SJMSOM-IIT Bombay MBA Placement 2023: Completes 100% Placement with 11% Rise in Average Salary; Goes Up at Rs.28.88 LPA; Accenture, Amazon, PwC, EXL, HCL hire big

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March 27, 2023
SJMSOM – IIT Bombay has completed MBA Placement 2023 achieving yet again 100% placements with 11% rise in average salary despite the challenging Economic scenario. While the average salary has increased by 11% at Rs.28.88 LPA from Rs.25.93 LPA last year, the highest salary in placement 2023 has gone up at Rs.54 LPA from Rs.49 LPA last year. Accenture, Deloitte, PwC, Amazon among others were the prominent recruiters
IIT Bombay MBA Final Placement 2023

Shailesh J.Mehta School of Management (SJMSOM) – IIT Bombay has completed Final Placement 2023 for its MBA 2021-23 batch with 11% increase in average salary proving wrong the myths of economic slow down. While Average salary SJMSOM Placement 2023 has gone up at Rs.28.88 LPA from Rs.25.93 LPA last year, the highest salary has gone up at Rs.54 LPA from Rs. 49 LPA last year. SJMSOM IIT Bombay has again achieved 100% placements for its MBA 2021-23 batch and this year female student has received the highest salary while the average salary for female students is higher than the average salary for the overall batch.

The two-year MBA at SJMSOM-IIT Bombay is a full-time residential course for graduates from all disciplines wishing to choose a career in management. SJMSoM IIT Bombay was recently ranked #11 in the Govt of India, MHRD NIRF Ranking 2022 among top 125 management institutes in India.

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Sharing the SJMSOM IIT Bombay placement 2023 highlights, Prof S N Rao, Head, SJMSOM IIT Bombay said, “I am pleased to announce the completion of the final placement for the 27th batch of the Management program with 100% placements. The reputation of SJMSOM, IIT Bombay, as one of the best business schools in India was once again reaffirmed by the industry. The school’s pedagogy and environment helped students perform to the best of their abilities. Our pedagogy leverages the student’s vast depth of knowledge and their unique perspective, thereby instilling divergent viewpoints in oneself.” 

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SJMSOM IIT Bombay MBA Placement 2023: Key Highlights

  • Achieves 100% Placement for MBA 2021-23 batch
  • Average Salary increased by 11% to Rs.28.88 LPA from Rs.25.93 LPA last year
  • Highest salary goes up at Rs.54 LPA from Rs.49 LPA last year
  • Median Salary increased to Rs.26.64 LPA from Rs. 25.80 LPA last year
  • Lowest salary in placements 2023 was Rs.20 LPA
  • Batch size: 115 Students
  • 50% Batch received PPOs
  • Average Salary for Top 25% Batch: Rs.40.80 LPA
  • Average Salary for top 50%: Rs.34.58 LPA
  • Average Salary for Top 75% Batch: Rs. 31.41 LPA
  • Average salary for female students: Rs.29.35 LPA
  • Average work experience of the batch: 19 months
  • Top Recruiting domains: FMCG/FMCD, Conglomerate with 48% Students Getting Placements
  • Top Recruiters:  Accenture, Amazon, PwC, Deloitte, EXL, HCL, Wipro among others

SJMSoM IIT Bombay Placements 2023: Key Trends
SJMSoM IIT Bombay has a consistent record of 100% placements over the years. Some of the key Placement Trends for MBA 2021-23 batch are:

  • Consistent rise in Average salary over the years with 100% placements
  • Average salary registered 11% increase in Placement 2023
  • Highest Salary at Rs.54 LPA offered to Female student
  • Average salary for female students at Rs.29.35 LPA is higher than for overall batch
  • Lowest salary for female student at Rs.23.50 LPA is higher the overall lowest salary for the batch at Rs.20 LPA 

SJMSoM MBA Placements: Previous Salary Trends 
Last few years salary trends in placements are as below:

