on Mar 27, 2024)In a mirrored image of the rising demand for expert engineers within the tech business, India has seen a rise within the variety of undergraduate engineering college students securing internships with month-to-month stipends of Rs 1 lakh or extra from biggies like Amazon, Google, Intuit India, Microsoft, Palo Alto and Goldman Sachs. These internships, which may final 3-6 months, are a golden ticket to full-time roles in high-demand fields like information science, cloud computing, and analytics.
At IIT Mandi, 27 college students have acquired Rs 1-lakh-or-more stipends this yr. In Bengaluru, RV Faculty of Engineering has seen 39 college students incomes over Rs 1 lakh in month-to-month stipends in comparison with 8 final yr. Vellore Institute of Know-how additionally stories roughly 30 college students with Rs 1-lakh stipends, with firms like Couchbase and Amazon providing Rs 1.2 lakh and Rs 1.1 lakh, respectively. The internship window is but to shut this yr for the ultimate rely.
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The competitors for these high-paying internships is fierce. V Samuel Rajkumar, director, profession growth centre at VIT, emphasised the significance of technical abilities, problem-solving skills, and a studying mindset for securing these alternatives.
Professor Ranganath D, RV Faculty of Engineering’s dean of placement, mentioned that firms comparable to Amazon, UiPath, and Microsoft have supplied stipends as much as Rs 1.4 lakh for numerous tech roles. Equally, Walmart, Goldman Sachs, and Palo Alto have supplied Rs 1-lakh stipends.
“The bar is excessive. About 39 college students have acquired internship stipends of Rs 1 lakh and extra who shall be graduating this yr. Campus gives from top-tier corporations are internship-driven that not solely provides them function publicity, however it offers a segway to engaged on newer applied sciences as these digital natives naturally lend to it,” the professor mentioned.
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Himani Sood, pro-chancellor at Chandigarh College, mentioned that firms like Atlassian, Uber, and Google have additionally supplied stipends of Rs 1 lakh. MIT-World Peace College in Pune mentioned cloud information administration Veritas Applied sciences has shortlisted 10 pc science college students for internships with a Rs 1-lakh stipend.
A majority of the scholars interning with these tech corporations have secured full-time positions. Sood identified a excessive conversion from internships to full-time positions, with high tech corporations in India providing annual compensation between Rs 40 lakh to Rs 65 lakh, and worldwide roles reaching as much as Rs 1 crore.
Naveen C, senior supervisor, coaching and placement in Bengaluru-based Reva College, mentioned {that a} pupil interning with Visa acquired a Rs 90,000 stipend and later a job provide of over Rs 50 lakh each year.
Final yr, VIT’s Rajkumar mentioned a related infrastructure and analytics firm, MotorQ, supplied a report annual compensation of Rs 1 crore to 2 VIT college students, together with inventory awards. Emails despatched to Amazon, Google, Microsoft, Palo Alto Networks, Goldman Sachs, Intuit India, UiPath, Uber and Atlassian did not elicit a response until the time of going to press.
