The summer internship selection for the fourth batch of PG Programme (2018-20) of IIM-Visakhapatnam has turned into a big hit, with top companies issuing offer letters to all the 104 students, on Thursday.

The highest stipend clocked was a whopping ₹2.5 lakh while the average for the entire batch was put at ₹50,630, breaking all the previous records, the IIM, Visakhapatnam officials said.

Major recruiters

Sales and marketing (34%), strategy and advisory (19%), general management (23%), and CRM (15%) were the dominant roles offered by the companies while finance, operations and product management roles accounted for 9% of the offers.

Leading consulting firm KPMG recruited students in advisory roles. The who’s who of BFSI sector such as Yes Bank, ICICI Lombard and HDFC Bank offered roles across the verticals of customer relationship management, wholesale marketing, underwriting and business development.

Multinational conglomerate Bosch offered roles in general management, sales, marketing and product management. Bengaluru-headquartered full-service landholding development company Century Real Estate recruited for strategy role. Multinational firms including engineering and construction giant L&T and Ultratech under the Aditya Birla Group were the first-time recruiters at IIM-V.

FMCG companies such as Amul and reliable brands like Neway Paints also made offers in business development.Some of the leading business-process services companies such as Sutherland and Conduent recruited students for the coveted roles of operational excellence. NISG, architect of e-Government solutions, inducted students for e-governance initiatives. Blue-chip Central Public Sector Enterprises IOCL and HPCL signed up students in operations and marketing domains.

“This season has witnessed interest from other sectors like logistics, stock-broking, social and financial inclusion. Well-funded startups in the fintech and education domains also hired students in key roles. Increased efforts in reaching out to more companies for placing a larger batch resulted in early completion of the summer placement processProf. Ganesh Prabhu, chairperson, Career Development Services of IIM-V said.

Director M. Chandrasekhar said the robust summer placements have proved again the strengths that recruiters find in the students.