IIT Bombay Placements 2023: MBA Batch Archives 100% Placements with Highest Package at INR 54 LPA | Top Recruiters – OPTUM, Colgate, EY & More

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3 years ago

Overview: IIT Bombay MBA Placement Success 2023

The Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay, has once again showcased stellar performance in its MBA Placements 2023. The 2021–23 batch achieved 100% placement, with both highest and average CTCs recording impressive growth despite market challenges.

Highest Package: INR 54 LPA
Average Package: INR 28.88 LPA (up 11% YoY)
Median Package: INR 26.64 LPA
Batch Size: 115 Students
PPOs Received: 50%
Top Recruiters: Accenture, Amazon, PwC, Deloitte, EXL, HCL, Wipro, OPTUM, Colgate, EY

Female students also achieved record placements — securing the highest CTC of INR 54 LPA and an average of INR 29.35 LPA, surpassing the overall batch average.

Article Content Overview

IIT Bombay Placements 2023: Key Highlights

Particulars	Details
Placement Rate	100%
Highest CTC	INR 54 LPA
Average CTC	INR 28.88 LPA
Median CTC	INR 26.64 LPA
Average CTC (Top 25%)	INR 40.80 LPA
Average CTC (Top 50%)	INR 34.58 LPA
PPO Offers	50% of Batch
Average Work Experience	19 months

Top Recruiting domains: FMCG/FMCD, Conglomerate with 48% Students Getting Placement
Top Recruiters: Accenture, Amazon, PwC, Deloitte, EXL, HCL, and Wipro among others

Female Placement Highlights (MBA Batch 2023)

Metric	Salary (INR LPA)
Highest CTC	54.00
Average CTC	29.35
Median CTC	28.90
Lowest CTC	23.50

IIT Bombay MBA 2023 – PPO Highlights

Metric	Data
PPO Percentage	50%
Average CTC	30.35 LPA
Lowest PPO CTC	16.00 LPA

Average CTC Split

Category	Average CTC (LPA)
Top 25%	40.80
Top 50%	34.58
Top 75%	31.41

IIT Bombay Placements 2023: Highlights of Sectoral Placements 2023

The image provides the percentage split of students and companies in different industries. The industries are categorised as FMCG/FMCD, Others, BFSI, Consulting, and IT/E-comm.

According to the table, 24% of students and 27% of companies belong to the FMCG/FMCD industry. The Others industry also has an equal percentage split of 24% among students and 25% among companies.

14% of students and 18% of companies belong to the BFSI industry, while the Consulting industry has 21% of students and 16% of companies. Finally, the IT/E-comm. The industry has 17% of students and 14% of companies.

SJMSOM had a highly successful final placement season with impressive performances by students across various industries such as BFSI, Conglomerate, Consulting, E-commerce, FMCG/FMCD, and IT/ITeS. Students were quickly placed into highly sought-after positions in Investment Banking, Management Consulting, Product Management, and Strategy, among others. Both long-time recruiters and new recruiters, including well-known Fortune 500 companies, showed confidence in the institution. This year’s placement season included new recruiters such as ABFRL, Adani Group, Atomberg, Cargill, DBS Bank, Diageo, Edelweiss Alternative Asset Advisors, Fullerton India, Games24x7, Google, HCLTech, HUL, IBM Consulting, ITC, Landmark Group, Nation with Namo, Reckitt, Reliance Jio, and Sobha Realty.

