IIM Mumbai Placement 2024: Average Salary Up by 11% at Rs.31 LPA; Highest Increase Among Top IIMs; Accenture, KPMG, EY hire big

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SK Aggarwal
SK Aggarwal
Editor, MBAUniverse.com
Updated on June 1, 2024
The 21st IIM in India, IIM Mumbai has completed 100% placements 2024. Earlier known as NITIE Mumbai, IIM Mumbai has registered higher average salary at Rs.31 LPA than Rs.27.75 LPA last year while the highest salary has gone down to Rs.54 LPA from Rs.78.20 LPA last year. Out of 446 students, 170 were offered PPOs. Consulting emerged as the top recruiting sector with 18% share in Placements. Accenture, Deloitte, EY, GEP, Kearney, KPMG, Mckinsey, PwC are among the top recruiters.
IIM Mumbai Placement 2024

The 21st IIM of India, IIM Mumbai (Formerly NITIE) has completed 100% placements for its 2022-24 batch. Average salary in IIM Mumbai Placements 2024 has gone up at Rs.31 LPA while the highest salary has gone down at Rs.54 LPA. Out of the 446 students in Placement 2024, the 2022-24 batch of IIM Mumbai secured 170 Pre-Placement Offers.

Ranked  7th best Management Institute by the National Institutional Ranking Framework (NIRF) 2023, IIM Mumbai has consistently witnessed high placement packages over the years. IIM Mumbai is committed to providing high-quality management education, which is benchmarked against global best practices.  The Class of 2024 at IIM Mumbai comprised of 446 students, including fresh graduates and professionals from esteemed institutes like the IITs, NITs, BITS etc. This diverse blend of talent ensured a rich learning environment, which is a key factor in the success of placements.

IIM Mumbai Placements 2024: Registers Highest Increase in Average Salary Among top IIMs

Among the first generation IIMs who have completed final placements 2024, IIM Mumbai has witnessed highest percentage increase in average salary in placement 2024. Except for IIM Bangalore and IIM Mumbai, all IIMs have reported lower average salary figures. Dip in Average Salary is the highest for IIM Indore, a massive 15% drop. IIM Bangalore and IIM Calcutta have barely managed to avoid a dip in salaries while IIM Mumbai has registered 11.7%  increase in Average Salary in Placement 2024.

NIRF Ranking 2023
Status of Placement 2024
Increase or Decrease in Average Salary in Percentage
IIM Ahmedabad
Check IIM Ahmedabad Placements 2024 Report.
Data will be released after IPRS Audit in September/October 2024.
# 2
IIM Bangalore
Check IIM Bangalore Placements 2024 Report. 
1.7 % Increase
# 3
IIM Kozhikode
Check IIM Kozhikode Placements 2024 Report
9.6 % Decrease
# 4
IIM Calcutta
Check IIM Calcutta Placements 2024 Report.
No increase. Same as last year.
# 6
IIM Lucknow
Check IIM Lucknow Placements 2024 Report.
6.8% Decrease
IIM Mumbai
Check IIM Mumbai Placements 2024 Report.
11.7% Increase
# 8
IIM Indore
Check IIM Indore Placements 2024 Report.
15% Decrease

IIM Mumbai Placements 2024: Key Highlights
IIM Mumbai has a rich history of over six decades and has earned the prestigious distinction of being one of India's leading B-Schools. The curriculum here is designed to address the evolving business challenges along with incorporating industry best practices. Situated in the financial capital of India, IIM Mumbai benefits from close ties with leading corporate entities. After being renamed as IIM Mumbai, as per Gazette notification dated 16th August, 2023, this 21st IIM has launched three MBA programs with substantial increase in number of seats namely Master of Business Administration (MBA), MBA (Operations and Supply Chain Management), MBA (Sustainability Management).  Key highlights of IIM Mumbai placements 2024 are as below:

  • Average Salary goes up by 11.7% at Rs.31 LPA in Placement 2024 from Rs.27.75 LPA last year
  • Highest Salary goes down at Rs.54 LPA in Placement 2024 from Rs.78.20 LPA last year
  • The average Compensation for the top 10% of the batch was Rs. 47.29 LPA
  • Average salary for top 50%, batch was Rs. 33.84 LPA
  • 180 Marquee companies participated in Placement 2024 including 67 first time recruiters
  • 446 Students participated in Placement 2024 including 373 Male and 73 female students
  • Number of PPOs offered 170
  • Average Salary for PPOs: Rs.29.44 LPA
  • Manufacturing was the top recruiting sector with 19% share in placements followed by Consulting at 18% and FMCG at 16%
  • Top Recruiters include Accenture, Deloitte, EY, GEP, Kearney, KPMG, Mckinsey & Co., Miebach, American Express, Axis Bank, CRISIL, Godrej, Haleon, Hindustan Unilever, ITC, Johnson & Johnson, Kellogg's, L'Oréal, Marico, Mondelēz, Nestlé, Pernod Ricard, Procter & Gamble, Reckitt, Cognizant, Genpact, Microsoft, Reliance Industries Limited​

Sector wise Placements: Top Recruiters
The placement season saw participation from companies across various sectors, including BFSI, Consulting, FMCG, IT, Logistics, Manufacturing, Pharma & Retail/ E-commerce. This broad range of industries underscores the program's relevance and adaptability in today's dynamic business environment. A total of 180 companies participated in the final placement drive, indicating strong industry interest in the program's graduates

Top recruiters in Banking, Financial Services & Insurance (BFSI) sector included American Express, Axis Bank, Crisil, DMI Finance, ETLI, ESAF Small Finance Bank, Federal Bank, HDFC Bank, IBDIC, IDFC FIRST Bank, Kotak Mahindra Bank, Mazars Advisory LLP, SBI Securities, TATA AIA, etc.

