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Besides, the average of stipend offered has risen 15-20 per cent from last year. The highest stipend offered at Management Development Institute (MDI), Gurgaon, has been a record Rs 4.2 lakh for two months. The average stipend for post-graduate programme in management (PGPM) was Rs 1.16 lakh at MDI and between Rs 1 lakh and Rs 1.2 lakh at other institutes.
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These offers to management students are for summer internships in May and June next year; the stipend paid will be for their stint at the companies in these two months.
The Indian Institute of Management (IIM) Lucknow this year achieved 100 per cent summer placement for its batch of 464 students in four-an-a-half days, a day less than those taken last year.
The recruitment drive saw participation of 164 domestic and international recruiters. “The highlight of this placement season was the presence of firms like JPMorgan, international mutual fund company Alvarez & Marsal, and four Indian private equity players,” IIM-L said in a statement. The institute did not disclose details of stipend offered.
MDI placed its batch of 240 in less than four days. “This is the first time since doubling of the batch size for PGPM to 240 that all PGPM and 61 students in the post-graduate programme in human resource management (PGPHRM) got placed in less than four days,” said Kanwal Kapil, chairperson of the placement cell at MDI.
The average stipend for the PGPHRM recruits stood at Rs 1.07 lakh, against Rs 95,900 last year. The highest figure was at Rs 1.6 lakh. A total of 109 companies participated in the hiring process at MDI. Among the companies that came for here hiring for the first time were Boston Consulting Group, Bill & Melinda Gates Foundation, Danone, Motorola, Novartis and Snapdeal.
At the XLRI-Xavier School of Management, 105 companies together made 385 offers to 365 students. All students of the batch received paid internships in less than three days. The highest stipend offered was Rs 1.5 lakh a month. And the median stipend for the entire batch was Rs 55,000 a month.
“This year, all of the 365 students in our largest-ever batch got summer placements. Last year, when a high point was the steep rise in finance internships, our batch size was 303.The year before, when FMCG majors were the top draw at XLRI, our batch strength was 240.” said Rajiv Mishra, chairperson of the placement cell at XLRI.
Top recruiters on the campus in terms of the number of offers made were Altisource (12), Vodafone (10), HUL (9), ITC (9), Microsoft (9), ABG (8), Samsung R&D Institute (8) and Wipro (8).
“There has been a steep rise in international internship offers this year. Companies like M.H AlShaya, ABG, Altisource, HUL, Kellogg's, Nomura, Pepsi, Godrej and a European Hedge Fund have hired for multiple international roles,” XLRI said.
XLRI also saw participation from the likes of Pratham, Tata Trust, Azim Premji Foundation, Bandhan Microfinance, Ashoka Foundation and E-Vidyaloka for ‘Parivartan’, the institute’s parallel placement process for the social sector, completed before the conventional summer placement week.
World Bank, Citibank, HSBC, Standard Chartered, BNP Paribas, DBS hired at the institute for multiple roles, including the markets, corporate banking, retail and HR verticals. Consulting firms BCG, Capgemini, Cognizant, Deloitte, EY, KPMG and PwC made an average four offers each.
Mumbai-based NMIMS said the trend was favourable this year and a higher number of companies would be participating in its summer placement process. The institute plans to host over 150 companies this time.