IIT Bombay MBA Placement Year
Average Salary (Rs. In lakhs)
Highest Salary ( lakhs)
Placement 2023
28.88 LPA
54.00 LPA
Placement 2022
25.93 LPA
49.00 LPA
Placement 2021
21.96 LPA
32.00 LPA
Placement 2020
20.80 LPA
32.40 LPA

Top Recruiters at SJMSOM
SJMSOM witnessed marquee recruiters across the sectors in Placement 2023. SJMSoM students got offers from across various sectors such as BFSI, Conglomerate, Consulting, E-commerce, FMCG/FMCD, and IT/ITeS, among others. Students were placed for the most sought-after profiles in Investment Banking, Management Consulting, Product Management, and Strategy, among others. The legacy recruiters strengthened their faith in the institution, along with multiple new recruiters who participated in this year’s placement season. SJMSoM hosted prominent recruiters, including numerous Fortune 500 companies. Prominent recruiters in SJMSOM Placement 2023 include Accenture, Amazon, EXL Analytics, Google, HCL Tech, Wipro, Deloitte USI, GEP, IBM Consulting, Nation with Namo, PwC US Advisory, Quintics, DBS Bank, Edelweiss Alternative Asset Advisors, Fullerton India, ICICI Bank, Indus Valley Partners, JP Morgan Chase & Co., Nomura, Yes Bank, Asian Paints, Atomberg, Colgate Palmolive, Diageo, HUL, ITC, Kimberly Clark, Marico, Mondelēz International, P&G, Reckitt, Tata Consumers Products Ltd, ABFRL, Adani Group, Cargill, Reliance Industries Ltd., Games24x7, Landmark Group, PlaySimple Games, Rebel Foods, Reliance Jio, Sobha Realty, Sun Pharma among others were the distinguished recruiters in SJMSoM MBA Placements 2023.

New Recruiters in SJMSoM Placements 2023
New recruiters include ABFRL, Adani Group, Atomberg, Cargill, DBS Bank, Diageo, Edelweiss Alternative Asset Advisors, Fullerton India, Games24x7, Google, HCLTech, HUL, IBM Consulting, ITC, Landmark Group, Nation with Namo, Reckitt, Reliance Jio, and Sobha Realty.

SJMSOM MBA Class 2023: Batch Profile
SJMSOM, IIT Bombay continues to be the choice for top graduates in the country, and the batch profile of 2021-23 reinstates the same. Graduates from IlTs, NITs, BITS Pilani and other reputed institutes are pursuing MBA from SJMSOM.

The class of 2023 is a blend of fresh graduates, professionals and budding entrepreneurs, with an average work experience of 19 months from some of the top organizations in various profiles like Analytics, Consulting, IT, Operations, and Sales & Marketing.

MBA 2021-23 Batch Profile

  • Batch size: 115 students
  • Females: 23%
  • Students with work exp: 71%
  • Average Work Experience: 19 months

The students have been consistent performers in extra-curricular activities and have proved their mettle in national level competitions in sports, music, dramatics, literature, and photography. A great many students have completed certifications like Chartered Financial Analyst (CFA), FLIP, and Six Sigma.

Work Experience
Average work experience of the batch is 19 months and ranges from less than one year to more than 36 months. The percentage of students with varied duration of work experience is shared below:

Period of Work Experience
Percentage of Students in the MBA 2021-23 Batch
1-12 Months
13-24 Months
25-36 Months
36+ Months

Highlights of Sectoral Placements 2023
FMCG/FMCD, Conglomerate is the top recruiting sector with 48% students getting placements. Key highlights and top recruiters in respective sector are as below:

Students Split
Conglomerate & Others
IT & E-Commerce

Sector wise placement in detail is shared below

IT/E-Commerce: Average Salary – Rs.31.72 LPA
Eminent firms like Accenture, Amazon, EXL Analytics, Google, HCLTech, and Wipro were among the top recruiters in the sector, offering roles in Corporate Branding, Cybersecurity, Data Science & Analytics, PreSales Consulting, Program Management, Project Management, Quality & Process Excellence, Solution Stream, Strategy Consulting, among others.

