Mar 13, 2006
The $ 193,000 salary
There are not too many bloggers for whose blog posts one waits for, but when I read this story, I merely waited for Rashmi's post, so that I could link to it !
As usual, she's spot on ! The battle for the final placements has moved. The international i-banks and consulting firms have moved the battle to the summer placements.
Just a fact to remember, when students appear for their summer internship interviews they are merely 2-3 months into the B School program. So past academic and other performance becomes critical.
When I was in B School, there were a few companies who were considered "PPO material" (if you secure a summer internship with them, then there is a good chance of such a job offer being made after the internship). The star of the PPO (pre-placement offer) process was P&G. Once you secured a P&G summers, there was a good chance of you being offered a job. P&G also used to dangle nice carrots to help you make that decision easier. Once you sign out after the offer, P&G would pay the B-School's second year fees. (On an aside, I myself was offered a PPO by Satyam which I took up!)
I don't know what the process with major consultancies and i-banks are, but you can be sure that such incentives would be offered to offered candidates so that competition does not snap them up. Remember, these people have worked in the firms for 10 weeks and have probably been exposed to confidential data and plans. If not, then the person does not get back a "good reputation" of the organization to campus and that would influence the ranking of the firm on the campus.
Update: Interesting article on how you treat interns and how that can impact the employment brand.
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