Highest internship stipend rises by Rs1 lakh in Mumbai’s management college

A total of 63 companies participated in the recruitment drive for the two-month internship

The highest stipend offered for the summer placements at Jamnalal Bajaj Institute of Management Studies (JBIMS) has risen from last year's Rs3.5 lakh to Rs4.5 lakh.

The top 10% of the batch took home a whopping stipend of Rs2.9 lakh (HT FILE)

A total of 63 companies participated in the recruitment drive for the two-month internship.

The placement season also saw the average stipend rise from Rs1.52 lakh to Rs 1.61 lakh — a 6% increase compared to last year. The top 10% of the batch took home a whopping stipend of Rs2.9 lakh whereas the top 30% was offered Rs2.4 lakh on an average.

Consulting and Banking, Finance, Securities and Insurance (BFSI) continued to be the dominant sectors with about 42% of the batch bagging lucrative roles in verticals such as management consulting, investment banking, corporate banking, equity research, securities, transaction and retail banking.

Akash Rakani, a placement committee member, said that apart from legacy recruiters, many companies visited the campus for the first time .

Chandrahauns Chavan, director of JBIMS, said, “It is a source of immense pride for us to see the current batch rise to the challenges set for them and uphold the commitment to excellence that JBIMS has come to represent over its rich history,”

This year, JBIMS observed the inaugural day of summer placements as ‘Pharma Day’ to host pharmaceutical companies. The companies that visited the campus are Barclays, Citibank, CRISIL, DBS Bank, Goldman Sachs, JP Morgan and McKinsey & Co. Fast-moving consumer goods (FMCG) and pharmaceutical companies such as Abbott, Amway, Cipla, NIVEA and P&G were present.

The manufacturing sectors saw participation from Bajaj Electricals, Hero MotoCorp, JSW, L&T, Mattel India, Piramal Enterprises, Raymond, RIL, TATA Motors, TATA Steel and Titan. The technology sector was represented by Capgemini, and Wipro.