Fatter pay packages and better offers marked the summer placements season for first-year students at Jamnalal Bajaj Institute of Management Studies (JBIMS), despite the economic slowdown.
The institute released its summer placement report on Monday for students who will graduate in 2013 and will be taking up summer internships in May-June 2012. The highest domestic stipend on offer this year jumped to Rs2 lakh from Rs 1.5 lakh last year for the two-month internship. The average domestic stipend on offer also rose by Rs 17,000, from Rs72,000 last year to Rs89,000 this year. Two years ago the average stipend was Rs 53,000.
“We had our apprehensions because of the state of the economy, but we bucked the trend and the results are there for everyone to see,” said Ankit Rampuria, a placement committee member at JBIMS. “We had a very diverse mix of students this year and our alumni base also helped in the summer placement process.”
The entire batch of 120 students was placed, with 79 companies recruiting from the campus this time. The highest chunk of placements – 33% – were in the banking, financial insurance services and investment banking segment, followed by Fast Moving Consumer Goods (FMCG) and Pharma accounting for 28% of the total placements. Consultancy jumped from accounting for 9% of last year’s placements to 17% of this year’s.
“We had a lot of interesting profiles on offer from some of the best companies in the industry,” said Vineesh Padmanabhan, a student placed with a leading FMCG firm. “For me, it was a dream come true to have gained an opportunity to work with one of the most admired organisations and in a profile that I always aspired to. I look forward to making the most of it.”
Among the new companies that recruited this year were Accenture, Amul and Standard Chartered Bank.
“The large number of companies that have participated in the placement process and the diverse nature of job profiles they have offered have been the high points of this year’s summer placement season,” said Dr C.R. Chavan, placement coordinator, JBIMS.