Interns’ pay in tech MNCs sees big jump

Interns’ pay in tech MNCs sees big jump

BENGALURU: Interns in tech companies receive attractive stipends, a real-world job experience, and they get a foot in the door to full-time employment. Glassdoor, a website that sources data from employees anonymously, shows the average monthly intern salary at Cisco India is Rs 49,324.
An Amazon software development engineering intern receives Rs 49,008, while Microsoft, Adobe and Google pay Rs 47,798, Rs 47,719 and Rs 46,963, respectively.
A Cisco spokesperson said they don’t disclose compensation details, but said they hire 600 interns a year in India and about 700 in the US. “Interns’ experience and conversion (into full-time roles) are two of the most important key performance indicators we focus on,” the spokesperson said. Last year, the conversion rate was over 70% in India.
Samsung R&D, Nvidia, Goldman Sachs, IBM, Texas Instruments and Oracle all pay over Rs 30,000.
Intern stipends depend on the institutions they come from and the qualifications they have. Data from consultancy firm Zinnov for MNC R&D centres shows a BE/BTech intern from a tier-1 institution got an average stipend of Rs 42,167 last year, while an intern from an established tier-2 institution received Rs 36,200. For those from emerging tier-2 institutions, it dropped to Rs 23,645, and for tier-3 to Rs 12,667. Those from tier-1 MBA institutions received an average of Rs 64,333. For tier-2 and 3 institutions, it dropped drastically to Rs 15,000.
Shubhra Bhandari, HR director for India at Texas Instruments, declined to share compensation data, but said the company onboarded 170 interns this year in India virtually. “Close to 65%- 70% of our fresh graduates are hired through our internship programmes. They are treated like full-time employees and are given the space to express themselves,” she said.
Amit Verma, senior director of HR at Nvidia India, said the firm hires over 150 interns in India across its engineering groups. “This represents 8% of our overall Indian team, with a 50% or higher conversion rate. More importantly, internship conversion comprises 80% of our college hiring, the latter being pivotal to our talent acquisition strategy in India,” he said.
Goldman Sachs pays engineering interns a little over Rs 36,000, but it offers summer intern analysts Rs 81,680 a month. “In 2020, overall 740 summer interns in India, aligned to a multitude of functions across several divisions, including investment banking, global markets and engineering, landed with internship opportunities,” it said.

TCS pays software engineering interns a salary in the range of Rs 16,000-50,000, depending on the colleges and which unit they are getting an internship into, sources said. The higher end of the salaries are for those in research and with hot skills in the areas of analytics and big data. Wipro said it offers internship opportunities to 100 candidates from premier B-schools every year. These candidates are offered a stipend of Rs 85,000 per month and close to 40% of them are offered a position with the company upon graduation.
Infosys didn’t share data on intern salaries, but Richard Lobo, HR head and EVP at Infosys, said all their interns get an opportunity to work on live projects and are mentored and guided by their managers and leaders.
Robert Bosch said it hires 300-400 interns in India every year and 75% of those get converted into job offers.
Anjali Rao, senior HR director at Intel India, said their intern talent pool comprises BTech, MTech, and PhD candidates and internship durations go up to one year. “The technology skills that we focus on include microelectronics and VLSI design, embedded, electrical and electronics engineering and information security,” she said. Mohammed Faraz Khan, principal at Zinnov, said there hasn’t been a significant change in stipends this year from 2019.
Source From : Times Of India

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