Employers across the automobile, banking and finance, and telecom sectors are relying more on summer internships to zero in on potential candidates for full-time positions. Management Development Institute, Gurgaon, witnessed a 10 per cent hike in average stipend at Rs 2,31,000 for two-months. The average stipend offered to summer interns from the Tata Institute of Social Sciences (TISS), for a period of two months, was Rs 2,08,000 this year, whereas it was only Rs 2,04,000 in 2018.
However, at IIM Kozhikode, the figure actually dropped from Rs 1,71,000 in 2018, to Rs 1,68,000 this year.
A study by Internshala, an online training and internship platform, reveals that 47 per cent of summer internships have been in the field of management because organisations are looking out for people with hands-on experience. Grofers, Flipkart and other e-commerce startups are amongst those who take in maximum summer interns.
The sectors that pay the highest are fast moving consumer goods (FMCG) and e-commerce companies. According to the Management Development Institute (MDI), Gurgaon, L’Oreal made the highest offer of Rs 3,20,000. The maximum number of summer internships were offered by Amazon, Flipkart, and Grofers at the top b-schools of the country.
A recent India Skills Report published in collaboration with the All India Council for Technical Education (AICTE), revealed that 84 per cent students in India prefer grabbing internship opportunities. However, the study also disclosed that only 37 per cent of organisations in the country provide such opportunities to help students hone their skills in their preferred domains, before they settle into full-time employment.