The average stipend at summer internship placements at Jamnalal Bajaj Institute of Management Studies (JBIMS), Churchgate, a premier B-school in the city, has increased by 11%, over the last year.
The average stipend offered by the companies for a two-month internship to Master of Management Studies (MMS) students was Rs1.52 lakh.
The summer internships, which offer students a chance to work in a company during summer vacation after the first year of MBA or MMS, often translate into pre-placement offers (PPOs).
This year, all the first-year MMS students at JBIMS were placed in 64 companies in a span of four days.
The highest stipend offered at the institute was Rs3.5 lakh. Hrishikesh Gilda, a member of the institute’s placement committee said, “The continued support of our legacy recruiters coupled with a large number of first-time recruiters has been a major contributor to the 100% placements of the batch of 2018. The exuberant and diversified talent pool maintained the legacy of wrapping up the placements in record time despite an increased batch size this year.”
The summer placements at other top management colleges including Welingkar Institute of Management Development and Research, where Rs50,000 (per month) was the highest average stipend offered so far, are still going on.