Being a fresher in a market where most employers are asking for at least a year’s experience, internships are the best bet, and almost 90 per cent Indian students prefer internships to gain experience. But these short-term apprenticeships which may or may not involve making coffee, don’t really fetch a high pay, if they are paid at all. But if you are hired by top corporations from a sought after institute like IIM Kozhikode, the stipend will be at least Rs 2.5 lakh for a two-month internship.
Hefty packages just to gain experience
Students who had enrolled in three MBA programmes at the prestigious business school’s Kozhikode campus, have bagged summer internships paying as much as Rs 6.5 lakh for two months. More than five students landed summer jobs at 122 companies including the likes of Piramal, Suzuki Japan, Amazon, American Express, Nestle, Standard Chartered, Boston Consulting Group and Puma among big brands. While the highest offer a 73 per cent jump from Rs 4 lakh last year, stipends saw a 25 per cent in general to go from Rs 2 lakh to Rs 2.5 lakh.
Securing an admission a challenge on its own
But getting into IIMs is a tough job to begin with, since only 3300 candidates are selected out of 2.3 lakh that appear for the Common Admission Test (CAT). Well known alumni from the India’s top management institute IIM-A, include former RBI governor Raghuram Rajan, and ex-Chief Economic Advisor Arvind Subramanian, along with MakeMyTrip founder Deep Kalra. Some of them have even made a name on alternate career paths, such as cricket commentator Harsha Bhogle and author Chetan Bhagat.
The Indian Institute of Managements are known for 100 per cent placement, and for 2022, IIM Bengaluru stood out as the top among them. It was also the 12th institute in the Asia Pacific region this year.