Mumbai,12th August 2023 Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR)’s PGDM and PGDM(BM) 2024 cohort, comprising 295 students, achieved a noteworthy feat by securing autumn internships in top companies with outstanding success, attaining an average stipend of Rs 3,15,000. The batch received 340 offers from 53 companies, with FMCG enterprises leading the way, closely followed by Consulting firms.
The median compensation of the batch surpassed Rs 3,00,000, while the average stipend witnessed a remarkable 7% increase over the previous year. The top 50% of the batch received an average offer of Rs 3,77,000, and the top 20% secured an average offer of Rs 4,25,000.
The other recruiters represent diverse sectors, including Corporate Finance, Corporate IT, General Management, Analytics, Investment Banking, Private Equity, Product Management, Product Marketing, Program Management, Sales & Marketing, and Supply Chain.
The autumn internships offered by SPJIMR are a unique aspect of its two-year full-time programmes, enabling students to engage in corporate internship projects during their second year of studies.
The recruitment process this year saw a mix of offline and online means, with some companies opting for hybrid methods.
“The support of our industry partners for the Autumns internship at SPJIMR demonstrates the commitment to develop a leadership pipeline for the future. We are proud to provide that pipeline with SPJIMR students who develop solutions that cut across knowledge streams and get the job done.” said Dr Renuka Kamath, Associate Dean (Full-Time Programmes), SPJIMR.
Dr Sajeev Abraham George, PGDM and PGDM(BM) Programme Chair said, “It gives us great satisfaction to see the continued faith in our students from the recruiting companies for the autumn internships. The projects undertaken by our students will enable them to get an immersive understanding of the demands of the industry and apply their learnings to help add superior value for these companies.”
FMCG emerged as the dominant sector, with 37% of the participants placed in this industry, followed by Consulting companies with 25% of the batch.
The number of offers in Investment Banking/Private Equity saw a record high with over a 100% increase compared to the previous year, and this sector also welcomed new recruiters. Despite a slowdown in the Tech industry, the number of product roles offered remained steady compared to the previous year.
The internship cycle this year saw about 28% of first-time recruiters participating. Some notable new names in SPJIMR’s portfolio include Amagi Labs, BlinkX, DarwinBox, Investcorp, PhonePe, The Rohatyn Group, among others.
SPJIMR follows an Autumn’s Cycle, where visiting firms identify and tailor internship projects for SPJIMR participants well in advance.