CHENNAI: The Indian Institute of Technology Madras (IIT-M) on Wednesday informed that it has successfully completed its phase I of placement (December 2023), despite the challenges posed by Cyclone Michaung.

“The first day of placements witnessed a record number of offers. By the end of the first phase of placements, there was a substantial increase in hiring from the core sector, along with a significant rise in international offers for postgraduate students compared to last year.

The median salary of all the offers made by companies was over Rs 19 lakh,” read a release from IIT-Madras. More than 55% of the placed students were from socially and economically challenging backgrounds.