IIT-Bombay students bag Rs 2.8 lakh stipend for summer internships

The participating students bagged offers for summer placements from 40 companies. The existing batch of students attracted many new recruiters and bagged new profiles from existing recruiters.

The average stipend of summer placement at Shailesh J Mehta School of Management at Indian Institute of Technology Bombay (IIT-B) rose to Rs 1.19 lakh, witnessing an increase of 27% over the previous year.

Owing to the institute’s close association with the fast moving consumer goods (FMCG) sector, 29% of the batch has secured offers from that segment.(HT file photo)

The top stipend bagged by the students this year was Rs 2.80 lakh which was 40% higher than that of last year.

These internships will be carried out for 8-10 weeks.

The participating students bagged offers for summer placements from 40 companies. The existing batch of students attracted many new recruiters and bagged new profiles from existing recruiters.

Owing to the institute’s close association with the fast moving consumer goods (FMCG) sector, 29% of the batch has secured offers from that segment. Around 22% of the students secured from the consulting/IT sector. While the rest of the students bagged placements in manufacturing and banking, finance, securities, insurance (BFSI), healthcare and other sectors.

FMCG giants such as Asian Paints, BCCL, Colgate-Palmolive, Johnson & Johnson, Kimberly-Clark, Marico, Mondelez, Nestle, P&G and others offered profiles in supply chain management, operations and IT domains. While consulting/IT bigwigs like Accenture, Capgemini, GEP, Tata motors, and Wipro had roles in procurement consulting and technology consulting up for grabs. Manufacturing giants including BASF, Cummins, Tata motors and Whirlpool offered profiles in operations and marketing.

The BFSI sector, meanwhile, witnessed giants like Fidelity Investments, Goldman Sachs, ICICI, Indus Valley Partners, Ocwen Financial Services and Yes Bank offering roles in investment management, relationship banking, risk management, corporate treasury and business analysis and research.

Companies like Boehringer Ingleheim, Cochlear, Pharmeasy and United Health Group from the healthcare sector took part in the placement cell and offered profiles in supply chain management, strategy, sales and marketing and general management.