Top offers dry up! What is the salary range for IIT graduates this year? Compensation from top 10 engineering institutes declines

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Times of India 1w ago

Top offers dry up! What is the salary range for IIT graduates this year? Compensation from top 10 engineering institutes declines - Times of India

Quick Summary:

TeamLease Services conducted a study in May, which was shared with the financial daily, indicates that the annual pay at old IITs has dropped to a median of Rs 15-16 lakh, compared to Rs 18-20 lakh in 2023.

The compensation for graduates from the top 10 engineering institutes, including eight IITs, has seen a slight decrease for the class of 2024.

According to Reddy, factors contributing to the decline in median salaries include the global economic slowdown, industry shifts favoring sectors such as manufacturing and electric vehicles (EVs), increased competition, and companies preferring to offer internships rather than full-time positions.