While Layoffs Continue, Amazon, Google & Microsoft Are Paying Rs 1 Lakh Stipend To Interns

On one hand, big tech giants such as Amazon, Google, Microsoft are already firing more employees after cost cutting related mass layoffs last year. On the other hand, they are paying lakhs of rupees as stipend to interns.

Amazon, Google & Microsoft Paying Rs 1 Lakh Stipend To Interns Amid Layoffs

amazon google microsoft stipend internship/getty

As per a recent ET report, the number of Indian undergraduate engineering students obtaining internships with monthly stipends of Rs 1 lakh or more from major corporations like Amazon, Google, Intuit India, Microsoft, Palo Alto, and Goldman Sachs is on the rise, which is indicative of the growing demand for qualified engineers in the tech industry. These three to six month internships are a great way to get a full-time job in a field that's in high demand, like analytics, cloud computing, and data science.

This year, stipends totaling Rs 1 lakh or more have been given to 27 students at IIT Mandi. 39 students at Bengaluru's RV College of Engineering are receiving monthly stipends of more than Rs 1 lakh, up from 8 the previous year. Additionally, according to Vellore Institute of Technology, 30 students receive stipends of Rs 1 lakh, while companies such as Couchbase and Amazon offer stipends of Rs 1.2 lakh and Rs 1.1 lakh, respectively. For the ultimate tally this year, the internship window is still open.

There is a lot of competition for these lucrative internships. The director of VIT's career development center, V Samuel Rajkumar, emphasized the value of having a learning mindset, problem-solving skills, and technical proficiency in order to secure these opportunities.

According to Professor Ranganath D, dean of placement at RV College of Engineering, several tech companies, including Microsoft, UiPath, and Amazon, have offered stipends of up to Rs 1.4 lakh for different roles. Palo Alto, Goldman Sachs, and Walmart have also contributed Rs 1 lakh stipends, as per ET report.

"The standards are high. Approximately 39 students who will graduate this year have been awarded internship stipends of at least Rs 1 lakh. Top-tier companies make campus offers that are centered around internships, which not only exposes students to roles but also gives them a jumpstart into working on newer technologies because these students are digital natives by nature," the professor said.

Pro-chancellor of Chandigarh University Himani Sood reported that stipends of Rs 1 lakh have also been offered by Atlassian, Uber, and Google. Ten computer science students have been selected for internships with a Rs 1-lakh stipend by cloud data management company Veritas Technologies, according to MIT-World Peace University in Pune.

Also Read: Mark Zuckerberg Explains Why Tech Layoffs Have Happened In 2024

Interns Go On To Get Rs 40 lakh- Rs 1 Crore Package

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Most of the students who are interning at these tech companies have found full-time jobs. According to Sood, there is a high rate of internships leading to full-time jobs; top tech companies in India pay between Rs 40 lakh and Rs 65 lakh annually, while international roles can pay up to Rs 1 crore.

According to Naveen C, senior manager of training and placement at Reva University in Bengaluru, a student interning with Visa was given a stipend of Rs 90,000 and subsequently received an offer of employment worth over Rs 50 lakh annually.

A connected infrastructure and analytics company called MotorQ offered two VIT students a record-breaking Rs 1 crore in annual compensation last year, along with stock awards, according to VIT's Rajkumar.

Also Read: What Are Ghost Jobs? All You Need To Know About The New Hiring Trend

Layoffs At Google,Amazon & Microsoft This Year

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Google has already laid off about 1,000 employees this year, after firing around 12,000 employees in 2023. On the other hand, Microsoft has fired 1900 employees in 2024. Amazon too has been busy conducting layoffs of hundreds of employees this year.

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