Triple IT Hyderabad reports rise to ₹32 lakh median package
HYDERABAD: The 2023-24 placement report released by the Union education ministry has revealed that median annual pay packages for BTech graduates at IITs have declined compared to the previous year.
Interestingly, newer IITs have outperformed older, first-generation campuses. IIT Patna recorded the highest median package at ₹22 lakh, followed by IIT Hyderabad at ₹21 lakh. These figures surpassed those of IIT Bombay, Delhi, Madras, Kanpur and Kharagpur.
In contrast, International Institute of Information Technology (IIIT) Hyderabad registered an increase in its median annual package from ₹30.3 lakh in 2022-23 to ₹32 lakh in 2023-24.
Why median matters
While most colleges announce “average salaries,” experts say median packages better reflect real trends. For example, if five students secure offers of ₹30 lakh, ₹15 lakh, ₹12 lakh, ₹10 lakh and ₹5 lakh, the average salary works out to ₹14.4 lakh, but the median is ₹12 lakh. This indicates that half the students earned more than ₹12 lakh, offering a clearer picture.The ministry report also noted that with declining pay packages at IITs, more students are pursuing higher studies instead of immediate placements.
