MBA student bags Rs 2.5 lakh monthly stipend at XLRI's summer internship placement: Report

XLRI- Xavier School of Management, Jamshedpur, has announced that an MBA student of the institute has bagged an internship offer with a monthly stipend of Rs 2.5 lakh, Mint reported.

The stipend was offered by a recruiter in the banking, financial services and insurance (BFSI) sector, the report added. The batch of 361 students saw a 100 percent placement with an uptick in the average stipend offered by recruiters. While the average stipend offered in 2018 stood at Rs 1.07 lakh per month, in 2019, the average stipend went up to Rs 1.2 lakh per month.

All in all, 86 companies were a part of the placement process, with 11 new recruiters looking to hire interns. The highest number of offers came from Amazon, while Bain & Co., Adani Group and PhonePe featured on the list of first-time recruiters.

The management institute's director, Fr. P Christie, told the paper that the year has been a good one as far as summer internship recruitment is concerned. XLRI recently wrapped up the summer internship placement process for the 2019-2021 batch within merely two days.

The report additionally said that there was an increasing number of offers from the e-commerce sector players led by Amazon.