IIT median salary more than doubles to ₹19.08 lakh in 8 years, EAC-PM study finds
By TUF News Desk · Published 5 November 2026 · 4 min read
Fact-checked against 2+ independent sources · Editorial policy
The median salary of a placed graduate from an Indian Institute of Technology has more than doubled in eight years, from ₹8.80 lakh a year in 2015-16 to ₹19.08 lakh in 2023-24. The figures come from a new working paper by the Economic Advisory Council to the Prime Minister (EAC-PM).
The paper, “How India is Transforming Educational Capacity under the New Education Policy 2020”, was written by EAC-PM member Soumya Kanti Ghosh and economist Shashidharan Sharma. It tracks placement outcomes and salary trends across fixed panels of 17 IITs, 14 IIMs and 22 NITs.
What the numbers show
The rise runs across all three groups. At the IIMs, the median salary of placed graduates went from ₹14.25 lakh to ₹25.59 lakh over the same period, and at the NITs it more than doubled, from ₹5.23 lakh to ₹10.65 lakh.
Placements grew too: across the 17 IITs, the number placed rose from 4,737 in 2015-16 to 8,411 in 2023-24, while the IIMs placed 5,965 students in 2023-24, up from 3,776, and the NITs placed 13,419, up from 9,246.
The comparisons cover four-year undergraduate programmes at the IITs and NITs and two-year postgraduate programmes at the IIMs, and the figures are nominal, not adjusted for inflation. The share of women also increased across all three groups between 2019 and 2025.
More seats, more students
Salaries grew alongside a sharp expansion in enrolment: between 2019 and 2025, core-programme enrolment at the IITs in the study rose 57.8 percent, from 32,063 to 50,595 students, NIT enrolment rose 29.7 percent, from 57,405 to 74,457, and IIM enrolment rose 38.9 percent, from 8,966 to 12,456.
The authors warn that this expansion has tested whether placement markets can absorb graduates at the earlier rate, even as salaries and placements improved over the longer period.
The wider picture is less even
Across the whole system, estimated enrolment rose 31.5 percent, from 34.2 million in 2014-15 to 45 million in 2023-24, while registered colleges went from 38,498 to 48,246 and universities from 529 to 1,289.
The gains have not been shared evenly. Citing the India Employment Report 2024, the authors note that 52.8 percent of employed young graduates were in low-skill occupations in 2022, and only 5 percent of people aged 15 to 29 had formal vocational or technical training in 2025, according to the Periodic Labour Force Survey.
The paper calls this “qualification congestion”: degrees have become the most widely recognised route to better work, while employers sort graduates by institution, field, exam performance, experience and networks. India needs stronger alternatives, the authors argue, including recognised vocational qualifications, structured apprenticeships and ways to move between work and further study.
What it means for aspirants
The ₹19.08 lakh figure is a median among placed graduates at 17 IITs, not a promise for every student. These are selective institutions, the authors stress, and outcomes within the IITs still vary by branch, institute and individual performance.
For students weighing their options, the study supports a familiar order: course and department first, then faculty strength, fees, location and placement record. Our guide on how to choose a university in India walks through that order, and our rankings guide explains what the major lists measure. The Indian Institute of Technology Bombay, IIT Delhi and IIT Madras profiles carry the latest placement and ranking details for the three best-known IITs. The full paper is published by the EAC-PM and available through the EAC-PM website.
Frequently asked questions
What is the median salary of an IIT graduate now?
Across the 17 IITs in the study, it was ₹19.08 lakh a year in 2023-24, up from ₹8.80 lakh in 2015-16.
How did IIM and NIT salaries change over the same period?
The median salary at the 14 IIMs in the study rose from ₹14.25 lakh to ₹25.59 lakh, and at the 22 NITs it more than doubled from ₹5.23 lakh to ₹10.65 lakh.
Does the study say every IIT graduate earns ₹19.08 lakh?
No. It is the median among placed graduates at 17 IITs, and the authors caution that the findings cover selective institutions, not the whole system.
Who wrote the EAC-PM working paper?
It was written by EAC-PM member Soumya Kanti Ghosh and economist Shashidharan Sharma.
Frequently asked questions
What is the median salary of an IIT graduate now?
Across the 17 IITs in the study, it was ₹19.08 lakh a year in 2023-24, up from ₹8.80 lakh in 2015-16.
How did IIM and NIT salaries change over the same period?
At the 14 IIMs it rose from ₹14.25 lakh to ₹25.59 lakh, and at the 22 NITs it more than doubled, from ₹5.23 lakh to ₹10.65 lakh.
Does the study say every IIT graduate earns ₹19.08 lakh?
No. It is the median among placed graduates at 17 IITs, and the authors caution that the findings cover selective institutions, not the whole system.
Who wrote the EAC-PM working paper?
It was written by EAC-PM member Soumya Kanti Ghosh and economist Shashidharan Sharma.
Sources: Business Standard, Edex Live, Moneycontrol