IIM Visakhapatnam sets summer placement record

Visakhapatnam: The summer placement season for the fifth batch (PGP class of 2019-21) of the Indian Institute of Management Visakhapatnam (IIM-V) concluded on Saturday. The average stipend of the top 10% has been Rs 1,25,500 and top quartile is Rs. 98,482, while the average for the entire batch stood at Rs 51,726

All the 121 students in the batch received summer internship offers, the highest stipend clocking a whopping Rs two lakh. The average stipend of the top 10% is Rs 1,25,500 and top quartile is Rs 98,482, while the average for the entire batch stood at Rs 51,726, breaking all previous records.

Sector wise spread of the offers are as follows: BFSI (28 %), Consulting (9%), Conglomerate (5%), IT/ITES (25%), E-Commerce (6%), Fintech (3%),Telecom (5%), Logistics (1%), Hospitality (3%), Technology (3%), Oil & Gas (3%), Manufacturing(6% ), Education (1%), Transportation (1%) and Automobile(1%).

The major positions included Sales & Marketing (50%), Strategy & Advisory (10%), Finance (15%), General Management (4%), Product Management (9%), Analytics (4%), HR (2%), Operations (3%) and Project Management (3%).

Leading consulting firm Deloitte recruited students for their Advisory role.

Prof M Chandrasekhar, Director of IIM Visakhapatnam, said “Crossing milestones ahead of competition is a way of life at the Institute. The successful conclusion of summer placements in January itself is an exemplification of this fact. It’s also a reflection of our strengths that find an echo in the superior system-soft and social skills that our students bring to the table.”

Commenting on the season, Prof Deepika Gupta, Chairperson, Career Development Services, IIM Visakhapatnam, said “The Institute is thankful to the recruiters for showing their faith and confidence in our students in spite of economic slowdown. We have been able to set benchmarks for ourselves with this achievement and we aim to continue to set new trends”.

Sooraj James, Placement Secretary, said "The sharp increase in the number of offers made by many of the sought-after recruiters is a testimony to the talent and quality of our students. We would also like to extend our gratitude to all the recruiters for participating in the process.”