IIMs lag behind on summer placement stipends

Well-known business schools across the country have outperformed or kept pace with some premier Indian Institutes of Management (IIMs) during this year’s summer placements, reports Shreya Biswas.

The highest and average stipends at B-schools such as XLRI, FMS, SPJIMR and JBIMS for the entire duration of placements have crossed the comparative figures offered to students at established IIMs at Kozhikode, Indore and Shillong this year. Top IIMs at Ahmedabad, Bangalore and Kolkata do not reveal stipend fi gures.
One of the reasons the non-IIMs have seen a great season is that the banking sector and consulting companies, which are relatively better pay masters, picked up a huge chunk of interns. “It has been a great season for us. Despite a bigger batch size, 180 compared with 120 last year, we have been able to place students in a record time of three-and-a-half days,” says Rajiv Misra, chairperson, placement committee, XLRI.

Talking heads

These institutes (the non-IIMs) have a stronger alumni base compared with these IIMs, which help in placements. While students opt for B-schools that have a proven track record as they have been around for longer, alumni tend to go back to their alma maters to pick up fresh candidates.

Chaitali Mukherjee, Country manager, Right Management India

Older institutes like ours have built a relationship with companies over a long time. The IIMs will need time to do so. That’s also the reason we have a higher cut-off for students.

Abbasali Gabula, Deputy director, external relations and administration, SPJIMR