Hi,

Summer placements are primarily for the internship duration once you finish your 1st year. This is around a 3 month period. You get a stipend for this duration. It has ranged upto a few lakhs as well. Final placements are for full time offers.

Final placements are far better than summer placements. There are a lot more companies and a lot more offers made by companies. Summer placements are more biased towards candidates from top schools in India such as the IITs, NITs, BITS, SRCC, etc. Most of the best offers go to such candidates. Many of the companies prefer to take candidates with relevant experience as well. The final placements are like the great equalizer. Some of the best candidates would have already got offers via PPOs. The companies which come during summer placements also prefer to come during final placement to recruit more number of candidates.

Stipends offered in summer placements are usually lower than the salaries offered during final placements for the full time offers. And yes. Most of the companies visit twice. For interns and for full time employees. Some candidates convert the internships to pre placement offers.

Hope it helps.