Indian Institute of Foreign Trade (IIFT) recently completed summer placements for its Flagship MBA (IB) Programme, batch of 2020-22 with the largest-ever batch of 401 students placed across 123 companies including 46 new recruiters with an average stipend of 1.61 Lakhs for two months, while the median stipend stood at 1.50 Lakhs. IIFT managed to retain the highest stipend of 3.2 lacs for two months despite a 20% increase in batch size compared to last year. The top 100 students of the batch received an average stipend of 2.37 lakhs for two months with 70% of the batch receiving a six-figure stipend.
Stepping up to the challenge of virtual placements, IIFT witnessed participation from 123 recruiters from diverse sectors and industries during this cycle of summer placements.
Even during these remarkable times, IIFT, an autonomous university under the Ministry of Commerce, was able to build new associations for Summer Placements with eminent brands like Bridgestone, CIBC, COFCO, Conduent, EY, Flipkart, Grofers, Jain Farm Fresh Foods, Jain Irrigation, IMI, Mars, McKinsey & Co., Shangrila Corporate Services, United Breweries, Udaan, Unacademy, VOIS and Xiaomi to name a few.
Prof. Manoj Pant, Director, IIFT, said, "We are grateful to our old and new recruiters for their continued support and faith in IIFT and its students during this pandemic. We look forward to the support of the corporates and our alumni for the next placement cycle and we hope for strengthening our position as a top B school.”
The 46 new recruiters of this year have offered roles in various domains such as Business Consulting, Product Management, Sales & Marketing, Finance, Commodity Trading, Trade Consulting, Category Management, Operations, Logistics, Digital Marketing, Business Development, and General Management.
Continuing the trend, IIFT managed to attract top trade firms to campus for Summer Placements. The niche trade domain saw new associations for Summer Placements with COFCO, International Materials Inc, and Olam Agro. Our regular recruiters like LDC, Tata International, and Maersk continued to show faith in the students of IIFT, making it the only institute to host these renowned companies.
Sales & Marketing continued to be among the top domains with around 35% of the offers from leading brands like Bajaj, Dabur, GE (Commercial Leadership Program), Godrej Consumer Products Ltd, Godrej Properties Limited, GSK, HT Media, ITC, L’Oréal, Medtronic and Tata Consumer Products, Tata International continuing to recruit in large numbers while the new recruiters included Mars and United Breweries.
Finance domain attracted 24% of the total offers from the big names like Citibank, D.E. Shaw, Goldman Sachs, General Electric (Financial Management Program), HSBC STG, ICICI Bank, Indus Valley Partners, and JP Morgan Chase & Co, Silverdale & Synergy Consulting for premier roles.
Strengthening its hold on the coveted Consulting domain, the associations with firms like BOD, Cognizant Consulting, EY, and McKinsey & Co. resulted in 9% of the total offers in this domain.
With 35+ offers from tech firms like Conduent, Genpact, Google, Hexaware, Microsoft, and TCS, IT & Analytics remained a preferred domain attracting 9% of the total offers.
The boom in the e-commerce industry brought various offers for the batch, led by industry leaders like Flipkart and Grofers. Recruiters in this space offered a surfeit of new roles giving the participants a myriad of options to choose from.
Even during the pandemic, IIFT was successful in retaining strong ties with its legacy recruiters such as Bajaj Auto, Becton Dickinson, Dabur, Godrej Consumer Products Ltd, Godrej Properties Limited, Goldman Sachs, Google, JP Morgan Chase & Co, ITC, LDC, L’Oréal and Microsoft which remained the top-recruiters with opportunities in multiple sectors and domains.
Prof. Rohit Mehtani, Head of the Corporate Relations and Placements Division, said “the confidence of the corporate sector in the Institute remains unshaken even amidst the crisis and the important offers continue to be rolled out to our students. The trust of the business organizations in the ability of our students is an acknowledgement of the fact that IIFT has taken due care to keep its curriculum relevant to the needs of the time.”