Most of the top B-schools in the country have successfully completed their summer placements for the season. This year has seen a good rise in the stipend offered at the leading campuses. While the summer placements for most B-schools may extend to Jan – Feb 2020, the leading campuses usually close the process some time between September and December for next years summers.
Summer internships are a great opportunity for businesses to get a hold on good talent, engage with the campuses and also build on their funnel for final placements. Leading brands in sectors such as consulting, e-commerce, automobile, banking, finance and telecom rely on internships to assess potential candidates for their final placements. Companies also offer a pre-placement offer (PPO) to those students who do great during their internships. E-commerce companies and tech start-ups have been the most active overall for last 1-2 years at campuses for the summers as well as final placements. Historically, this area has been dominated by FMCG, Consulting and Finance companies.
Summer internships at some of the top B-schools ( Non IIMs). The stipend figures are for a two month period in most cases, unless otherwise mentioned.
Indian Institute of Foreign Trade, Delhi
At Indian Institute of Foreign Trade (IIFT), the highest stipend offered was Rs 3.2 lakh. The average stipend offered at the campus has been around Rs. 1.68 lakh for two months. This is an increase of about 13.5% over last year. As per a statement released by the institute, the average stipend for the top 50% of the batch was Rs 2.42 lakh for the two month internship. At IIFT, the number of companies offering average stipend of over Rs 2 lakh has increased by 46%.
Major recruiters at IIFT include: Aditya Birla Group, Airtel, Axis Bank, Mahindra, Reliance Industries, RPG, etc. In IT, startups as well as industry leaders like Brillio, Droom, Fourbrick Technology, Genpact, Google, Hexaware, Lazerken, Microsoft, Wipro and Capgemini made offers for internships. In pharmaceutical and healthcare sector, companies like Amway, Cipla, Eli Lilly, GSK Consumer Healthcare, Medtronic, OmniActives, Philips Healthcare and Sanofi offered internships in multiple domains.
Faculty of Management Studies, Delhi
This year, Faculty of Management Studies (FMS), Delhi, saw the highest ever average stipend of Rs 2.3 lakh for the duration of two months. The average stipend saw an increase of 13.5% from the last year. The average stipend for the top 100 of the batch increased to Rs 2.71 lakh for two months from Rs 2.45 lakh for two months last year. Also, this year the average rise in stipend of women increased by 11.2% to 2.33 lakh from 2.1 lakh in the previous year. Around 80% of the batch or 170 candidates received a stipend of Rs 2 lakh and above.
Internship offers from E-commerce companies increased by 85% as compared to the previous year. Amongst the E-commerce majors, Amazon, Flipkart, Google, Swiggy, Ola and Uber hired summer interns from the campus.
Tata Institute of Social Sciences, Mumbai
Talking about TISS-Mumbai, this year the highest offer stood at Rs 1.6 lakh per month.The offer was made by Colgate Palmolive. The placements concluded in the month of September, ending on a good note as the entire batch landed internships with leading brands. TAS took the lead in becoming the biggest recruiter offering four internships, followed by ABG, HUL, Accenture, OYO and Reliance. FMCG and Consulting companies offered great many internships this year. The total number of firms making offers were 41 out of which 9 were first-timers. The average monthly stipend stood at Rs 1 lakh.
Other major recruiters included Asian Paints, Citibank, Aditya Birla Group, Mahindra and Mahindra, ITC, Marico, Nestle, General Mills, Korn Ferry, Mars, Mondelez, Nivea, P&G, Samsung India, and Shell.
Management Development Institute(MDI), Gurgaon
At Management Development Institute, out of 298 placements, the highest stipend offered was Rs 3.2 lakh for the 2 month internship. The summer placement process saw participation by around 85 leading brands. Average stipend at the campus stood at Rs 2.3 lakh, with the median being Rs 2.2 lakh. Regular recruiters of MDI such as Asian Paints, Coca-Cola, Dabur, GCPL, ITC Limited, L’Oréal, Marico and Nivea were at the campus and made offers. BMW and Samsung were the new entrants in offering internships at MDI. From the pharma sector – AstraZeneca, Cipla and Novartis participated. Bennett Coleman and Co. Ltd. and Pidilite were some of the other major recruiters.
XLRI, Jamshedpur
At XLRI, Xavier School of Management, the average stipend increased by 12.15% this year touching Rs. 1.2 lakh per month from Rs. 1.07 lakh per month in 2018. The median stipend stood at Rs. 1.2 lakh per month. The highest stipend was offered in the BFSI sector that stood at Rs 2.5 lakh per month. All the 361 students were placed among 86 participating recruiters, including 11 first-time recruiters like Bain & Co, Amazon, NIIF, PhonePe, Udaan, Shell, Diageo, Ola, Adani, Rupeek, Kornferry and others.
E-commerce generated the highest internship offers that were led by Amazon, who made the highest number of offers amongst the regular recruiters such as The Boston Consulting Group, Microsoft, P&G, Aditya Birla Group, ITC, Nestle, Hindustan Unilever, Mondelez, Mahindra & Mahindra, Citibank and others.
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