IT IS a busy time of the year for management students who are either applying for corporate internships or working as interns in hope of bagging a pre-placement offer.
Internships have been integral to MBA education due to the on-field experience the students gain. However, with many internships eventually materialising into job offers, students are now more careful about choosing the right company and putting their best foot forward at work. While the MBA colleges allot separate time slots for internships, the process usually takes off in the second half of the year.
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At S P Jain Institute of Management & Research (SPJIMR), Andheri, the second-year students are already weeks into their eight-week corporate internship.
“Students start applying for internships in August and intern between September and October,” said Ankur Bansal, a second-year student who is also the student placement committee head. The Sydenham Institute of Management Studies, Research and Entrepreneurship Education allows first-year students to go for internships across the year.
At Narsee Monjee Institute of Management Studies (NMIMS), Vile Parle, the students will begin internships in April but the campus is abuzz with students applying for and choosing the right company for internships. “Companies have already started visiting our campus and the selection process is on,” said Karan Ghai, president of student placement committee.
For students, the internship period is a learning experience based on which they make future commitments. “An internship was an opportunity for me to gain a first-hand experience of the industry I wanted to work in before making a long-term career choice,” said Siddharth Parakh, an SPJIMR second-year student who has completed five weeks of internship at a private equity firm in Mumbai.
Mentorship from industry experts is an added advantage for students, added Parakh.
According to Bansal, not only does an internship prepare the students better for their future corporate engagements, it also introduces the students to job prospectives. Students agreed that preplacement offers (PPO) were coveted among students.
“It is one of the routes to placements. The autumn internships result in 51 per cent of the batch getting PPOs and interviews,” said Bansal.
“The high chance of a PPO pushes us to perform better during an internship,” said Parakh. Ghai, too, said around 200 students had last year converted their internships into PPOs. This year, most students sought internships in the FMCG and consulting sectors, staying away from start-ups. “Given the slowdown in start-ups, the demand for interning at start-ups was considerably less,” added Ghai.