Summer internship: FMS sees 52% hike in stipends
Students at the Faculty of Management Studies (FMS) have proved their worth yet again. Mallica Joshi reports. Recruitment figuresdelhi Updated: Nov 08, 2011 02:07 IST
Students at the Faculty of Management Studies (FMS) have proved their worth yet again.
The college has seen a phenomenal increase of 52% in the average summer internships package - from around Rs 65,000 last year to Rs 1,29,000 this year for two months.
The highest package offered, however, has remained the same as the previous year at Rs 2,50,000 for two months.
Avendus Capital, a leading investment bank, has made the highest offers this year as well.
Offers were made across 15 sectors with the maximum number of students - 41% - opting for marketing functions.
Finance, a sector that sees the highest number of job placements at FMS, came a close second at 33%. But students have not opted for multinationals and investment firms alone. The department of financial services (ministry of finance) also recruited interns for projects related to financial regulatory environment in India. Union Bank of India, ONGC and GAIL also recruited from FMS.
"This year we saw several new recruiters participated. L'Oreal, Nivea, Flipkart, Castrol and Royal Dutch Shell, all new recruiters, made offers for marketing and business development roles," said Amon Endait, media coordinator, FMS.
There are a total of 226 students in the 2013 batch of MBA at FMS, out of whom three did not sit for the placements.
A total of 163 companies confirmed their presence, of which 89 also made offers.
Many companies were unable to make offers as many students were placed much before all companies could recruit them. Students placed in one firm are not allowed to apply to another.
Summer placements indicate the kind of packages students can expect after they graduate. Many firms offering internships recruit students after they complete their masters.