IIFT completes summer placement with an average stipend of Rs.1.48 lakh
The Indian Institute of Foreign Trade (IIFT) has completed its summer placements for the batch of 2018-20 with an average stipend of Rs.1.48 lakh for the entire duration of two months, according to the NDTV report. As per the report, the largest ever batch at IIFT with 321 students was placed across 90 companies with both the highest and average stipends seeing an upward trend, said a statement from the Institute. Significant recruiters included Microsoft, Reliance Industries, Tata Group, Airtel, Bajaj Auto, General Electric, Goldman Sachs, HSBC, ICICI Bank, JP Morgan Chase, Google, Wipro, Cognizant and Capgemini in various sectors, noted the report.
The highest stipend increased to Rs. 1.60 lakh a month, the average stipend stood at Rs.1.48 lakh for the entire duration of two months – a staggering 8% increase despite a 15% increase in batch size. The average stipend for the top 50% of the batch is Rs. 2.20 lakh. In this summer placement session, as 32 new brands visited IIFT for the first time and 21 companies made more than five offers each and as much as 27% of the batch getting placed in the BFSI or Banking, Financial Services and Insurance sector, said the report.
Manoj Pant, Director at IIFT, Delhi and Kolkata, pointed out: “We are grateful to our old and new recruiters for their faith in IIFT and its students. IIFT takes pride in its student quality which is assiduously maintained through both a stringent entrance procedure and rigorous course curriculum.”
Among the 32 new firms that visited IIFT this year were both industry stalwarts and upcoming industry leaders such as AB InBev, Apollo Tyres, British Council Management Services, Brillio, Curefit, Edelweiss Asset Management, FinIQ, Genpact, Microsoft, MTR Foods, Phillips Healthcare, Pidilite Industries, Reliance Industries, Swiggy and more. In Sales and Marketing, FMCGs led the recruitment with the likes of AB InBev, Dabur, GILAC, ITC, L’Oreal, Mother Dairy, MTR Foods, Nestle and Pidilite making offers. Aditya Birla Fashion, Airtel, AkzoNobel, Bajaj Auto, CP Group, JSW, LAVA, Maersk Line, Philips Healthcare, Philips Lighting (Signify), Raymond, Royal Enfield, Shell, Tata Sky, etc. also offered a variety of roles in the Sales and Marketing domain, the report said. In the BFSI sector, roles in investment banking, retail banking, trade finance, fintech, financial consulting and corporate finance opened for IIFT students. Some of the significant names included Axis Bank, Centrum Group, Citi Bank, DBS, Discover Financial Services, Edelweiss Asset Management, Fin IQ, General Electric, Goldman Sachs, HSBC, ICICI Bank, Indus Valley Partners, JP Morgan Chase, Piramal Finance, Synergy Consulting and Yes Bank, concurred the report.
Meanwhile, the Citi Bank opened its coveted Consumer Banking role for the first time and recruited in good numbers, while Tata Group remained a significant recruiter with group companies making 15 offers across functions like Sales and Marketing, Finance, General Management and Operations. AB InBev, Airtel, DBS, Mahindra, Reliance Industries, RPG, etc., recruited students for their coveted General Management programs.
In IT, Analytics, and ECommerce, IIFT continued its association with Google, Wipro, Cognizant, Capgemini, Infoedge, ShopClues etc. with Microsoft and Swiggy recruiting from campus for the first time, the report said and added that the IIFT also saw participation from companies in the Healthcare sector with companies like Boston Scientific, Medtronic and Stryker making offers in verticals like sales and marketing, corporate finance and operations.
Trade and International placements stayed strong at IIFT with 16 international proposals being rolled out across Thailand, Africa, Singapore and the Middle East.
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