Sector-Wise Placement Summary 2023

Sector	Average CTC	Details on Profile & Top Recruiters
BFSI	25.63 L	Prestigious positions in various areas such as Credit Analysis, Digital Business, Financial and Capital Reporting, Investment Banking, Product Management, Treasury, and Wholesale Banking were offered by distinguished recruiters such as DBS Bank, Edelweiss Alternative Asset Advisors, Fullerton India, ICICI Bank, Indus Valley Partners, JP Morgan Chase & Co., Nomura, and Yes Bank in the aforementioned sector.
Consulting	29.09 L	Highly coveted positions in Business Transformation Consulting, Data Analytics, Management Consulting, Operations Consulting, Private Equity Value Creation, Strategy Consulting, and Supply Chain & Procurement Consulting were provided by distinguished consulting firms such as Accenture Strategy, Deloitte USI, GEP, IBM Consulting, Nation with Namo, PwC US Advisory, and Quintics.
IT/E-commercee	31.72 L	Top recruiters in the sector, such as Accenture, Amazon, EXL Analytics, Google, HCLTech, and Wipro, offered various roles, including Corporate Branding, Cybersecurity, Data Science & Analytics, PreSales Consulting, Program Management, Project Management, Quality & Process Excellence, Solution Stream, and Strategy Consulting, among others.
FMCG/FMCD	28.88 L	The FMCG and FMCD giants, including Asian Paints, Atomberg, Colgate Palmolive, Diageo, HUL, ITC, Kimberly Clark, Marico, Mondelēz International, P&G, Reckitt, Tata Consumers Products Ltd., continued to display their confidence in the institution. These companies provided highly desirable positions in various fields such as Digital & Technology, IT, Operations, Sales & Marketing, Supply Chain Management, Strategy, and Systems.
Conglomerate & others	28.54 L	ABFRL, Adani Group, Cargill, and Reliance Industries Ltd. were among the conglomerates that offered roles in Operations, Retail Planning, Strategy, and Supply Chain Planning, among other areas. Games24x7, Landmark Group, PlaySimple Games, Rebel Foods, Reliance Jio, Sobha Realty, and Sun Pharma were some of the prominent recruiters offering positions in Marketing, Operations, Product Management, and Supply Chain Management.

Access the full report HERE

IIT Bombay Placement 2022: Key Highlights

The placement drive of IIT Bombay MBA had 1723 total offers received by the batch.
The offers included 45 international bids from various countries, with 1382 selections.
The first phase involved 315 recruiters, with 248 pre-placement offers made and 202 of them being accepted.
The highest international package offered was over INR 2.1 CPA, and the highest domestic salary was over INR 1 CPA.
There were 7 international packages and 5 domestic packages with more than one CPA among all offers, with an average salary package of INR 25 LPA.
In the final 2021 placement report released by IIT Bombay, 83.58 per cent of students were placed, with 1207 students receiving job offers.
The average CTC offered was INR 17.91 LPA, and engineering and technology dominated the placements.

Access the full report HERE | Placements at IIT Bombay 2022

IIT Bombay Placements 2023 Report: Y-O-Y Trends Witnessed during IIT Bombay MBA Placements

Year	Highest Salary Offered (in INR)	Average Salary Offered (in INR)	Number of Offers Made
2023	INR 54 LPA	INR 28.88 LPA	120
2022	INR 49 LPA	INR 25.93 LPA	110
2021	32 LPA	21.96 LPA	83
2020	32.8 LPA	20.8 LPA	112
2019	32.4 LPA	20.8 LPA	104
2018	27.5 LPA	19.06 LPA	95

Placement Trend in Average Salary offered Y-O-Y

The primary trend observed over the past five years is the consistent increase in the average salary offered during the placement season. In 2017, the average salary was approximately 11.41 lakh per annum, subsequently increasing to approximately 18.5 lakh per annum in 2018 and around 10.34 lakh per annum in 2019.

IIT Bombay Placement Trends (2017–2023)

Over the past six years, IIT Bombay has witnessed a steady rise in job offers during placement seasons, reflecting its growing industry reputation.

Job Offers:

In 2017, around 1,114 offers were made, which increased slightly to 1,122 in 2018 and 1,319 in 2019. Although the 2020 figures were not disclosed, placements picked up strongly in 2021 with 1,878 offers. However, there was a slight dip in 2023 with 1,500 job offers.
Recruiter Participation:

The number of participating recruiters has fluctuated over the years, peaking at 361 in 2018, showcasing strong corporate engagement with the institute.
Average Salary Trends:

The average salary has shown consistent growth since 2017. It rose sharply from INR 11.41 LPA in 2017 to INR 18.5 LPA in 2018, dipped slightly to INR 18.4 LPA in 2020, and then climbed again to INR 22.7 LPA in 2021. As of 2023, the average package stood at INR 23.26 LPA, maintaining a strong upward trajectory overall.

IIT Bombay Placements 2023: Salary Tends Across Courses

Courses	Highest CTC	Average CTC	Median CTC	Top Recruiters
BTech	3.67 Cr	23.26 LPA	18.80 LPA	Uber, Ruberik, Millennium, Black Stone
Mtech	2.1 Cr	22.7 LPA	14.76 LPA	Microsoft Amazon Goldman Sachs Intel Google Tata Motors
MBA	54.00 LPA	28.88 LPA	25.76 LPA	Accenture, Amazon, PwC, EXL, HCL

IIT Bombay MBA Placements 2023 – Frequently Asked Questions (FAQs)

Placement Packages & Salary Statistics

1. What is the highest package received for IIT Bombay MBA placements in 2023?

The highest domestic package offered during IIT Bombay MBA placements 2023 was INR 54 LPA.

