1. The "Front-End" Finance Surge at IIM Calcutta & SPJIMR

The ₹9.00 Lakh and ₹7.00 Lakh highest stipends aren't just for any finance role—they are specifically earmarked for Front-End Investment Banking and Global Markets.

• The Trend: We are seeing a shift where firms like Goldman Sachs and Avendus are looking for "Day-0" ready candidates who have cleared CFA Level 1 or 2 before even starting their MBA.

• SPJIMR's Edge: Their specialized "Finance" cohort allows students to deep-dive into FinTech and Product Management, explaining why their stipends are now rivaling the top IIMs.

2. The Consulting "War for Talent" at IIMB and IIML

At IIM Bangalore and Lucknow, the MBB (McKinsey, BCG, Bain) dominance remains unshaken.

• Strategic Shift: 2026 has seen a rise in Sustainability Consulting and Digital Transformation roles.

• The "Global" Factor: IIMB’s average is bolstered by international internships in offices like Dubai, Singapore, and London, where stipends are often paid in foreign currency, reflecting higher INR values.

3. XLRI’s Diversification: More than just HR

XLRI has successfully broken the "HR-only" stereotype.

• BFSI Dominance: Nearly 25-30% of the batch now bags internships in Investment Banking and VC firms.

• HR Evolution: The ₹3.34 Lakh average in HR is driven by "HR Analytics" and "Total Rewards" roles in tech-giants, which are now as technical as any data science role.

4. FMS Delhi: The Marketing Powerhouse

Don't let the lower "Highest Stipend" fool you. FMS remains the "Mecca of Marketing."

• FMCG Leadership: Brands like HUL, P&G, and ITC prefer FMS for their Sales & Marketing leadership programs.

• The ROI Logic: Because the academic fees are minimal, an FMS student essentially earns back their entire two-year tuition fee during these two months of internship.