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It's raining opportunities this year at the summer placements of management colleges. Global investment banks, consulting firms, etc., all are lining up to hire the best brains. Intern stipends too varied, depending on the location and jobs offered. For interns based in India, stipends for the two-month stint ranged from Rs 90,000 to Rs 4.5 lakh. International stipends ranged from $12,000 to $22,000. A look at the job mart.
The big guns like the Indian Institutes of Management (IIMs - Ahmedabad, Bangalore, Calcutta, Indore, Lucknow and Kozhikode), XLRI, Indian Institute of Foreign Trade (IIFT) and Symbiosis Institute of Business Management (SIBM) saw record jumps by up to 90 per cent. Students had multiple choices in their summer placement not only in terms of sector they wanted to experience but also the kind of projects they would like to do. For the first slot of students, IIM-Calcutta saw domestic stipends for the two-month stint ranging from Rs 90,000 to Rs 4.5 lakh, while international stipends shot up as high as $22,000. The average international stipend was $14,000 as compared to $12,000 last year. The ABM Summer Placements at Indian Institute of Management concluded on 1 November 2006 with more than one offer per student for a batch of 28. The event saw participation by several companies like RPG, Nestle and MCX, for the first time, which indicates the growing need for a specialised course in the current economic setting. Participation by two major commodity exchanges, viz., MCX and NCDEX reflect on the growing relevance of agri-business in the economy. Nine students were placed with these companies. RPG and Godrej Agrovet recruited students for their booming retail operations while ITC recruited students for their supply chain operations. Nestle offered positions in procurement, ICICI Bank recruited students for agri-finance and micro banking, Coromandal Fertilizers Limited and Monsanto selected students for agricultural inputs, and Venkys' for livestock and poultry sector. There was a substantial increase in the stipend amount offered this year to the students. The average stipend increased by 25 per cent to Rs. 15,000 per month this year while the highest stipend jumped from Rs. 15,000 per month last year to Rs 20,000 per month this time. IIM-Bangalore confirmed similar trends. MNCs are offering serious projects to interns and the global shortage of talent has catalysed the summer placement process. XLRI too saw a huge influx of finance companies like Lehman Brothers picking up the best of its brains. The highest international and domestic stipends rose from Rs 2.9 lakh to Rs 4.5 lakh and from Rs 80,000 to Rs 2 lakh respectively. SIBM, out of its batch of 167 students for the Slot 0, got 145 offers from the likes of Goldman Sachs and Unilever. This year, most of the top-line campuses witnessed recruiters like Morgan Stanley International and Credit Suisse at IIM-C and Yum Restaurants (which owns & runs Pizza Hut and KFC chain) at Delhi's Faculty of Management Studies. It's now time to watch how the grads fare in converting the internship opportunities into pre-placement offers (PPOs). The newer IIMs-IIM-Kozhikode and IIM-Indore-saw international summer packages for the first time this year. While IIM-Indore saw Slot 0 offers rising by 82 per cent with 133 offers, the former had 11 foreign offers from Cognizant, IBM, Standard Chartered Bank and Yahoo!. The average number of offers from each company was also quite high across campuses.
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It's
raining jobs in the summer season for the B-school grads. India's leading
management institutes ascended to new heights with summer placement
packages hitting all-time highs. This year, the stipends have risen by up
to 50 per cent for some institutes, coupled with a record number of
international offers.