The Summer Internship Program 2007 at XLRI Jamshedpur, School of Business and Human Resources, has concluded on a highly successful note. Companies vied with each other to select the 180 first year students, both from the Business Management (BM) and Personnel Management & Industrial Relations (PM&IR) courses.
2 students signed out with JP Morgan Chase which offered the highest domestic stipend of Rs 2 lakhs. This was followed by the Yahoo and Hay Group, which offered Rs 90,000 each.
As many as 6 overseas offers were accepted, including offers from Novartis in Switzerland, Muscat Finance, TAS and ABG.
The Banking, Finance and Insurance sector saw a sharp increase in number of premier recruiters such as American Express, Deutsche Bank, Goldman Sachs Equity Research, JP Morgan Chase, Lehman Brothers, and Rabobank alongside regulars like AIG, Citibank, Edelweiss Capital, HSBC, ICICI Prudential, Standard Chartered Bank and UTI Bank. Private equity firms like Carlyle Group and Barings Private Equity Partners were also on campus for the first time. 25% of the batch opted for internships in the finance sector.
IT Consulting major Cognizant (14) was the largest recruiter this year with the maximum number of accepted offers. Other major recruiters were Deloitte Consulting, Ernst & Young and IBM (7) and Dell, Hewitt and TAS (6).
32 companies participated in Slot1 while 24 companies recruited students in Slot 2.
Reflecting the growing brand equity of both XLRI’s Business Management as well as the top notch PM&IR programme, this year saw 17% of the batch opting for consulting profiles with premier recruiters like Accenture, Cognizant, Deloitte Consulting, Ernst & Young, Hay Group, Hewitt Associates, IBM, KPMG Consulting, Mercer and SAP America.
XLRI’s proven track record as an FMCG favourite was reinforced by the active participation of top organizations – Asian Paints, Britannia, Cadbury, Coke, Colgate Palmolive, GlaxoSmithKline, Godrej, HLL, ITC, Marico, Nestle, P&G, Pepsi, Reckitt Benckiser and Seagram. 25% of the students signed out with offers from FMCG / Manufacturing firms.
The new entrants in the IT / ITES/ Technology sector were Yahoo(1), Dell(6), Microsoft(4) and Nokia(3).This sector accounted for 19% of the batch.
Major recruiters from business conglomerates included Aditya Birla Group, L&T, Murugappa Group, RPG and TAS with 24 students opting for them.
According to Prof Uday Damodaran, Chairperson (Placement): "This year we have far exceeded the exacting standards that we had set for ourselves for the Summer Internship Programme. The numbers are there for all to see - the large number of companies participating, the number of new recruiters, the very high stipends, etc. But more than all that we are very happy that the major stakeholders in the process- the students and the recruiters- were extremely pleased at the outcome of the process."