New Delhi: The Lehman Brothers’ collapse in the United States has not affected summer placements at Delhi University’s Faculty of Management Studies (FMS) in the banking sector.
About 50% of the summer internships offered at FMS this month were finance jobs, the same as last year. Offers from the marketing sector came second.
Leading banks such as Standard Chartered, Citibank, HSBC, Bank of America, American Express, ICICI Bank and Axis recruited 15% of the students for the two-month internship in both corporate and consumer banking.
”Despite global recession, there wasn’t much of a deviation from the placements last year. Even the percentage of finance jobs were as many as last year,” Arvind N, member, Placement Cell at FMS said.
The highest domestic package offered at the institute was Rs50000, the same as last year. The offers were made by Coca Cola and Cadburys. Among international offers, FMC Technologies, an oil exploration firm in France, repeated its last year’s offer of 1550 Euros per month. The average stipend, however, rose to Rs37,000 per month from around Rs30,000 last year.
While the business school registered 100% placements in four days, the internships offered niche profiles to students, ranging from private equity to investment banking to media and communication.
As many as 107 MBA students and 48 students got multiple job offers.
Corporate finance continued to lead with 19% of the batch being offered the profile.
29% of the batch were placed in marketing positions, of which 21% got offers from IT firms — such as Microsoft and Apple — that offered sales and marketing profiles for the first time.