2. What is the average package offered at IIT Bombay for the 2023 placement drive?

The average package for the 2023 MBA batch stood at INR 28.88 LPA, reflecting an 11% increase compared to last year.

3. Was there any international package offered to IIT Bombay MBA students in 2023?

No official data has been released on international offers for the MBA 2023 batch at IIT Bombay.

4. What is the highest and lowest package offered in IIT Bombay MBA placements 2023?

The highest package was INR 54 LPA, while the lowest CTC was INR 20 LPA. The median CTC was INR 26.64 LPA.

5. Did the highest package increase compared to 2022?

Yes, the highest package rose from INR 49 LPA in 2022 to INR 54 LPA in 2023, showing strong placement growth.

Recruiters & Placement Rate

6. What was the placement rate for the MBA batch at IIT Bombay?

The MBA 2021–23 batch at SJMSOM achieved a 100% placement rate.

7. Which are the top companies that hire MBAs from IIT Bombay?

Top recruiters include Bain & Co., Accenture, Microsoft, KPMG, OPTUM, Colgate, EY, Amazon, and PwC.

8. Do companies like Microsoft participate in IIT Bombay MBA placements?

Yes. Microsoft has consistently been among the top-paying recruiters for the past three years across IIT campuses, including IIT Bombay.

9. How many companies participated in IIT Bombay MBA placements 2023?

Over 100 companies participated in the IIT Bombay MBA placement drive 2023.

10. Which institute had a higher CTC in 2023 – IIT Delhi or IIT Bombay?

IIT Bombay reported a highest package of INR 54 LPA, outperforming IIT Delhi’s INR 36.7 LPA.

Engineering & Branch-wise Placement Data

11. What is IIT Bombay’s highest package for BTech placements in 2023?

Highest Package (Domestic): INR 1.31 CPA
Average Package: INR 23.26 LPA
Highest International Offer: INR 3.67 CPA

12. What are the branch-wise placement stats for IIT Bombay 2022?

Branch	Average Package (INR LPA)	No. of Offers
Engineering	24.00	314
IT/Software	27.05	267
Finance	28.40	154
Consultancy	18.02	87

The Engineering and Technology sector secured the highest average package, followed by Finance and Consulting.

13. How many offers were received during IIT Bombay BTech placements in 2023?

The IIT Bombay Engineering Placement Cell reported 1,348 total offers in 2023.

14. How many students were placed from the BTech program?

A total of 1,431 students were successfully placed in the BTech program across top companies.

15. How many IIT Bombay students received a package of 1 crore or more?

In 2023, 25 students from IIT Bombay received offers above INR 1 crore per annum.

Other Course & Salary Insights

16. What is the salary after completing M.Sc. in Statistics from IIT Bombay?

The CTC range for M.Sc. Statistics graduates varies between INR 8.5 LPA (lowest) and INR 21 LPA (highest).

17. What was the highest international and domestic package in IIT Bombay placements 2022?

International Package: Over INR 2.1 CPA
Domestic Package: Over INR 1 CPA

Campus, Process & Alumni Information

18. Where is the IIT Bombay MBA campus located?

The SJMSOM (Shailesh J. Mehta School of Management) is located at:

IIT Bombay Campus, Main Gate Road, Powai, Mumbai, Maharashtra – 400076.

19. What is the final placement process for IIT Bombay MBA?

The placement process begins in the fourth term and includes:

Pre-placement talks
Resume shortlisting
Interviews (Phases 1 & 2)
Summer internships (often leading to PPOs)

It concludes with a final placement week where recruiters offer roles across diverse sectors such as Consulting, FMCG, BFSI, and IT.

20. Is there a group for IIT Bombay alumni on PG?

Hi, if you are looking for placement reviews from IIT Bombay alumni, join the community on PG – [OFFICIAL] SJMSOM , IIT Bombay – Admissions [2023-25]

For more information on IIT Bombay MBA, check out our recommended read – [SJMSOM IIT Bombay], Mumbai – Placement and Packages | IIT Bombay: Scholarships – Eligibility & Amount for 2022-23