 "XLRI, MDI complete summer placements")
Not just the Indian Institutes of Management (IIMs), other business schools are also a positive response from recruiters with respect to summer internships. Both XLRI-Xavier School of Management and Management Development Institute (MDI) Gurgaon completed their summer placement process in three-and-half days.
MDI Gurgaon said that with the dramatic ascension of a stable and popular government to the centre, the prevailing market sentiment and future outlook is the most positive that they have had over the years. This was reflected in the hiring practices of established firms, testament to which is the just concluded Summer Placement Process at MDI Gurgaon for the Class of 2014 - 16 which was completed in a record time of 3.5 days.
At MDI Gurgaon cruised through its Summer Placement Process, which entails its students, summer internships which are a mandatory requirement for the fulfillment of the MBA curriculum. A total of 109 companies participated in the process, for 240 students of the flagship PGPM (Post Graduate Programme in Management) and 61 of the PGP-HRM (Post Graduate Programme in Human Resource Management). The average stipend for PGPM stood at Rs 1.16 lakh with the highest stipend pegged at Rs 4.2 lakh.
The average stipend for PGP-HRM stood at Rs 1.07 lakh with the highest figure at Rs 1.6 lakh. While the past recruiters maintained their trust in the quality of students, the campus saw new companies like Boston Consulting Group, Bill & Melinda Gates Foundation, Danone, Motorola, Novartis, Snapdeal amongst others.
XLRI-Xavier School of Management completed its placements of the entire batch of 2014-16 and the recruitment drive saw 105 companies participating in the process, making 385 offers to 365 students.
All students of the batch received paid internships, the highest stipend offered being Rs. 1.5 lakh per month. The median stipend for the entire batch (BM & HR) was at Rs 55,000 per month. The top recruiters on campus in terms of numbers were Altisource (12), Vodafone (10), HUL (9), ITC (9), Microsoft (9), ABG (8), Samsung R&D Institute (8) and Wipro (8).
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Fr. E Abraham, Director of XLRI said that as a socially aware and conscientious institution, XLRI prides itself in its association with social sector organizations and in a calibrated way has launched a parallel placement process called 'Parivartan'. "The aim of this initiative is to show our solidarity towards social causes where students can get summer internship opportunities to work with Non-Government Organizations and Not-for-Profit Organizations," he added.
There were multiple organizations who participated in this 'Parivartan' process. Amongst them included Pratham, Tata Trust, Azim Premji Foundation, Bandhan Microfinance, Ashoka Foundation, E-Vidyaloka, to name a few. Two students were placed with the Tata Trust. The process was held and completed before the conventional Summer Placement Week.
XLRI's flagship Business Management program witnessed the most diverse split of internship opportunities this year with the entire BM batch obtaining internship opportunities in 2.5 days.
This year saw steep rise in international offers in internships. Companies like M.H AlShaya, ABG, Altisource, HUL, Kellogg's, Nomura, Pepsi, Godrej and a European Hedge Fund among others opening up multiple international roles.
XLRI continued to strengthen its presence in the BFSI space with BFSI being the sector where most of the Business Management students chose to intern at. The institute said that Carlyle recruited exclusively from XLRI. The European Hedge Fund after having offered its only PPO to an XLer returned to campus for the summers. Avendus Capital opened its doors for XL for its front end PE Syndication and M&A Advisory roles.
World Bank was once again a highlight of the internship process and it offered its Structured Products role to XLRI. Citibank, HSBC, Standard Chartered, BNP Paribas, DBS opened up multiple roles including the Markets, Corporate Banking, Retail and HR to name a few. Altisource was the largest recruiter in the BFSI domain with many students getting the chance to work at their Luxembourg office.
Goldman Sachs, JP Morgan Chase, Nomura offered Investment Banking and Equity Research roles. The BFSI recruiter list also includes Private Equity Firms like Uniquest Infra Ventures and an Angel Fund. Indian Banks and Firms include the likes of Axis Bank, ICICI Bank among others.
The Sales & Marketing enthusiasts were flooded with offers with the FMCG sector leading the way. HUL and ITC offered 9 internship roles, closely followed by Kellogg's and Mondelez at 7 each. P&G's and Nestle's S&M role for the Business Management students returned after a long hiatus.
With respect to consulting, XLRI said that it registered more than a 50 per cent jump in the number of consulting offerings on campus. With an average of around 4 offers per organization, consulting firms like BCG, Capgemini, Cognizant, Deloitte, EY, KPMG and PwC visited the campus.
The Boston Consulting Group beat this sector average by offering 7 internship offers, 2 of them to the HR students for its consulting role. BCG opened its Consulting Profile for the HRM batch for the very first time in addition to the BM batch.
ABG lead the conglomerate pack with 8 internship offers. The regular Conglomerates offered an average of 5.5 offers and the addition of new conglomerates helped increased the number of offerings over the last year by 40 per cent.
Some of the new additions to the list include the Future Group, GE, Godrej, LnT and the Muthoot Group. XLRI said that the projects offered to the interns by the Future Group came directly from the CEO's office and were closely related to their retail expansion plans.
The Technology Sector showed a strong presence with participation from companies like Microsoft, Samsung R&D Institute (SRI), Wipro, IBM, HCL, Siemens, among others.
Vodafone continued to fuel its expansion plans in the country with talent from XLRI by taking double digit number of interns closely followed by Airtel, Ericsson and Reliance Communication in the Telecom space.
Amazon recruited for its Operations role. Flipkart, Taxi for Sure and People Group (having a portfolio with the likes of shaadi.com) made their presence felt from the e-Commerce sector.