With more offers from more number of recruiters with higher salary, Indian Institute of Foreign Trade (IIFT) has wrapped the summer placement for its largest ever MBA (IB) 2019-21 batch. Students of MBA (IB) 2019-21 batch at Indian Institute of Foreign Trade (IIFT) have all reasons to smile as IIFT emerges the first and fastest B-school of India completing its summer placement 2020 with 13.5% higher average salary than last year apart from receiving record number of offers from top recruiters.
IIFT Summer Placement 2020: Highlights
Here are the highlights of IIFT Summer Placement for the 2019-21 batch. The summer internships will be of two month duration in the summers of 2020:
- Average Salary in summer 2020 goes up to Rs.1,68,000 for 2 months
- The increase in Average stipend is 13.5%
- Highest salary in summer 2020 offered is Rs.3,20,000 for 2 months
- Companies with Average Stipend of over Rs 2,00,000 has increased by 46%
- 96 Companies participated in IIFT Summer Placement for 2019-21 Batch
- 42 New Recruiters visited IIFT for Summer Placement this year
- 27% of the batch got placed in the Banking, Financial Services and Insurance sector
This year, the average stipend increased by 13.5%. While the highest stipend offered was Rs. 3,20,000, the average stipend rose to Rs. 1,68,000 for the entire duration of 2 months.
The average stipend for the top 50% of the batch was Rs. 2,42,000 for 2 months. This year the number of companies with an average stipend of over Rs 2,00,000 has increased by 46%.
The other highlights of this placement include 42 new brands visiting IIFT for the first time. These are well established enterprises and upcoming industry leaders. In a major achievement, 27% of the batch got placed in the Banking, Financial Services and Insurance sector.
1.68 lakh Average Stipend
Sharing the information, IIFT has advised that the premier B-school has completed summer placements for its 2019-21 batch with an average stipend of Rs. 1.68 lakh as compared to Rs 1.37 lakh last year. The Summer placement for the batch witnessed participation from a large number of companies from diverse sectors and industries across all domains.
96 Recruiters made offers
Around 96 leading recruiters made offers to the largest ever batch of IIFT students and the companies hired students aggressively with many companies recruiting more students. ITC, which has been recruiting from IIFT for the last 30 years continued to hire in good numbers.
Students with more choices: Many offers declined
The key highlight of the summer placements this year is that leading brands across all domains visited the campus and competed amongst each other to recruit talented students.
The average stipend increased by a whopping 13.5%. Emphasis was to achieve quality summer placements and regrets were expressed to many companies.
New Roles Offered by Top Recruiters
Number of brand leaders visited IIFT campus for Summer Internship Placement Process has increased significantly. Coveted leadership programs and new roles on campus such as Aditya Birla Group’s Leadership Associate Program (LEAP), Hindustan Coca-Cola Beverages’ Golden Threshold Program, HUL’s Unilever Leadership Internship Program (ULIP) and DE Shaw’s Financial Operations Program were opened for the first time.
BFSI: 27% Offers
In the BFSI sector, roles in investment banking, retail banking, trade finance, fintech, financial consulting and corporate finance opened for IIFT students. Recruiters included Adqvest Capital, Apollo Tyres, Bira91, BMW, Citi Bank, CRISIL, DCM Shriram, D E Shaw, Discover Financial Services, Duff & Phelps, General Electric, Goldman Sachs, HSBC, ICICI Bank, JP Morgan Chase, Loan Adda, SilverDale, SREI, Synergy Consulting, Toffee Insurance, Tresvista and Swiggy.
Sales & Marketing
In the Sales and Marketing domain, FMCGs led the recruitment with the likes of Dabur, GILAC, Google, Haldirams, Hindustan Coca Cola Beverages, HUL, ITC, L’Oréal, Tata Global Beverages Limited making several offers to the batch. Aditya Birla Fashion Retail Limited, AkzoNobel, Amway, BAJAJ Auto, BMW, Brillio, Capegemini, CUMI, DCM Shriram, Decathlon, Epik IndiFI, Haldirams, Hero Electronix, Hero Motorcorp, HT Media, L&T, OfBusiness, Raymonds, RPG, Schindler, Shell, Signify, Tata Metaliks, Tata Sky, Tata Consultancy Service, Titan, United Phosphorus Limited, ValueLabs, VIP Industries, Welspun and Wipro also offered a variety of roles in the Sales and Marketing domain.
Aditya Birla Group, Airtel, Axis Bank, Mahindra, Reliance Industries, RPG etc., recruited students for their coveted General Management programs.
In IT, IIFT continued its association with industry leaders like Brillio, Droom, Fourbrick Technology, Genpact, Google, Hexaware, Lazerken, Microsoft, Wipro and Capgemini.
Pharmaceutical & Healthcare
IIFT also witnessed participation from many companies in the Pharmaceutical and Healthcare sector with companies like Amway, Cipla, Eli Lilly, GSK Consumer Healthcare, Medtronic, OmniActives, Philips Healthcare and Sanofi making offers in multiple domains.
Participation from Trade and Operations based companies also stayed strong with companies like Becton Dickinson, Cogoport, Droom, Field Fresh, GeminiCorp, Louis Dreyfus Company, Maersk Line, Ninjacart, OfBusiness, VIP Industries, Tata International and United Phosphorus Limited visiting the campus for placements.
Prof. Manoj Pant, Director, IIFT, said, “We are grateful to our old and new recruiters for their continued support and faith in IIFT and its students. IIFT continues to pride itself on its student quality which is holistically nurtured through a rigorous course curriculum, world-class faculty and continuous industry exposure.”
The Indian Institute of Foreign Trade (IIFT) was set up in 1963 by the Government of India as an autonomous organisation to help professionalise the country's foreign trade management and increase exports by developing human resources; generating, analysing and disseminating data; and conducting research. IIFT offers a diverse portfolio of long term management programmes in International Business namely 2 years full time MBA (International Business);
at New Delhi & Kolkata campuses; 3 year MBA (International Business) (Part-Time), New Delhi and Kolkata campuses; Executive Masters in International Business, New Delhi; Certificate Programme in Export Management at New Delhi campus.
IIFT proposes to launch its new campus at Kakinada also. The candidates appearing in IIFT entrance exam on Sunday December 1, 2019 may expect to get admission in one of the 3 domestic campuses in MBA (IB) 2020-22 batch.
Stay tuned to MBAUniverse.com for more updates on IIFT Summer placement 2019