If there are two brands that we associate with premium education, it's the IITs and the IIMs. While the former has already made a mark on the world with its pre-eminent engineering programs, the IITs have also made a strong entry into the world of management education. In fact, the recently released IIT MBA placements reports for the graduating batch of 2022, along with the 2022 NIRF MBA rankings show that the IITs aren't just new to the game—they're amongst India's leading MBA colleges! The average IIT MBA has become a hot ticket for recruiters and MBA aspirants, including and especially engineers.
So, how have the IIT MBA placements been in 2022, two years after b-schools across the world saw a slowed growth in recruitment and salary figures? As it turns out, placements have been exceptional! Here's a breakdown of IIT MBA placements in 2022, including a quick look at year-on-year growth in salary and recruitment figures.
IITs Record up to 60% Growth in Average Salary Offered, SJMSoM Salaries at Par With the Elite | IIT MBA Placements 2022
In 2022, the IITs justified their position amongst India's leading business schools with phenomenal placements for their graduating MBA batches. The most staggering growth figures came in from IIT Roorkee's MBA placements, with the institute recording an incredible 59% increase in the average salary for the batch. The average for the top 50% of the batch also grew 1.59x, year on year. The highest salary stood at INR 25.80 lakhs, up by 36% over the previous year.
Most significantly, IIT Bombay's SJMSoM recorded salary figures at part with some of India's most revered institutes, including some of the IIMs. The institute witnessed an impressive 17% surge in the median salary for the 110-strong MBA batch of 2022, and also saw nearly 1.5x leap in the highest salary offered: INR 49 lakhs. It's no wonder then that the institute is ranked 11th in the NIRF MBA rankings of 2022.
Notably, IIT Madras recorded an astonishing 30% increase in the average salary offered to the MBA batch, also recording a top-50th percentile average of INR 20.27 lakhs. IIT Kanpur also impressed with growth in salaries, recording a nearly 1.25x uptick in the median salary for the batch, despite a 10% increase in the batch size.
IIT Delhi (which has surprisingly limited information available in its placement reports) also recorded a massive surge in the batch's median salary, growing by nearly 30% over the previous and standing at INR 20.60 lakhs. With the exception of VGSoM IIT Kharagpur, every single IIT has recorded exceptional placements despite increases in batch sizes.
Read Next → Placements At Top Non-IIM Colleges In 2022
Consulting Rules the Roost During Placements Season At IITs | IIT MBA Placements 2022
In 2022, Consulting roles/roles with Consulting companies were the most sought-after for MBA batches at the IITs, with the function at the top of the pecking order at IIT Kharagpur and IIT Bombay. IT and Analytics roles were also in-demand. For more information, please visit the official websites of the institutes mentioned in this report.
Note: Domain/industry preference information was unavailable for IITs Roorkee and Madras.
Top Brands on Campus, Top Salaries for Female Candidates, and Other Highlights | IIT MBA Placements 2022
In other highlights, the IITs witnessed top brands hiring from their graduating MBA batches, with companies like Accenture, Microsoft, McKinsey, Bain, Amazon, and many others recruiting IIT MBA students. There were significant surges in recruitment figures at SJMSoM IIT Bombay, and the lowest salary (on-campus) stood at a still-impressive INR 17 lakhs, though the lowest overall salary stood at INR 14 lakhs.
Mentioned below are some other key highlights from IIT MBA placements in 2022.