A PGDM internship gives the student real world experience. It's not the same as the theory you pick up in the classroom and it gives you a real insight into how decisions are actually made in an organisation. Most recruiters will look at internship experience as a huge plus and will invariably ask about it in the placement interview.
In this blog you will learn about the importance of a startup internship, the benefits of it, how to go about finding one and how it can be of help to you during your placements. At Dr. D. Y. Patil B-School, we offer PGDM programmes with different specialization and PGDM internship opportunities to students which will help you achieve your career goals in the future.
Why should students consider PGDM internships?
Many PGDM students aim for a big corporate internship, but a startup can offer a very different, equally worthwhile experience. Startups are small, they move very quickly and they are open to new ideas. As an intern you're not a spectator. You're in the team from day one.
Here is why a startup PGDM internship is worth considering:
- Real responsibility: you could be working on live projects, live customers or live campaigns right from the outset.
- Learning across functions: Small teams means you see marketing, sales, finance and ops all working together.
- Direct access to the leaders: The founders and the senior managers are all around you so you can learn very quickly.
- Faster growth: You get feedback much quicker and can demonstrate your results in a relatively short space of time.
What makes a PGDM internship suitable for startups?
A PGDM internship at a startup is an excellent opportunity for the students looking for some hands-on experience, exposure to a variety of business functions and the chance to actually be involved in solving business problems. The startup environment is quite different to that of a large organization and can offer a lot more responsibility and the opportunity to have a real impact on the business. A good startup internship will have clearly defined projects with a real learning element, regular mentoring and tangible deliverables. A marketing internship can give you the opportunity to work on actual digital campaigns, customer acquisition and brand building. A finance internship can give you exposure to budgeting, financial planning and analysis and business analysis.
HR internships involve employer branding, employee engagement and recruitment. Business Analytics internships can involve market research, metric analysis and assisting in the decision making process. Before entering any PGDM internship, students should look at the business model, the culture of the company, the learning opportunities and the relevance of the responsibilities to their specialisation before taking on a startup internship. The student can come out of the experience with a whole range of skills developed including greater adaptability, innovation and communication skills which will be of use in a startup as well as in a more established organisation.
What are the benefits of a PGDM internship for career growth?
A PGDM internship does so much more than just go on your resume. It builds the very skills and confidence that employers look for in a management graduate.
- Practical skills: You take the theory you've learned in the classroom and apply it to real tasks such as market research, budgeting or data analysis.
- Industry understanding: You learn how the industry works, who the players are and what the customers want.
- Professional network: You meet managers and peers who can advise you and/or recommend you later on.
- Career clarity: You find out whether a function or industry is actually right for you before you go down a specialist route.
- A better CV: Actual projects and tangible results give you strong stories to tell in an interview.
These benefits remain with you long after the internship is over.
How to find the best PGDM internship opportunities for students?
Finding the right PGDM internship takes planning. Start early and use more than one route:
- Your institute's placement cell will of course be sharing the various company tie-ups and internship opportunities.
- Faculty and alumni can introduce you to companies and give you some very honest advice.
- Job and internship platforms: LinkedIn and Internshala are the obvious ones with vacancies listed across all sorts of industries.
- Startups: you can find them via events, networking groups and social media.
- Direct outreach: send a short clear email to the companies you like and explain how you can help.
Keep your CV and LinkedIn profile up to date and tailor each application to the specific role. A targeted application is far more likely to stand out than a generic one.
Which PGDM internship is best for students specializing in Marketing, Finance, HR and Business Analytics?
The best PGDM internship for a student is going to be one that is relevant to their specialisation, their career aspirations and their professional interests. A management student might look at digital marketing, brand management, market research, sales and so on to get a feel for client behaviour and client strategy. A finance student would look at financial analysis, investment research, banking, accounting and risk management. An HR student would look at talent acquisition, employee engagement, learning and development and so on.
On the flip side Business Analytics students can go into data analysis, business intelligence, market forecasting and reporting. The right specialism will allow you to take your academic knowledge and apply it in a professional context, develop the relevant skills and build your network. You should look at the projects, the mentors and the exposure that the internship will provide and consider how that fits with your own career aspirations.
Are PGDM internships paid? That's the question that comes up quite a bit. The short answer is that they are often paid, but not always. A lot of the internships will be on a stipend basis. The stipend is usually quite modest, typically in the region of Rs 5000-8000 per month. This is work experience that you're getting in return for your time and effort.
It varies from company to company and role to role. Some PGDM internships will give you a monthly stipend, some will be completely unpaid and others will just give you a certificate and the learning experience. The stipend, if there is one, will vary by industry, city, role and the size of the company.
Early in your career the quality of learning is far more important than the quantity. A good voluntary internship with good mentoring is going to be far more useful than a paid one where you're doing very little in reality. Before you take any offer:
- Ask for the offer in writing, with the duration, role, and stipend (if any)
- Check what projects you will handle
- Confirm who your mentor will be
- Never pay a fee to get an internship, as this is a common warning sign of a scam
How does a PGDM internship help students get placement opportunities?
A PGDM internship is one of the most significant bridges between your studies and your first job. Here's how it helps with placement:
- Pre-placement offers: Companies can of course offer you a full time role if you do well as an intern.
- Better interviews: you can use real examples and real results rather than just theory.
- Clear career choices: you apply for jobs that are in line with your strengths and your interests.
- References and contacts: Supervisors can put you in touch with their network.
- Proven skills: recruiters will trust a candidate who has already been in the business.
Conclusion
A PGDM internship is all about turning knowledge into action. It builds your skillset, expands your network, helps you work out what you want to do in your career and improves your prospects of getting a good job. The student decides whether they want to go into a startup or a multi-national company. The main thing to look at in making that choice would be the scope of opportunity, the level of mentoring and the quality of the learning curve.
The onus is on the student to get started early, make use of the resources available to them (the institute network and support in particular) and be diligent and determined in their approach to the programme. At Dr. D.Y. Patil B-School, learning by doing is at the very heart of management education and the student comes out of the programme as a work ready manager. So apply now and take the first step towards a successful career in management.
Frequently Asked Questions
- Is an internship a compulsory requirement for PGDM students?
In the majority of PGDM programmes an internship is a requirement and you're expected to do it during your summer vacation after year one. Hence it's advisable to check with your institute's placement cell.
- How can PGDM students find internship opportunities?
Students can start by going to their own placement cell, speaking to faculty and alumni. They can also apply via the various online portals (LinkedIn, Internshala etc), attend startup events and simply email the companies.
- Which internship is best for PGDM students?
It will depend on the student's area of interest. A student interested in marketing could be looking at digital marketing or sales internships. Finance students could look at financial analyst internships. HR students could look at talent acquisition internships and analytics students at data analysis internships.
- Do PGDM interns get paid?
It will vary from company to company and from domain to domain. In some cases the stipend will be location dependent. Students should always clarify all of these details prior to commencing an internship. There may be internships that don't provide a stipend at all but which will still provide a great deal of learning and mentorship and/or issue a certificate upon completion. It's always best to get all the details in writing before you start the internship.
- Can a PGDM Internship Lead to a Full-Time Job?
Yes, many companies offer pre-placement offers to deserving candidates. Even if the company doesn't offer a full-time job, the internship can still strengthen your resume and provide valuable insight and experience for future interviews.