MBA Admissions 2020-21

MBA Admissions 2020-21

MBA students land stipends up to Rs 3L for summer internship

PUBLISH DATE 10th November 2017


Recruiting companies have offered management students from a top B-school in the city stipends ranging from around Rs 1.5 lakh to Rs 3 lakh for a two-month internship during the next summer.

While the Rs 3 lakh stipend was offered to one student at Symbiosis Institute of Business Management here, the average stipend for the others hovered around Rs 1.46 lakh. This is a 17% jump over the stipends offered last year at the institute. Engineering graduates from ` A' grade colleges are also getting similar offers.

According to SIBM officials, the boost in stipend was by virtue of consistently high benchmarks set by its students and the alumni.

More than 60 companies from diverse sectors visited the campus for summer internship recruitment for various specializations including marketing, human resources, finance and operations. Business school candidates are being offered roles across various domains, including sales and marketing, general management, corporate finance, investment banking, strategy, operations and human resources. SIBM student Rewati Kachhwaha, who was of fered a summer internship by ITC, said the package is promising but her focus would be purely on the work culture, learning new things and taking back good experiences that will help her in her career.“The company has many verticals and the exposure I would be getting will definitely be helpful,“ she said.

SIBM director R Raman said there was an even distribution in the companies visiting the campus from various sectors like FMCG, healthcare & pharmaceuticals, consulting, BFSI, manufacturing, information technology and services, and supply chain and infrastructure, among others.

Prafulla Pawar, head of the department at the Pune University Department of Management Sciences, said they do not accept internships with stipends. “The offers are attractive, but with that comes the responsibility tag which we require our students to handle ably when they serve their internship at the companies where they get placed,“ he said.

Pawar said the department does not send students to companies that are into mass recruitment as those jobs mainly have a sales profile.“There are close to 100 companies who approach the department for final placements.These same companies offer internships to students. In fact, of the total students, 40% are absorbed by the companies that hire them for internships.It is a positive trend for us as the final placement is taken care of almost one year in advance.“

Pawar said the students have been offered internship stipends ranging from Rs 25,000 to Rs 1lakh this year. Placement officer Dolly Pandey from Smt Hiraben Nanavati Institute of Management and Research for Women said the highest stipends are offered to marketing students. At her college, 20% of the 180 students have already got internship offers. “Till now, 71companies have come and the process will go on until June. The highest package offered is Rs 15,000 and the average is Rs 8,000.“

Uttam Padwal, assistant registrar, MIT School of Business, said there is a 15% increase in the stipend offered to students this year. “We have 300 students and the average stipend offered is between Rs 25,000 and Rs 30,000,“ he said.

Uttam Chaskar, training and placement officer at College of Engineering, Pune, said while some students from the second year go for internships during their semester break, it is the third year students who opt for maximum internships.

“Computer scienceIT students are offered an average stipend of Rs 30,000 whereas the highest stipend offered is Rs 1.5 lakh. But for the other branches, the stipend is in the range of Rs 10,000 to Rs 40,000,“ Chaskar further added.



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