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In what is seen as an attempt to identify and groom the best talent, corporates are offering management students attractive stipends for internships.
Most B-schools have seen an increase in the average stipend for summer internship placements for the 2018-2020 batch .
How they fared
The average stipend at Delhi’s Faculty of Management Studies this time was ₹1,01,400, which is 17 per cent more than last year’s. The highest stipend offered was ₹4 lakh for two months.
FORE School of Management from the NCR got the highest internship offer of ₹1.4 lakh for a two-month stint with ₹40,000 being the average. Institute of Management Technology (IMT), Ghaziabad, received highest stipend offer of ₹2.5 lakh for two months. Summer internship placements provide a platform for both industry and students. It gives the corporate an opportunity to assess the candidate better than at an interview.
“One of the reasons for the increase in the stipend is that corporates want to assess more students. With this, they try to keep more options open,” said Shovan Chowdhary, Associate Professor, IIM-Kozhikode.
Most colleges also complete the summer placements in short duration. IIM-K completed the placement in three and half days. On the other hand, Delhi’s Faculty of Management Studies achieved 100 per cent placements in just a day and half. XLRI completed the placement in two days.
According to experts, companies have come up with a diverse portfolio, offering different roles. Also, they are trying to bring more women on board.
“Corporates are consciously looking for female candidates to improve the gender diversity,” said Rajnessh Chauhan, Chairman (Placements), FORE Institute of Management.
Sector-Wise
Most number of internships were offered in sales and marketing sector. In IIM-Lucknow, sales and marketing accounted for 28 per cent internships, followed by consulting at 22 per cent, and e-commerce at 19 per cent. Finance and general management were at 17 and 11 per cent, respectively. Similarly, around 40 per cent of IIM-Kozhikode’s batch was placed in the sales and marketing.
IIM-Ahmedabad will start its summer placements on October 29.
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