Salary packages of IIT graduates also decreased amid drop in placements in 2024: Report

New Delhi: Due to the slowdown in placements of engineers graduating from the Indian Institutes of Technology (IITs) this year, their annual salary package has also decreased compared to previous years.

The Economic Times has reported, citing separate studies by Deloitte and TeamLease, that the annual salary of students graduating from IITs this year has been between Rs 15-16 lakh. The Deloitte Campus Workforce Trends, 2024 study indicates that the salaries of students of the top 10 engineering institutes (eight of which are IITs) ranked by the National Institutional Ranking Framework have declined marginally.

Deloitte India partner Nilesh Gupta told the Economic Times, ‘According to our study, they can expect an average annual salary of Rs 16.3 lakh in 2024. According to a study conducted by TeamLease in May, the average annual salary in 2024 is expected to be Rs 15-16 lakh, up from Rs 18-20 lakh in 2023. The TeamLease study shows that the average annual salary in the new IITs has come down from Rs 15-16 lakh to Rs 12-14 lakh.

According to the report, out of 17,900 students registered across all IITs in 2022, 14,490 got placements and 3,410 did not get a place.

This year, the number of registered students increased to 21,500, of which only 13,410 got jobs, The Economic Times reported.

Courtesy : Hindi News