The News Is:
The war for talent has done good for the fresher this time. To bring the creamy layer of the talent onboard, recruiters have almost vanished the difference between the term stipend and salary. Yes, if you are looking for summer internship then you would not just get ‘N’ number of options to explore and exhibit your talent but would also get a worthy return. The news is that there are companies, which have initiated ventures and are hiking, even doubling stipends at top B-schools & engineering colleges.
A spokesperson from young software startup company said talks about the war to compete with Google. She says, “There is a huge war for talent. Despite offering a lakh a month, it is yet to hire enough interns. Rs 1 lakh a month stipend helps in topof-the-mind recall…it helps when we compete with a Google to get students on board.”
Another renowned name from talent assessment and analytics platform provider talks about raised stipend amount from 50,000 (last years’) to 1-1.6 lakh (this year) by his company. He commented, “we do not get a lot of research-based talent and need them to work in talent assessment. The stipends therefore have to be similar to their salaries.”
Brand names like JPMorgan, American Express, Deloitte, and Citigroup amidst other have increased stipends by 10-15%. Plus, there are even startups & e-commerce companies like Foodpanda, Paytm and Snapdeal which are paying Rs 1 lakh for a two-month internship.
And as I said before, it’s not just the stipend the options too have doubled in numbers. Where Flipkart has taken up 300 interns which was 150 the previous year, there is Snapdeal too which has hire 60 interns where it was just 10 in the last year. Foodpanda too has doubled the number of interns to 50 this year and Paytm to 100 which was 40 last year.
Why is it so?
Earlier I had mentioned that this is because of the talent war. But that’s not all. It is a marketing strategy too. As Jombay’s Mohit Gundecha believes, “This is brand and marketing expense for us. We are not targeting students so they accept our pre-placement offers, but because we want them to talk about our company within their network.” So basically companies are not viewing high stipend as expenses but as investment.
How you need to prepare for your internship interview?
April and May is the time when companies visit campuses for recruitments. If your campus is yet to be visited by them, then be prepared for the interview with these tips:
- Be prepared: Keep your resume handy and prepare your formal suit for the day. Plus, make a list of the questions that you would want to ask the interviewer. Look up for some sample interview questions and practice answering those.
- First impression counts: Be prompt, be yourself, present good nonverbal behavior and maintain eye contact. These are few things I would want you to take care of to set the stage for successful interview.
- Talk about your skills & accomplishments: You do not have work experience, so what, you do have your accomplishments and volunteered work to talk about. You also have to portray your best of skills, like ones which you are good in.
- Give examples: Like numbers speak for themselves, even examples would talk for themselves. If you are talking about the skills in which you are good at, don’t forget to mention the example or a particular situation that backs it. And yes, if you got samples of your work, don’t forget to bring them with you.
- Focus on your positives: During the interview, you might be asked to talk about your weaknesses or strengths. In such type of question you just have to focus on your positive points. Even if you are talking about your weaknesses, don’t forget to mention how you recognized those, and what have you done to omit those.
Most common internship interview questions:
Here are ten common interview questions for internship candidates:
- Why do you want to intern here?
- Which classes do you like the most and least?
- What do you expect this position to be like?
- Why should we hire you?
- What’s your goal with this internship?
- Tell me about some of your school involvements and how they relate to this job.
- What are your salary expectations?
- What are your plans after graduation?
- Why did you pick your school?
- What do you know about this specific industry and what are some trends that occurred in the past few years?
That’s all guys, if there is anything else you need help with for your internship interview, just mention in the comments, and I’ll be there with an expert who can best help you with your query.