Tuesday, November 13, 2007

Top companies hire XLRI grads for summer internships

MBAUniverse.com Bureau
Nov 12, 2007
Jamshedpur based XLRI has completed its summer placement process for internships in summer of 2008. The process was a success with the crème-de-la-crème of the corporate world vying for the talents, informs XLRI.

The profiles offered were varied, from Hedge Funds to Retail Banking, Strategy Consulting to Human Resources, and Branding to Operations.

With domestic stipends reaching astronomical heights of Rs. 5 Lakhs, offered by Lehman Brothers, the process resulted in the batch of 2009 being placed in roles with the leading companies in the industry, both from India and abroad. Lehman Brothers, J P Morgan Chase, Hay and Microsoft offered stipends of more than Rs 1 lakh for domestic offers. Novartis, HUL, ABG, P&G, Transworld, Asian Paints and ICICI made foreign offers.

HSBC, Ernst & Young, ABG, Edelweiss, Deloitte Consulting, IBM and Nokia were the largest recruiters this year with the highest number of accepted offers. Other premier recruiters include Carlyle, Accenture Business Consulting, KPMG, TAS, Yahoo etc.

At XLRI, 27% of the students signed up for summer placements in the Finance sector. Lehman Investment Banking, EightCapital Hedge Fund, Indea Capital, Lotus Asset Management, J P Morgan Chase, The Carlyle Group, Edelweiss, Rabo Bank, Goldman Sachs, HSBC, Citi Bank, Standard Chartered, ICICI Bank, Axis Bank and SBI Capital Markets were some of the coveted companies that picked up XLRI grads.

Says XLRI, "We today boast of a faculty size of twenty in the area of Finance and Economics, which is unrivalled across B-school campuses in India. This long term vision of XLRI has produced excellent results in terms of the recruiters visiting XLRI."

According to XLRI, 21 % of the summer offers come from consulting companies including KPMG Consulting, Ernst & Young Human Capital, Hay Group, Hewitt Associates, Mercer Consulting, Accenture Business Consulting, Deloitte Consulting and IBM Business Consulting, Price Waterhouse Coopers and Tishman Speyers International Consulting.

In the domain of marketing organizations like Asian Paints, Britannia, Cadbury, Coke, Colgate Palmolive, GlaxoSmithKline, HUL, ITC, Johnson & Johnson, Marico, Nestle, P&G, Pepsi and Reckitt Benckiser offered summer jobs. In all, 37% of the students signed out with offers from FMCG / Manufacturing firms.

Says Professor Uday Damodaran, Chairperson of the Placement Committee, XLRI, "The challenge of running a placement system is one of continuously catering to the changing preferences/ needs of the students and recruiters. Reflecting the changing preferences of students all over, at XLRI too we saw- this year- a larger proportion of students interested in taking up summer assignments in the finance domain/ consultancy sector. To the credit of the student Placement Committee, they have been able to successfully address the needs of the students who participated in the summer internship programme."

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