B-school students hit jackpot, offered Rs 3.3 lakh for a summer job

As the bout of summer placements at various business schools in India comes to a close this week, we’ve seen a 65 percent rise in the highest stipend offered.

[caption id=“attachment_108989” align=“alignleft” width=“380”]  McKinsey and Company have raised the bar and have offered Rs 3.3 lakh for the two-month placement.[/caption]

This year,McKinsey and Company have raised the bar and have offered Rs 3.3 lakh for the two-month placement.The second highest offer this year of Rs 3 lakh came from Boston Consulting Group, which recruited one candidate. Both these companies have hired students for the junior associate position.

Priyank Chheda, one of the three students to bag the top offer from Jamnalal Bajaj Institute of Management Studies (JBIMS), told the Times of India, “McKinsey usually visits the campus only during the final placements. This time, JBIMS is one of their four core campuses, from where they have picked up students for internship. The other three institutes are the IIMs.”

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For the past three years the highest stipend offered has remained sustained at Rs 2 lakh.It was Rs 1.5 lakh in 2010 and in 2009, the stipend for the summer job could barely cross the six-digit figure.

A wide range of companies form across the sectors took part this year with the consulting firms, FMCG, pharmaceuticals seeking to recruit freshers. In the banking and financial sectors - Citibank, HSBC, ICICI, Goldman Sachs, JP Morgan, manufacturing sector - Godrej, Schlumberger, Mahindra, L&T and a few IT firms also visited the campus.