IIFT summer placements touch average stipend at Rs 1.48 lakh


The Indian Institute of Foreign Trade (IIFT) said Wednesday it has completed summer placements for its 2018-20 batch with an average stipend of Rs 1.48 lakh.

Summer placement this year has witnessed participation from a large number of companies from diverse sectors and industries, the IIFT, which is under the commerce ministry, said in a statement. "The largest ever batch at IIFT with 321 students was placed across 90 companies with both the highest and average stipends seeing an upward trend," it said.

Among the 32 new companies that visited the institute this year includes Apollo Tyres, British Council Management Services, Edelweiss Asset Management, Genpact, Microsoft, MTR Foods, Phillips Healthcare, Pidilite Industries, and Swiggy. "Tata Group remained a major recruiter with group companies making 15 offers across functions like sales and marketing, finance, general management and operations," it added.

Students got 16 international offers across Thailand, Africa, Singapore and the Middle East, the statement said. "While the highest stipend increased to Rs 1,60,000 per month, the average stipend stood at Rs 1,48,000 ... The average stipend for the top 50 per cent of the batch is Rs 2,20,000," it said.

In sales and marketing, FMCG led the recruitment with the likes of Dabur, GILAC, ITC, L'Oreal, Mother Dairy, and Nestle, it said adding Aditya Birla Fashion, Airtel, Bajaj Auto, JSW, LAVA, Maersk Line, Raymond, Royal Enfield, Shell, Citi Bank, and JP Morgan Chase also offered a variety of roles.

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