Summer placements at Indian management institutes are gathering momentum. Kerala-based IIM-Kozhikode, for instance, has recorded the highest domestic stipend of Rs 100,000 (Rs 50,000 per month) for the two-month summer internship period, which begins in April 2009. The stipend has been offered by Coca Cola. Boston Analytics made a similar offer last year.
Students at the institute have also received around 14 international offers as compared to four last year. Vega Foods, a Singapore-based company has offered $6,000 (Rs 291,000) for the internship period.
The offers have been made across various functions and in locations like Singapore, Hong Kong, Germany, Dubai, South Africa and London. The institute has placed around 57 students in marketing companies for internship. Around 70 students opted for the banking and financial sector. Last year, Banking, Financial Services and Insurance companies had recruited around 50 students from the institute.
Investment banks like JPMorgan, Deutsche Bank, and Edelweiss Capital were bullish on students at IIM-K. Roles in private equity were offered from Tata Capital, and IDG Ventures.
Mumbai-based Jamnalal Bajaj Institute of Management Studies, on the other hand, has placed its batch of 120 students with over 80 companies participating in the summer placements 2008.
The institute has recorded highest domestic stipend of Rs 100,000, which is similar to last year. Firms that participated in the summer placements include major FMCG players like Hindustan Unilever Ltd, Procter and Gamble and PepsiCo, which recruited students for various functions like marketing, corporate finance and treasury.
International internship offers at the institute have increased to 13 from 11 last year. Emirates Bank, the largest bank in the UAE, made five international offers.
Among private equity firms, HDFC Property Ventures and investment banking firms like Saffron Capital Advisors have offered profiles for the SME and Midcap Corporate segment.
Financial majors which participated in the summer placements include companies like JPMorgan Chase, Deutsche Bank, American Express, Axis Bank, Citibank, ICICI Bank, Kotak Mahindra Bank, Standard Chartered Bank, SBI Securities and Tata Capital.
