The Indian Institute of Foreign Trade (IIFT) recently concluded its summer placement for the 2018-20 batch with students securing an average stipend of Rs 1.48 lakh per annum.
The Indian Institute of Foreign Trade (IIFT) recently concluded its summer placement for the 2018-20 batch with students securing an average stipend of Rs 1.48 lakh per annum. The institute is set up under the Ministry of Commerce and it conducts two rounds of placement each year. According to a statement released by IIT, the summer placements for the batch that will pass out in 2020, witnessed the participation of a large number of companies from different sectors and industries. It added that the 2018-20 batch has the largest number of students (321) who have been placed across 90 companies. The stipend offered to the students this year saw an upward trend in both the highest and average stipends.
Tata Group remained the major recruiter among the 90 companies that participated in the summer placement process making a total of 15 offers to the students across functions like finance, sales and marketing, general management and operations. There were 32 new companies that participated in the institute’s summer placement process this year. It included British Council Management Services, Genpact, Phillips Healthcare, Apollo Tyres, Edelweiss Asset Management, Microsoft, MTR Foods, Swiggy and Pidilite Industries. To top it all, students received a total of 16 International offers from companies based in the Middle East, Africa, Thailand and Singapore.
Earlier in the year, the institute had concluded its final placement process for the 2016-18 batch. A total of 94 companies visited the IIFT to hire candidates out of a lot of 288 students. While the overall average CTC of the batch was Rs 19.23 LPA, the average domestic CTC was Rs 18.27 LPA. A total of 94 Pre Placement Offers (PPOs) were also made to the 2018 batch. Companies like ITC, Bajaj, ICICI, Yes Bank, Axis Bank, Godrej, Tata Steel, GE, Pepsico, HP, Britannia, Hero were among many others that recruited students this year.
As far as International offers are concerned, 31 students grabbed offers that were made from companies based in South East Asia, Thailand, South America and Africa. The highest International offer stood at $150,000, while the highest Domestic offer stood at 29 LPA.