Summer placement at IIM-Kozhikode (IIM-K) of the 22nd batch of the 2-year PGP saw a 21% increase in average and 43% rise in median stipends.
The placement of 421 students of the 423-strong PGP batch, the biggest cohort so far at IIM-K, was completed in a record 3.5 days, the Institute said in a press release.
The median stipend touched Rs 2 lakh this year, a hefty rise of 43%. Meanwhile, 27 students got the highest stipend of Rs 3 lakh, a three-fold rise over the previous year.
The top 100 students received an average stipend of Rs 2.56 lakh, a 14% increase from last year.
A total of 105 companies had participated in the placement, including 27 new recruiters. Apart from the increase in the average stipend, the students were offered quite a few niche roles being offered to students.
The students also act as brand ambassadors for the organization on campus, acting as spokespersons and spreading awareness about the company in general.
The new recruiters included ABInBev, AstraZeneca, Dr Reddy’s Laboratories, Edelweiss GWAM, Flipkart, Siemens, and Uber.
Accenture Strategy, Amazon, Deloitte USI, Goldman Sachs, Pidilite, Uber, and Wipro were some of the top recruiters who extended 81 offers to approximately 20% of the batch.
IIM-K says Summer Internship is an integral part of the 2-year PGP program. During their first year, students deal with functional areas of Marketing, Finance, Consulting, Economics, Organizational Behaviour and Human Resource Management and Operations and Information Technology.
The courses aim at moulding their work ethic and developing skills highly valued by the contemporary industry.
The summer internship of 8-10 weeks is held on completion of the first year. Working in the industry, they get exposure to a real-time business environment. It also makes them capable of taking up responsibilities to further their career goals.
It also serves as a platform for applying the management theories learnt in the classroom and helps in providing clarity about the functional area that they desire to specialize in.
ALSO READ: IIM Lucknow Team Bags 1st Prize in Accenture B-School Challenge
For the recruiters, internship scores over interview-based final recruitment as a method of evaluating potential employees.
At the end of the internship, deserving candidates get Pre-Placement Offers. The interns also offer a fresh perspective to projects. They will be able to give an objective and unbiased point of view about the organization’s work processes.
The students also act as brand ambassadors for the organization on campus, acting as spokespersons and spreading awareness about the company in general.
