The Truth about Summer Internship

As April begins, most of the MBAs have started their Summer Internships in different companies. Many have started working on their projects while some are still getting comfortable in the environment.

Recently, I spoke with few of my friends from Top Tier IIMs and other prominent B-schools in Delhi about their experience and which gave me an idea to write this article.

There are my shares of experiences, some are exactly contradictory, and some are common.

After talking with them I am putting this article in a format which is suitable for every MBA student to understand. They are just experiences so there is no need to generalize it, one may have a different experience.

So when you join a big MNC’s, the general trend goes as such:

1. First 2-3 days of internship is solely devoted to the introduction. Next 2-3 days go into arranging all the necessary stuff like your laptop, gadgets, etc. Next week is  gone in reading the processes and the latter 5 days are utilized for presentation, so
technically 12-15 days of your internship period is usually wasted.

2. In big MNCs, mentors are generally highly egoistical, they are surrounded by bootlickers, if you don’t pamper them, you are toast, and well there are some exceptions to these rules also.

3. Girls (especially good looking girls) get special mentoring every single day but the poor guy; nobody is really interested in what he is up to. In one of the biggest Foreign Investment Banks, top level guys (or mentors whatever) used to go out with the girls on dinner every night during their internship, but the poor boys were always left out.

4. Bigger the MNC, bigger the stipend.

So for small companies and Startups, the equation is different

1. There is no introduction. You have to bring your own laptop. Your work starts as soon as you join.

2. In small companies or startups, you are directly talking to the CEO, learning is huge.You get chance to select the project before internship starts, so there is a lot of flexibility.

3. Girls are not given any special treatment, no special mentoring for the girls.
4. Smaller and newer the company, lesser the stipend.

Some more peculiar observations

1. Good looking girls and Placecom members have no difficulty in getting placed.

2. Your stipend has nothing to with your quality of your learning/experience. Stipend is a measure of market value of the firm.

3. In small firms, mentors are generally better as compared to big MNCs.
4. Companies mention in PPTs that we give real time projects, but you should be very lucky to get one.

5. In big MNCs, intern has around 40-45 working days to impress the company people.
6. For the mentors the interns are a pain in the ass.

7. Summer internship is nothing but glorified title, it is nothing more.
8. When you are working in a startup, people don’t recognize the brand and some ignorant fool may still ask you “Beta, Infosys me nahi mila?

There are some funny and awkward incidences reported by some people.

1. A girl from top tier IIM got summer internship in Standard Chartered Singapore and during that period, she did nothing but print visiting cards.

2. In small companies or start-ups, people generally don’t waste their time in partying and all like big MNCs.

3. If you are placed in I-Banks, you are not given chance to trade live, either you are given a dummy account or you are not given anything.

For top tier B-schools, minimum stipend varies between 20/30k (startup and small companies) and maximum the stipend is generally given in I-banks/Management Consulting varies between 1.5/2 lac in Domestic Market an 4/4.5 lac in International Market.

But it comes for MNC’s and startups, I suggest one should always choose startups.

The learning and understanding in startups is huge compared to any MNC. And according to me learning in internships is more important than money. This experience and exposure of learning helps you in future and allows you with better options.

After all, where MNC represents rat race, startups are all about ideas.

P.S. : All the things mentioned in the post are not my view or opinions except last few sentences. Don’t hold me accountable if you don’t agree with this. These are the views of some of your college mates or batchmates.

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Sukrut is a passionate geek, internet visionary and a full time blogger, he has been teaching MBA students from the past two years, he is a chemical engineer by qualification,. Read my full story here

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