Recruiters queue up at top B-schools to hire best interns
, ET Bureau|
Updated: Oct 11, 2017, 12.36 AM IST
MUMBAI/NEW DELHI: The challenging job market has failed to put a dampener on the country’s leading business schools with summer placements starting off on a strong note.
Institutes such as Management Development Institute, Gurgaon; XLRI Jamshedpur, SPJIMR and the Indian Institute of Foreign Trade have seen average stipends jump 20-24% as recruiters rushed to snap up the best interns off campuses. The top stipend this year so far for a two-month internship is Rs 5 lakh.
Amazon, Godrej, Wipro, Axis Bank and ITC are among the top recruiters across management schools so far. For employers like them, summer placements have steadily been gaining popularity as internships provide the perfect platform to size up potential employees and subsequently make pre-placement offers to them based on performance.
XLRI, where summer placements are still ongoing, has seen the highest stipend of Rs 5 lakh for a two-month internship by JPMorgan Chase & Co. Multiple offers have come in from other finance companies like Goldman Sachs, Avendus Capital as well as banks.
“This has been a good year from the perspective of summer internship recruitments. Finance and operations domains have done particularly well,” said placements chairperson Uday Damodaran.
At MDI Gurgaon, which just completed summer placements, over 90 companies made internship offers with an average stipend of around Rs 1.95 lakh, about 20% higher than last year. Seven international offers were made, compared with three last year. Godrej and ITC offered the highest stipend of Rs 3 lakh for a two-month internship, followed by P&G with Rs 2.8 lakh.
“Our summer internship programme has been a key source of business school talent for us. We believe it is a smarter strategy to hire someone you have observed closely over a twomonth internship, rather than make hiring decisions about people we have never met before, after 30-minute interviews,” said Sumit Mitra, head, group human resources, Godrej Industries and associate companies.
“Summer internships allow both the student and us to make more informed choices. Roughly 85% of our management trainee batch comes through the pre-placement offer route.”
Besides scaling up hiring from schools it already has an association with, Godrej is also exploring some new schools like IIM Trichy.
According to Kanwal Kapil, placements chairperson at MDI, there was a visible increase in leadership roles this year from such corporates as Aditya Birla Group, Airtel, RPG and Reliance Industries. “We witnessed more than 28 new recruiters participating,” he said.
Like MDI Gurgaon, most of the other B-schools invited a number of first-timers to ensure that placements went off smoothly, and to afford students a wider choice. IIFT Delhi had 14 new recruiters while SPJIMR saw 27 new companies coming to campus for what it calls its ‘autumn placements’ process. First-timers accounted for 34% of its campus offers.
SPJIMR saw average stipend go up to .`1.84 lakh, a 24% increase over 2016. “Most companies now look at summers as a route to the finals,” said Abbasali Gabula, deputy director, external relations and administration.
Amazon and its joint venture Cloudtail together accounted for more than 42 internship offers at SPJIMR, he added.
Institutes such as Management Development Institute, Gurgaon; XLRI Jamshedpur, SPJIMR and the Indian Institute of Foreign Trade have seen average stipends jump 20-24% as recruiters rushed to snap up the best interns off campuses. The top stipend this year so far for a two-month internship is Rs 5 lakh.
Amazon, Godrej, Wipro, Axis Bank and ITC are among the top recruiters across management schools so far. For employers like them, summer placements have steadily been gaining popularity as internships provide the perfect platform to size up potential employees and subsequently make pre-placement offers to them based on performance.
XLRI, where summer placements are still ongoing, has seen the highest stipend of Rs 5 lakh for a two-month internship by JPMorgan Chase & Co. Multiple offers have come in from other finance companies like Goldman Sachs, Avendus Capital as well as banks.
“This has been a good year from the perspective of summer internship recruitments. Finance and operations domains have done particularly well,” said placements chairperson Uday Damodaran.
At MDI Gurgaon, which just completed summer placements, over 90 companies made internship offers with an average stipend of around Rs 1.95 lakh, about 20% higher than last year. Seven international offers were made, compared with three last year. Godrej and ITC offered the highest stipend of Rs 3 lakh for a two-month internship, followed by P&G with Rs 2.8 lakh.
“Our summer internship programme has been a key source of business school talent for us. We believe it is a smarter strategy to hire someone you have observed closely over a twomonth internship, rather than make hiring decisions about people we have never met before, after 30-minute interviews,” said Sumit Mitra, head, group human resources, Godrej Industries and associate companies.
“Summer internships allow both the student and us to make more informed choices. Roughly 85% of our management trainee batch comes through the pre-placement offer route.”
Besides scaling up hiring from schools it already has an association with, Godrej is also exploring some new schools like IIM Trichy.
According to Kanwal Kapil, placements chairperson at MDI, there was a visible increase in leadership roles this year from such corporates as Aditya Birla Group, Airtel, RPG and Reliance Industries. “We witnessed more than 28 new recruiters participating,” he said.
Like MDI Gurgaon, most of the other B-schools invited a number of first-timers to ensure that placements went off smoothly, and to afford students a wider choice. IIFT Delhi had 14 new recruiters while SPJIMR saw 27 new companies coming to campus for what it calls its ‘autumn placements’ process. First-timers accounted for 34% of its campus offers.
SPJIMR saw average stipend go up to .`1.84 lakh, a 24% increase over 2016. “Most companies now look at summers as a route to the finals,” said Abbasali Gabula, deputy director, external relations and administration.
Amazon and its joint venture Cloudtail together accounted for more than 42 internship offers at SPJIMR, he added.
