IIT placement salaries fall by 50%

The average pre-placement salaries offered to students of India's foremost technology schools (IITs) are lower by about half this year as compared to the same time last year, according to sources.

The number of companies who have registered for final placements too, has drastically dropped by 45% this year, experts said on condition of anonymity.

The average salary for students passing out this year has significantly dropped from Rs9 lakh earlier to Rs5 lakh, said officials at IIT Bombay.

The students from IIT Kharagpur face an even graver situation with their salaries dropping 65% to Rs4 lakh.

Only 12 companies have registered with IIT Bombay for the final campus placements so far, as compared to 45 companies by October last year. At IIT Kharagpur, 10 companies have registered for the final placement, down from 38 earlier.

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