Finance summer internships take further dip at IIM-A

Photo: Sanjay

In what seems to be a fallout of the global economic meltdown, finance hiring for summer internships further dropped at the Indian Institute of Management (IIM), Ahmedabad for the third year in a row with only 28.38% of the offers coming from this sought-after vertical. Companies offering consulting and marketing or sales training, however, hired more students than earlier.

(Numbers indicate the percentage of the batch interning in that function)

A total of 110 companies recruited 377 PGP students from the class of 2013. According to the institute’s summer placement report, which was released after being audited by CRISIL and conforming to the Indian Placement Reporting Standards, two students chose to opt out of the placements.

About 11% of the batch will complete their summer internships at international locations, with South-East Asia postings being the maximum. Not all the companies had announced their Indian posting locations until the time of releasing the summer placement report, but from the available data for 127 offers, Mumbai received the highest number of postings followed by New Delhi and its suburbs.

The Royal Bank of Scotland, Citigroup, HSBC, Morgan Stanley and Goldman Sachs were among the highest recruiters from the financial sector, while the Boston Consulting Group and Accenture made the most consulting hirings. HUL, P&G; and Airtel offered corporate finance roles while online services companies such as Google, Groupon and Cleartrip offered sales and marketing roles. Tata Administrative Services, Aditya Birla Group and Mahindra offered general management internships.

McKinsey, Bain, Microsoft, Reliance, Tata Steel, Amazon, Abbott, Novartis, GSK Pharma and Astra Zeneca were some of the other recruiters that hired summer interns from IIM Ahmedabad.

A few students took up internships at the office of former President of India Dr APJ Abdul Kalam and at the National Innovation Foundation.