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20% Stipend Hike Expected For IIM Students

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Hike in stipend for IIM StudentsWith leading companies showing a continued interest in hiring interns in spite of a meltdown, students of the Indian Institutes of Management (IIMs) are not only optimistic of drawing attractive offers but also expect a rise in stipends by 15-20 per cent during summer placements this year.

“Students are looking forward to a good summer placement as we had attractive offers during final placements in March,” a member of the student placement committee at IIM Ahmedabad, said.

Students are also looking forward to winding up the placement season early this year by considering domestic companies over their international counterparts. Diversity of Indian companies offering internships has increased. Students are quite inclined towards domestic companies, which offer better roles, observed Chairperson Placements at IIM – Kozikode.

Recently business schools have also seen a spike in students opting for startups over leading brands. Students are not tempted by salary packages now. A large chunk wants to join startups, for they offer them varied, larger roles and allow them to contribute more to the growth of the organization as compared to traditional roles offered by established companies.

Demand for startups is also an indication that students are keen on taking up entrepreneurship amid slowdown. About 75 per cent students at IIM Kozhikode have expressed interest in interning at startups. In order to attract more startups, IIM Kozhikode is not charging placement fees from these ventures.

The summer placement process at institutes begins in the first week of November. Xavier School of Management (XLRI), Jamshedpur has also seen a spurt in new sectors like ecommerce and technology this year. However, XLRI is expecting only a single digit percentage rise in stipends this year.

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