Summer internship: Top-B schools see increase in offers, rise in stipend

Shobha Roy Garima Singh Kolkata/New Delhi | Updated on January 08, 2018

More opportunities: Nearly 20-30 per cent of the pre-placement offers bagged by students at the final placement come through their summer internship stints

Placement process wrapped up in record time, boosts sentiment

Bolstered by a rise in the number of offers and average stipend for summer placements, B-schools are expecting a better show for their management graduates for the final placements this season.

Summer placements provide internship opportunities to first-year management students.

According to industry experts, nearly 20-30 per cent of the pre-placement offers (PPOs) bagged by students at the final placement come through their summer internship stints.

So, a good show at summer internship not just helps boost sentiments, but also puts students in a better stead during final placements.

Quick wrap up

B-schools have not only managed to get offers from across the sectors, but have also been able to wrap up the internship process in record time.

Xavier School of Management (XLRI) completed summer internship placement process for its 2017-19 batch comprising 364 students in just two days. It took three days for the institute to complete the process last year.

IIM Kozhikode (IIMK) wrapped up the process in four days.

According to Uday Damodaran, Chairperson, placements, XLRI, the institute not only received a wide range of offers from various sectors but also saw companies coming in with more roles to offer. “Usually we get offers from general management, operations and marketing companies. This year, we received offers from across the board. In fact, we had to regret participation to some companies.” Damodaran told BusinessLine.

Offers received

Nearly 90-odd companies participated in the summer internship process at XLRI. The institute witnessed a 20 per cent rise in the median and average stipend this year compared with the previous year. The highest stipend offered was ₹5 lakh for two months.

Indian Institute of Management (IIM)-Kozhikode received close to 359 offers from around 100 recruiters. The placement season not only saw an upward swing in the average monthly stipend but also had niche roles being offered to the students.

“The average stipend has risen by 25 per cent from last year. We were able to wrap up the process in record time, we are hopeful of doing well in the final placements as well,” Priya Nair Rajeev, Chairperson, Placements at IIM, Kozhikode, said. The stipend data was not available with the IIM, Lucknow. However, the institute said it saw a 50 per cent increase in the finance profiles offered on campus this year.

Interestingly, pharmaceuticals/healthcare companies such as Allergan and Sanofi, came for recruitment to the campus for the first time. Accenture Strategy, Aditya Birla Group, Amazon, AT Kearney, Cipla, Deutsche Bank, EY, Hindustan Unilever Ltd were some of the other major recruiters for internships.

Faculty of Management Studies, New Delhi saw 100 per cent placement this season, with highest stipend going up to ₹1.50 lakh per month.

IIM Calcutta is yet to commence the summer placement process for its general management programme.

However, students of PGDBA (Post Graduate Diploma in Business Analytics) programme saw a significant increase in the internship stipends offered. The average monthly stipend increased to ₹97,804 this year as compared to ₹77,300 last year, Sumit Kalaskar, PGDBA Placement Representative said.

The PGDBA programme is jointly designed by IIM Calcutta, IIT Kharagpur and Indian Statistical Institute.

Published on October 27, 2017

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