The usually high-paying information technology (IT) sector, which is witnessing massive layoffs, is also likely to be responsible for lower salaries, suggest experts. The average gross salary - which indicates the average size of a package - last year was Rs 11.41 lakh per annum, while the average cost to company (CTC) was Rs13.38 lakh. While the highest salaries are often in tens of lakh rupees (converted from dollars), a majority of students get much smaller packages.

In the period between 2011-16, the median salary offered by companies visiting IIT-B rose from Rs7.6 lakh to Rs9.8 lakh. In recent years, the premier institute had been witnessing a steady, if not a sizeable, swelling of packages.

In other words, half the IITians who got jobs in campus placements last year received salary packages less than Rs9.38 lakh an annum. The placement report put the annual gross median salary for 2016-17 at Rs9.38 lakh, down from Rs9.8 lakh in 2015-16. Static growth in the information technology (IT) and manufacturing sectors seems to be the primary reason why the annual salary package offered to the average student - which is usually on an upward trajectory - slumped this year. The annual placement report of the institute reveals the median salary offered by companies for campus recruitment fell by 4.3% during the last academic year. For the first time in six years, the median salary offered at the Indian Institute of Technology, Bombay (IIT-B) job placements has dipped.

Average salary in india 2015