On an average, there has been a 15 percent rise in number of companies visiting the campus and a 20 percent increase in the stipends.
The summer placement process across business schools are showing green shoots with an increase in the number of companies visiting the campus and the average pay package for the internship process.
On an average, there has been a 15 percent rise in the number of companies visiting the campus and a 20 percent increase in the stipends.
There were fears of companies rolling back on their commitment to hire interns due to the current lukewarm economic conditions in India.
Summer placements refer to the internship process that students of management schools participate in April-May of the next year. If a student performs well in the internship, there are also chances of them getting a full-time job at the same company after their course is complete.
The Indian Institutes of Management (IIMs), as well as the other business schools, have seen a good record as far as the summer placements are concerned.
At the first cluster of the summer placement process at IIM Ahmedabad, a large pool of recruiters with about 70 firms participates in the process. The Boston Consulting Group was the top recruiter with 23 offers. Other prominent recruiters in the consulting domain included regular partners such as A. T. Kearney, Accenture Strategy, Alvarez & Marsal, Bain & Company, Deloitte USI, GEP Consulting, KPMG, McKinsey & Company, Roland Berger and Strategy&.
Prominent recruiters in the investment banking and markets space included Arpwood Capital, Avendus Capital, Bank of America Merrill Lynch (India and Hong-Kong), Citibank, Credit Suisse (Singapore and India), Goldman Sachs, JP Morgan, HSBC, Moelis, Morgan Stanley and Nomura Singapore.
HSBC was the biggest recruiter in investment banking and markets cohort with eight offers.
In the second cluster of the summer placements, IIM-A saw about 50 firms participating in the process. HUL was the top recruiter with 14 offers. The top recruiter in the advertising and media cohort was GroupM with four offers. Samsung Electronics made the highest number of offers in the consumer electronics cohort with seven offers.
Consumer goods included regular recruiters like AB InBev, Coca-Cola, General Mills, HUL, ITC, Kimberly Clark, Mondelez, Nestle, P&G, Reckitt Benckiser, Saint Gobain and Wipro Consumer Care amongst others.
New recruiters included Colgate Palmolive and Dabur. After HUL, the recruiter with the highest offers in the consumer goods space was Mondelez with six offers.
The general management and leadership cohort saw great participation from recruiters like Aditya Birla Group, C K Birla Group, Mahindra Group, Reliance India, RPG Group and TAS. In the Retail B2B & B2C space, IIM-A had firms like Amazon, Cloudtail, Flipkart and Udaan. Amazon was the top recruiter here with nine offers.
The third cluster will be conducted on November 7.
"Overall, the IIMs have received a good number of offers. The stipends have also seen a 20 percent rise," said an official from a new IIM.
The stipends for the two-month internship range is between Rs 1 lakh to as high as Rs 6 lakh across the business schools.
At XLRI- Xavier School of Management, the summer internship placement process (SIP) was completed within two days for the batch consisting 361 students.
In 2019, the summer internship process at XLRI saw participation from 86 recruiters, including 11 first-time recruiters. The average stipend saw an increase to Rs. 1.2 lakh per month from Rs. 1.07 lakh per month in 2018. The median stipend offered too was Rs. 1.2 lakhs per month. The highest stipend stood at Rs. 2.5 lakh per month offered in the BFSI sector.
Firms who participated for the first time included firms such as Bain & Co., Amazon, NIIF, PhonePe, Udaan, Shell, Diageo, Ola, Adani, Rupeek and others.
Amazon made the highest number of offers among the regular recruiters such as The Boston Consulting Group, Microsoft, P&G, Aditya Birla Group, ITC, Nestle, Hindustan Unilever, Mondelez, Mahindra & Mahindra, Citibank and others.
“This has been a good year for summer recruitments. The placements achieved this year is a testament to our diverse talent pool and the XLRI brand and has raised the bar for placements in B-schools in the country,” said P Christie, Director, XLRI- Xavier School of Management.Several other business schools are in the process of completing their summer placement process. Once this process is completed, the rush for the final placements will begin.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.