IIM Ranchi – an exciting start to the internship culture
About the college: — IIM Ranchi is the 8th Indian Institute of Management, founded in 2010. It is mentored by the first IIM, IIM Calcutta. It aims to become a school of truly Indian Management, giving priority to local knowledge.
About internships: — The 2012 internship placement session was only the second since the Institute was started, and old and new recruiters alike ensured tremendous industry support. 76 offers were made for 67 students. Some interesting profiles were CSR, Sports Management and Real Estate.
Top recruiting organizations: — JP Morgan, Britannia, Maruti, Ernst & Young, IBM, Capgemini are just a few of the names.
What the placement committee has to say: — Avishek Basu Malik, Placement Coordinator, says:
When we started off, we had a lot of apprehensions given the fact that IIM Ranchi is a new Institute and the market being mostly bearish. However, we have managed to secure 100% placements for the second year in a row with an increase in the average stipend as well as building long-lasting relationships with a large number of eminent corporates. The fact that we do not have an alumni base yet did not act as a deterrent – the industry stepped up to support us to the hilt and no words can communicate our gratitude to them. We would also like to thank the Administration and academia at IIM Ranchi for helping us conduct a seamless Summer Internship process.
What the students have to say: — Mudit Jain, who interned with the CRG division of J P Morgan, says:
The internship program at J P Morgan is a well structured state of the art process that provides a fabulous learning platform. The culture was very transparent and very conducive to learning about any industry. Availability of latest and exhaustive research provided an ideal opportunity to gather knowledge. Apart from regular day to day activities, I was benefited most through the precious interactions sessions with the business heads at J P Morgan. As expected from an investment bank, the quantum of work was huge but it also provided greater exposure.
The most unique internship: — One student worked with the Jharkhand Handicrafts industry (Jharco) where he had to devise a marketing strategy to make and sell more customized handicrafts. Another student worked with an organization called the HBS (Harvard Business School) Angels where he was directly involved in analyzing seed capital funding of a few startups which might go on to become big names in a few years from now.
Internship statistics: —
- Average stipend: INR 31,000 per month
- Highest stipend: INR 80,000/month
- Number of companies: 43
- 43% of the profiles offered were related to Finance and 38% were Marketing related.
With employers giving rave reviews and students getting a wide choice of internships, IIM Ranchi’s connect with the industry seems to be strong and growing
