delhi
IIT Delhi obtained the second rank in NIRF 2024 in the engineering category. According to the IIT Delhi summer internship placements report 2023, the highest stipend was Rs 4.04 lakh per month and the average stipend was Rs 2.63 lakh per month. The lowest salary can be as low as 10 lakh per annum.
IIT Bombay
IIT Bombay ranks third in the NIRF 2024 engineering rankings. In the December drive of IIT Bombay, 22 students received Rs one crore plus offers in phase I of placement. Further, three were domestic while 19 were at international locations. The lowest annual package this year has decreased to Rs 4 lakh, and 10 offers were made by seven companies in the range of Rs 4 to 6 lakh per annum.
IIT Kanpur
IIT Kanpur obtained a fourth rank under the engineering category in NIRF 2024. In 2023, a total of 989 offers, including 22 international offers were received in the first phase of the 2023-24 placement session at the IIT Kanpur. The current average salary stands at Rs 26.27 lakh per annum.
IIT Kharagpur
IIT Kharagpur in NIRF 2024 is ranked at the 5th under engineering category. IIT Kharagpur in its 2023 placement session had bagged more than 700 placement offers including Pre-Placement Offers (PPOs) on the very first day. More than 121 profiles have been opened for the students who have received more than 19 international offers with 6 students being offered more than Rs 1 crore CTC on the first day of the placement drive.
Meanwhile, IITs have chosen not to publicize wage packages for the time being in order to guarantee that competitiveness does not have an adverse effect on students’ mental health. “The majority of these (crore-worth) proposals are international, and people sometimes overlook this when looking at the stats. This can have a significant impact on students’ mental health, thus we urged that IIT-Bombay and other IITs refrain from disclosing any information on CTC in the public realm. “This is very personal information that should be kept between the candidate and the employer,” an AIPC member previously told The Indian Express.
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Source: The Indian Express
