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The average annual starting salary of a fresh engineering graduate in India last year was ₹4.57 lakh. This is according to the National Institutional Ranking Framework (NIRF) report released by the Ministry of Education.
This is 15 per cent higher than how much a fresh engineering graduate earned in India in the academic year 2020-21. businessline’s analysis of NIRF data also shows that in the last five years, the salaries of fresh-out-of-college engineers have increased by 43 per cent. In the academic year 2017-18, a fresh engineering graduate made around ₹3.19 lakh. This is around ₹26,583 per month.
IITs, IIITs shine
A closer look at the data submitted by the top 100 engineering colleges to the Ministry of Education paints a different picture altogether. On average, a fresh engineering graduate from one of these colleges made an annual salary of ₹11.06 lakh in 2022. This is a 60 per cent increase from how things were five years back.
Now things are even different when one looks at people who graduated from an Indian Institute of Technology (IIT) or an Indian Institute of Information Technology (IIIT).
Among the IITs, IIT Guwahati topped with a starting engineer salary of₹22.5 lakh per year. A fresh engineering graduate of IIT Madras, the top engineering college in the country, earned an annual salary of ₹17 lakh. It was ₹20.5 lakh in IIT Delhi and ₹18.8 lakh in IIT Bombay.
On the other hand, many top-rated colleges could have offered a better placement package to their fresh engineering graduates. In thirteen of those colleges, the starting median salary of an engineering graduate is between ₹3.6 lakh to ₹5 lakh per annum.
A total of 18 engineering colleges from Tamil Nadu made it to the NIRF top 100 engineering colleges list in 2023. However, the salaries of the graduates from many of these colleges were comparatively low. The analysis also shows that of the ten colleges where fresh graduates earned the lowest salaries, six are from Tamil Nadu. All of these are privately owned.
With inputs from Anahita Bharat, who interned with businessline
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