Summer internship stipends jump 30-40%
Big recruiters at leading B-schools are hiking stipends for summer internships by 30-40%, sending out a strong signal that they expect the economy to rev up and the job market to turn red hot in FY16 and FY17. Companies are offering as much as Rs 4.2 lakh for a two-month internship and large and established companies are jostling with upstart ecommerce startups for fresh talent. Online retailer Snapdeal — which just raised $627 million from SoftBank — has already made offers to over 50 interns during summer placements compared with 15 last year. It is offering stipends of Rs 1 lakh for two months. Goldman Sachs will be offering stipends of around Rs 1.55 lakh; HUL, Marico and Castrol around Rs 1.5 lakh; Barclays Shared Services around Rs 1.6 lakh and Dabur approximately Rs 1.4 lakh, campus sources said.
Read the Economic Times news report here.