Indian Institute of Technology, The University of Bombay, one of India’s leading engineering universities, is known for its high employment rate and generous salary system. However, recent data shows a significant change in the salary trends of its graduates.
Historically, IIT Bombay has seen an increase in the average salary package offered to its graduates. For instance, from 2017 to 2018, the average salary package surged from INR 1.625 million to INR 1.749 million, registering an increase of 7.6%. This trend continued thereafter, with a significant increase driven by the strong demand for IIT graduates in the job market.
However, recent data indicates that this growth trajectory is slowing significantly. The average salary package for 2023-24 will reach Rs 2.35 lakh, indicating a 7.71% increase over the previous year. This is a significant deceleration compared to the 26.74% growth observed from 2020-21 to 2021-22. The increase in 2022-23 was just 4.9%.
The slowdown suggests that while salaries remain high, their rate of increase is slowing.
