Over 100 first-year MBA students failed to secure summer internships in the recently held placements at the Indian Institute of Management, Bangalore. This resulted in about one in six students at the institute with no offer in their hands. However, negating the news of any uncertainty in internship offers, the institute said it does not see a need for any alarm.
The MBA programme at IIM Bangalore is finalised only after the completion of an eight-week summer internship at the end of the first year. Internships are crucial for students' advancement to the second year. Only 490 students from a batch of 600 had received offers for summer internships in the interviews that were held between November 6-11.
Responding to the low internships offers at the institute, Debolina Dutta, chairperson, Career Development Services, IIM Bangalore said, "There was a Diwali break and many companies requested to resume the placements after the festival because interview panels were unavailable. While we do not deny that job market activity is lowkey everywhere, we do not see a need for alarm."
Further expressing hope for securing placements for all students in the future, she added, "We saw 160 companies in first three days making offers to 490 students. Our students' capability in the market's eyes remains as strong as ever, even in the face of a perceived slump in the global market. The placement process has now resumed with marquee companies offering high-quality internship offers to our students. We should be able to complete the process soon."
She explained that the summer internships are held in April-May, adding that the institute tries to complete the summer internship selection process within a designated week well in advance to avoid clashes with the academic schedule. Ms Dutta also highlighted that over 80 per cent of the batch got summer internship offers within the designated week. She cited factors such as tight job market, proximity to Diwali as a reason for extending the summer selection process beyond the designated week.
"Summer internship is an academic requirement. The process to get a summer internship for the remaining students is progressing well and we expect to complete it soon," said Ms Dutta.