Accenture Strategy & Consulting, Accenture Technology Consulting, Acuvon Consulting, Deloitte India, Deloitte USI, EY, GEP, Kearney, KPMG, Mckinsey & Co., Miebach Consulting, PwC India, PwC US Advisory, Vector Consulting, were the top recruiters in Consulting Sector

Top recruiters in FMCG sector included Britannia, Dabur, Diageo, Emami Group, Godrej Consumer Products Limited, Haleon, Hindustan Coco-Cola Beverages, Hindustan Unilever Limited, ITC, Johnson & Johnson, Kellogg's, L'Oréal, Marico, Mondelēz, Nestlé, Pernod Ricard, Procter & Gamble, Reckitt, Tata Consumer Products Limited, etc. 

IT / Technology
In the IT/Technology sector top recruiters included Airtel, Baker Hughes, Bristlecone, Cisco, Cognizant, First Source, Genpact, Gyansys, Hexaware, HSBC Technology, Merilytics, Microsoft, NTT Data, o9 Solutions, Pine Labs, Play Simple Games, Sprinklr, Tiger Analytics, Wipro, etc.

Top recruiters in Manufacturing sector were Asian Paints, Avery Dennison, Bajaj Auto, bp, Crompton Greaves, Cummins, DCM Shriram, Everest Industries, Exide, Hero MotoCorp, Jindal Stainless Limited, Kalyani Steels, Micron, Modroof, Neterwala Group, PI Industries, Pidilite Industries Limited, Reliance Industries Limited, Schneider Electric, Shell, Tata Electronics, UPL, V-Guard, Varroc, Vikram Solar, etc.

Pharma & Healthcare
Top recruiters included Abbott, Cipla, Cloudnine Group of Hospitals, DRL, Lupin, Zydus Lifesciences, etc. 

Retail & E-Commerce
This sector included top recruiters like ABFRL, Amazon, Blinkit, Clicktech Retail, Flipkart, Jubilant Foodworks, Max Fashion - Landmark Group, Meesho, Modenik Lifestyle, Puma, Purplle, Reliance Brands Limited, Zepto, etc. 

Other top recruiters in various sectors included 91Squarefeet, Adani Group, Air India, Fashion TV, Godrej Properties Limited, IHCL, Landmark Group, Reliance Jio Infocomm Limited, Sobha Realty, TAS, Tata Play, Trafigura, Wakefit, etc.

Roles & Profiles Offered
The variety of roles offered at IIM Mumbai is not only a testament to the popularity and success of its management program but also indicates its effectiveness. Regular recruiters at IIM Mumbai have shown their confidence in the quality of talent by offering more of their coveted roles in addition to their usual ones, which highlights the program's excellence. The 2022-24 batch of IIM Mumbai once again showcased their capabilities by securing a total of 170 Pre-Placement Offers from their summer internship organizations and through various B-school competitions.

IIM Mumbai students are equipped with not only theoretical knowledge but also practical skills necessary for success in the dynamic business landscape. IIM Mumbai is fully dedicated to nurturing young professionals who can not only devise innovative solutions and strategies but also adeptly manage the technological advancements driving the business world. The B-school aims  to address the growing demand for skilled business leaders who can contribute significantly to the country's economic development.

Till August 2023, there was no full fledged IIM in Mumbai although the State of Maharashtra has campuses of two IIMs - IIM Nagpur and IIM Indore (Mumbai campus). Government of India decided not to set up a new building or campus for IIM Mumbai, instead it has included one of the highly ranked and leading management institutes of India, NITIE as IIM Mumbai, to the family of 20 IIMs and created 21st IIM. NITIE Mumbai, carries a legacy of 60 years. With NITIE becoming the first full fledged IIM in Mumbai, the city has some of the best B-schools in India including SPJIMR, SJMSoM- IIT Bombay, JBIMS, NMIMS among others.

IIM Mumbai (NITIE) is located in Powai, near Vihar Lake. The B-school has a sprawling campus of 67 acres with ultra modern facilities for the students and faculty. NITIE is a student-run institute that has around 30 Committees and Forums that the students can be a part of. Around a year, these committees organize various events and programs like Sansmaran – Alumni Meet, Avartan – Flagship Business fest of NITIE, Mahamandi, Arohan, Panel discussions, Leadership talks, Social Volunteering works among others.

Stay tuned to MBAUniverse.com for more updates on IIM Mumbai