IIFT finishes summer placements with
record international offers; Average stipend sees a whopping 35% increase
IIFT-School of International Business has wrapped up its summer placements in record time, as compared to previous years, for the students of the flagship MBA(International Business) program, which witnessed the largest ever batch of 258 students for the Class of 2016. IIFT(established in 1963), which happens to be the fifth oldest B-school in the country, witnessed 94 recruiters making 267 offers. The top recruiters included Goldman Sachs, JP Morgan, Godrej Industries, Flipkart, Aditya Birla Group's Madura F&L and Vodafone, which together made a whopping 51 offers on campus.
The average stipend saw a marked increase of 35% with the average number of offers per company also increasing by 12%. The highest domestic stipend offered is Rs 4.9 lakhs for complete internship duration. Close to 34% of the batch received unprecedented six figure stipends for the entire duration of the summer internship. The TATA group(TATA Steel, TATA Motors, Titan, TATA International, TCS and mjunction)made a total of 19 offers on campus, thereby making a strong presence felt.
The Finance domain saw a wide diversity of roles on offer with Goldman Sachs and JP Morgan making the highest number of offers in this domain. Other notable recruiters were Nomura, Citibank, HSBC, Langham Capital and Edelweiss. Axis Bank and ICICI Bank returned to campus after a brief hiatus and offered consumer banking along with Citi Bank.
Sales and Marketing saw a wide representation across sectors like FMCG, Telecom, Pharma and Healthcare, e-commerce, consumer durables, media and advertising, apparel retail, automotive, iron and steel manufacturing. ITC, which has recruited from IIFT for the past 27 years, continued to hire interns. Among other FMCG firms Britannia, Reckitt Benckiser, L'Oreal, Godrej Consumer Products, SAB Miller, Hector Beverages and Tolaram Group made multiple offers. Other notable recruiters included Eli Lilly, HT Media, McCann Erickson, UB Global and Beam Suntory. New relationships were forged with Akzonobel, Janssen(J&J Pharma), Baxter, mjunction, SONY Entertainment Television(MSM), Metro Cash& Carry, Times OOH, DainikBhaskar Group, Mattel Toys, NEC Technologies, Tupperware, Zovi among many others.
The e-commerce sector hired aggressively from IIFT with over 10% of the batch opting to intern in the sector.
IIFT made giant strides in the Consulting domain with the prestigious Bill and Melinda Gates Foundation recruiting summer interns for the first time. Operations and Supply Chain consulting giant Global e-Procure(GeP) returned to IIFT after a couple of years. New relationships were forged with Deloitte India, Grant Thornton, Redseer& Actuate Business Consulting. Global Top-5 Executive Search Firm Russell Reynolds continued to hire summer interns exclusively from IIFT. Cognizant Business Consulting and Corporate Executive Board(CEB) recruited in good numbers.
The General Management domain saw all the regular recruiters like Mahindra and Mahindra, RPG, Airtel, Robert Bosch, Godrej Properties Limited, Interglobe, Hero Motocorp and L&T hire from IIFT. Accenture hired summer interns for a very niche strategy role for their Deal Origination and Corporate Strategy vertical. Technology giants Google and HP recruited in big numbers from IIFT. IT/ITes firms like HCL, TCS and Wipro made their presence felt with a wide gamut of roles.
The Operations domain saw Flipkart hiring the maximum number of interns. Maersk Line, the world's largest container shipping company hired interns from IIFT for the first time. Other roles were offered by Stryker, TATA Steel, TAFE, Metro Cash &Carry, DCM Shriram, AT Foods Limited and Biocon.
The Organization for Economic Co-operation and Development (OECD) recruited interns for the first time from IIFT exclusively for their Paris office as did the World Trade Centre for their Bangalore office. World Trade Organization returned to IIFT to recruit interns for their Geneva office. The European Union hired summer interns from IIFT exclusively.
International summer placements saw a staggering rise over last year with an almost 300% increase, with 12 offers. Roles offered were across Africa, Europe, Indonesia and Singapore. IIFT reinforced its standing as the best trade school in Asia with roles offered by ITC, Louis Dreyfus, AluZinc Asia, Benton, Golden-AgriResources, TATA International, AdaniWilmar and Torero Corp.
Dr. SurajitMitra, Director of IIFT quoted,"I am glad that IIFT this year has more emphatically indicated its primacy amongst the top B-schools of India through the Summer Placement process. It has set new bench mark for others. Congratulations students and Faculty!"