Consulting: Average Salary -Rs.29.09 LPA
Prominent consulting firms like Accenture Strategy, Deloitte USI, GEP, IBM Consulting, Nation with Namo, PwC US Advisory, and Quintics offered highly soughtafter profiles in Business Transformation Consulting, Data Analytics, Management Consulting, Operations Consulting, Private Equity Value Creation, Strategy Consulting, and Supply Chain & Procurement Consulting.

FMCG and FMCD: Average Salary-Rs.28.88 LPA
FMCG and FMCD giants continues to show their faith in the institution like Asian Paints, Atomberg, Colgate Palmolive, Diageo, HUL, ITC, Kimberly Clark, Marico, Mondelēz International, P&G, Reckitt, and Tata Consumers Products Ltd. offered coveted roles in Digital & Technology, IT, Operations, Sales & Marketing, Supply Chain Management, Strategy, and Systems among others.

Conglomerates & Others: Average Salary-Rs.28.54 LPA
Conglomerates like ABFRL, Adani Group, Cargill, and Reliance Industries Ltd. offered roles in Operations, Retail Planning, Strategy, and Supply Chain Planning, among others. Games24x7, Landmark Group, PlaySimple Games, Rebel Foods, Reliance Jio, Sobha Realty, and Sun Pharma were among the distinguished recruiters offering roles in Marketing, Operations, Product Management, and Supply Chain Management

BFSI: Average Salary – Rs.25.63 LPA
The sector saw prestigious roles offered by esteemed recruiters like DBS Bank, Edelweiss Alternative Asset Advisors, Fullerton India, ICICI Bank, Indus Valley Partners, JP Morgan Chase & Co., Nomura, and Yes Bank in Credit Analysis, Digital Business, Financial and Capital Reporting, Investment Banking, Product Management, Treasury, Wholesale Banking, among others

On the occasion, Prof. Mayank Pareek Faculty Coordinator, SJMSoM, IIT Bombay said,It gives me immense pleasure to announce the 100% placements for the class of 2021-23. Eminent firms from various sectors offered roles to students in highly sought-after profiles. The entire placement exercise was conducted in a hybrid mode to offer a multitude of options in the corporate as per their convenience. The high number of offers by the companies, even with the change in business, owes to the student’s knowledge and skill in their respective domains. SJMSOM, IIT Bombay, was the top choice for recruitment for recruiters and saw participation from numerous new recruiters.”

Shailesh J. Mehta School of Management is an academic unit of IITB and has its distinct place as a national and global business management school. Apart from MBA, SJMSOM offers post-graduate Master of Management (MOM) and Ph. D. programmes and has recently launched an Executive MBA, jointly with the Washington University at St. Louise, USA.  SJMSOM provides a well- designed curriculum and training to the students preparing them to meet the contemporary challenges in their professional life ahead.

Students at SJMSOM get opportunity to interact with faculty associated in all domains such as IT, Bio-informatics, Industrial Design, Rural Development, Climate and Sustainable Growth and Transportation Planning to appreciate technology and apply in management.

Society for Innovation and Entrepreneurship (SINE) and Entrepreneurship Cell (eCell) provide opportunity to all stakeholders of IITB to learn from the experiences of budding ventures.  SJMSOM is one of the five select founding member institutes of the National Entrepreneurship Network (NEN).

The School has a continuous process of interaction with industry leaders through Seminars, Lectures and other students’ festivals/events/ continuum / activities (clubs) related to all functions of Management. SJMSOM alumni serve at the different leadership positions in the various private, public, multinational, government and non-profit organizations.

Stay tuned to for more updates on SJMSOM-IIT Bombay

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