IIM Bangalore SIP 2023 -25: More than 100 MBA students at Bangalore’s Indian Institute of Management were unsuccessful in 2023’s summer internship placements, which marked a one-in-six failure rate described as ‘unheard-of’ within the IIM ecosystem, reported Telegraph India on 21 November.
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Attributing to this situation, some cited a recession-driven slowdown in hiring in the US information technology sector that provides the bulk of the clientele for Indian ITes and IT firms.
According to details, reported by the daily, students enrolled in a two-year MBA programme need to undergo an eight-week summer internship at the end of the first year to become eligible to be promoted to the second year.
Those with over 34 months of past work experience can only opt out of the internship, however, those students too seek internships as the opportunity involves some remuneration, boosts their CV, and helps their training.
Now, IIM Bangalore is expected to ‘arrange’ internships for the unsuccessful students. Meanwhile, the students are concerned about the quality of these prospective internships and their usefulness in getting good jobs.
“We don’t know when and which types of company would now come (forward to give the students internships),” The Telegraph quoted an IIM Bangalore student as saying.
For a two-year MBA programme in IIM Bangalore, a student has to pay ₹24.5 lakh as fees. “Most of the students have taken hefty bank loans to pay for the course, and the repayment would start after they get a job,” the student said, adding, “To secure good jobs, the internship is a vital area. This (large-scale failure at securing internships) is very worrying.”
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IIM Calcutta’s faculty member even said that the failure rate at the internship placements at IIM Bangalore had to be a “record”, at least for recent years.
He added that older IIMs such as the ones in Bangalore, Calcutta, Ahmedabad, Indore, and Lucknow tended to score 100 or near-100 percent success at the internship placements.
Others excluding Bangalore had done so this year too. But there is a difference, as other IIMs have about 400 students per MBA batch each compared with about 600 at IIM Bangalore.
In 2022, all 529 students at IIM Bangalore that took the interviews bagged internships, while in 2023, 490 students secured internship placements, that took place between 6-11 November.
“During the internship, students receive handsome training in various areas like marketing, finance, IT, operations, and so on,” an IIM Calcutta faculty member said.
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Commenting on the situation, the head of communications at the institute Kavitha Kumar replied, as The Telegraph quoted, “We are proud that over 3 active days, IIM Bangalore placed over 490 students which far exceeds the batch sizes in other similar prestigious institutes.”
“This reflects the confidence and faith of industry which prefers our students in the market with repressed global sentiment. Nonetheless, it is important to note that a couple of sectors like IT, ITeS, which do volume hiring have stayed away from campuses, this year,” she added.
Her reply also indicated that the institute would help those who had missed out during the interviews. “We are committed to placing all our students and we have received a positive response from all our industry partners…” Kumar wrote. Source : Mint
