Debtosh Mishra’s two-month stint as an intern at a major bank last summer opened his eyes. The management student suddenly understood the meaning of experience.

“We learn so many theories and formulas in the classroom but when we enter the field, we find that it’s a different world altogether,” says the final-year postgraduate diploma in management (PGDM) student at the Indian Institute of Management, Calcutta (IIM-C).

As an intern with Citibank, Mishra may have hoped to make an immediate impression with his fresh ideas. What he learnt there, however, was quite a revelation — an experience that he would remember all his life. “I worked with people who had spent 15-20 years in the field and every time I suggested an idea in response to a particular situation, their take on it was totally different from mine. Their views were more rounded and comprehensive,” says Mishra.

Today, internships for students have become as important as the subjects they study. In fact, in areas such as business management, media and communication, fashion and hospitality management, an internship is mandatory for a final degree. The biggest companies for internship in India are the software giants such as Infosys, Wipro and Satyam, but these are mostly accessible to students with science and engineering backgrounds, especially the computer-related streams.

At top management institutes such as the IIMs, more than one-third of the students get job offers from the companies they have interned with. In institutes such as the S.P. Jain Institute of Management and Research (SPJIMR), Mumbai, the figure is as high as 50 per cent.

A good internship stint helps in campus interviews too. Debojit Mukhopadhyay, who interned with Nokia and Jaya Shree Textiles, an Aditya Birla Nuvo Ltd company, stands testimony to this. “I could get a job easily through campus placement because the recruiters were impressed with the work I had done as an intern with these two companies,” says Mukhopadhyay, currently a relationship manager at ICICI Securities.

Recruiters sometimes focus more on internships than the institute a student graduates from. Mukhopadhyay, for instance, did an MBA from the relatively new Meghnad Saha Institute of Technology in Calcutta, which was set up in 2001.

No matter what the ranking of your MBA institute is, if your internship stint is impressive it is bound make an impact. Moreover, the confidence you gain is invaluable,” he says.

The internship recruitment process is a competitive one in top business schools. Leading companies seek to scoop up the best of the lot. For instance, during the summer placement season at IIM Indore this year, there were 236 offers from 62 companies for a batch of 185 students.

At most B-schools, students are recruited on the basis of their academic performance, group discussion and interviews. But a few companies give students the option of generating their own internship projects. Either way, an internship lasts eight to 10 weeks.

More than the reputation of the company, it is the quality of work done as an intern that matters. Top B-schools go to great lengths to ensure this. “The role and job profile offered by the company are an important consideration; they must match the interests of the participant. The preferred roles are those in middle management,” says Abbas Ali Gabula, chairperson of external relations at SPJIMR.

“While choosing a company, we look at its brand name, the profiles it offers, the seriousness with which it takes an internship and other factors,” says Ramesh Bhat, dean, MBA, Narsee Monjee Institute of Management Studies (NMIMS), Mumbai.

Companies, too, have their own parameters for choosing students. For instance, the Delhi-based Optima Insurance Brokers Pvt. Ltd looks for students with a desire to work in the field of insurance and good communication skills, since the work entails selling insurance policies and customer service. “Around 20 students intern with us every year and more than 10 get absorbed,” says Rahul Aggarwal, CEO of Optima Insurance.

Most companies set high standards while deciding on interns. “We select students with a strong academic background. There are two rounds of interviews, the final one being with the management of the organisation,” says Romit Dasgupta, director at the Globsyn Group, Calcutta.

It is not only students who benefit from internships. Companies, too, gain from their contribution. “Our students have done various projects that have helped companies increase their revenues and process improvements leading to cost savings,” says Bhat. Of course, the students are generally paid for their work, and the money is certainly a motivation.

“Don’t take up an internship just for the heck of it. Negotiate with the company about the projects you will be working on. Opt for a company that you feel will keep you on your toes rather than one that will make your life easy,” advises Deepak Jalan, managing director of Linc Pen and Plastics Ltd, Calcutta.

Another area where an internship plays an important role is the media. “My internship lasted only a fortnight, but the buzz of the newsroom convinced me of the fitness of my decision,” says Jai Narayan Ram, a New Delhi-based copy editor who interned with a leading news daily.

As for students of hotel management, an internship is much like the real job. “The stint shapes our career in many ways. We experience the actual situation awaiting us,” says Dhruv Khanna, a hospitality management graduate who interned with the Hyatt Regency in New Delhi.

No wonder, as Jalan says, internship is the period when “boys become men”.

On the job

A few tips on internship

1) Take your internship seriously; it is as important as the degree itself.

2) Choose a company that offers a good job profile.

3) Do some background research on the company; go for an organisation that takes interns seriously.

4) Make a difference to the organisation; come up with innovative ideas.

5) A stipend is an attraction, but the money shouldn’t be the sole criterion for making a decision.

6) If you are not happy, look for an option other than the one offered.