The hiring in B-schools has improved as companies are recovering from the pandemic. Companies have revived their business outlook as demand as picked up. This has had a positive impact on the summer internship hiring in leading B-schools, and some of the premier B-schools have seen the highest stipends this year.
IIM Bangalore has witnessed record summer placements for the PGP and the PGP-BA class of 2021-23 which saw 542 offers with 513 students being placed over two days.
Stipends have increased from 15-70% for IIMs; Xavier School of Management, Jamshedpur; Faculty of Management Studies, Delhi and others. The highest internship stipends are between ₹5 lakh and ₹6.8 lakh at the top end for a two-month internship.
The top stipend offered at IIM Lucknow was ₹6.8 lakh for two months, surpassing last year's highest stipend of ₹5 lakh. IIM Indore offered a highest stipend of ₹4 lakh, 25% more than last year's highest stipend of ₹3.2 lakh. At IIM Kozhikode, the highest stipend offered was ₹3.74 lakh.
The top stipend at Xavier School of Management (XLRI) was also ₹6.8 lakh for two months. FMS Delhi had a whopping 67% increase in the highest stipend offered this year, ₹5 lakh compared to ₹3 lakh the previous year. The highest stipend at MDI Gurgaon was ₹4 lakh.
IIM Lucknow, XLRI and FMS recorded their highest stipend this year as compared to all their previous years of establishment. Companies from Consulting, BFSI (banking, financial services and insurance), e-commerce, FMCG/FMCD (Fast Moving Consumer Goods/Durables) and IT sectors have hired the maximum number of students.
The average stipend across the top b-schools increased as well. The average stipend was ₹2 lakh or more across various campuses. This year, students at FMS Delhi received an average stipend of ₹2.62 lakh; students at IIM Lucknow got an average of ₹2.6 lakh; XLRI, ₹2.56 lakh; MDI, Gurgoan, ₹2.4 Lakh; IIM Kozhikode and Indore, ₹2 Lakh. IIM Calcutta concluded its summer internship with 100% placement and students receiving average and median stipends starting at ₹2.8 Lakh for two months with top the 25% of students receiving stipend higher than ₹4 lakh for two months.
Companies from Consulting, BFSI (banking, financial services and insurance), e-commerce, FMCG/FMCD (Fast Moving Consumer Goods/Durables) and IT sectors have hired the maximum number of students. In IIM Calcutta, 50% of the total hires were from the Finance and Consulting firms. At IIM Bangalore, Consulting companies made 181 offers, 41 offers were made by IT and IT product management sector, 42 offers were made by E-commerce and Operations and 84 offers were made in the Finance domain.
The News Minute