Industry experience is often an important part of applying for a full-time job. Employers usually prefer applicants who have some experience working in positions that may be similar to the one they’re offering. If you’re new to a particular industry or are still in school, an internship may promote professional growth and help you determine whether your career path is the right fit for you.
In this article, we define an internship, explore its purpose, list some benefits, and answer commonly asked questions regarding internships.
What is an internship?
An internship is a temporary job role often related to one’s academic field or career interests. It can offer a beginner in a career field practical experience within a professional role. Internships are usually useful to college students and recent graduates, as many internship programs provide college credit rather than an hourly pay rate. Internships may also offer individuals insight into an industry’s culture and daily operations, assist a young professional with completing a degree, or provide an income while a student earns their degree.
What is the purpose of an internship for a company?
A business or company may decide to create and implement an internship program to help them identify future employees or expand their talent management strategies. Some other reasons a company may use an internship program include:
Increasing brand awareness among local colleges or communities
Improving productivity and time management for full-time employees, as interns often complete smaller tasks.
Lowering labor costs since internships sometimes offer college credit instead of pay
Expanding a company’s viewpoint and creativity since interns can provide opinions outside of the organizational culture
Maintaining involvement in the community and helping students begin their career paths
What is the purpose of an internship for a professional?
Here are a few reasons why an individual might decide to apply for an internship:
Gain experience: Job listings often state that they prefer candidates with educational and job experience. If you’re new to the workforce or attending school, you may consider looking for an internship to gain the experience required for most entry-level positions.
Identify career goals: An internship can give you an authentic experience in a job role by providing you with an introductory experience to a career path, its duties and daily operations. If you enjoy your internship, this might indicate that your career is on the right path.
Strengthen a resume: Internships can give you workplace experience before you actually enter the workforce. They also may assist you with developing additional skills to list on your resume, which can emphasize your value as a candidate.
Attain college credits: Some internship opportunities may offer you college credit for your time as an intern. An internship that offers you both college credit and experience can be ideal for those who are looking to graduate with work experience.
Benefits of an internship
Here are a few benefits of pursuing an internship as a young professional:
Experience different work environments
If you have an interest in multiple industries, pursuing an internship may be a great way for you to narrow your focus and determine which career path applies to your skills and goals. Since internships usually require around eight weeks to complete, you can often apply for other internships or use the experience from previous internships to decide whether your current career path is right for you.
Develop new skills
Internships also often allow you to gain feedback from employers or mentors who already have experience in your desired industry. An internship can provide unique opportunities for learning outside of academic settings. It can expose you to new tasks and help you learn goal-specific skills to complete those tasks. Internships also give you experience with technology, people and projects that may relate to your career goals. Having a willingness to learn may help you optimize your internship experience.
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Network with professionals
Interns often work with many professionals who have varying skills and experience levels. Internships can provide you with an opportunity to meet new people who might be future colleagues or mentors. Networking with and learning from full-time professionals during your internship can also result in job opportunities.
Job opportunities
Various businesses use internships as a talent acquisition strategy since these programs allow managers and human resources employees to monitor an intern’s workplace behaviors and productivity. Business managers or owners can then determine whether an intern is a suitable candidate for a permanent role in the company. Companies often hire interns as full-time employees at the end of their internships.
What is the difference between an internship, cooperative education (co-op), and research experience?
The difference between an internship, cooperative education, and research experience are given as below:
Internships are supervised, structured learning experiences in a professional setting that allow you to gain valuable work experience in a student’s chosen field of study. Internships require a minimum of 120 hours (typically, at least 10 hours per week during the fall and spring and either part-time or full-time during the summer).
Co-ops are paid positions that require students to alternate semesters between full-time work during the academic term and full-time academic study for at least two semesters. Students are often, but not always, offered full-time employment with the organization upon graduation. Co-ops are not common at UMBC, but there are students who are interested in them as applied learning experiences. If you are interested in a co-op, we recommend speaking with one of our staff to develop a structure for the experience that will be the most workable for our students.
Research opportunities are available both on- and off-campus. These experiences offer a unique way to better understand a student’s academic interests and consider how graduate school may play a role in future paths. Funding may be available for these experiences through organizations like the National Science Foundation (NSF).
Do Internships Paid?
Whether you receive a paycheck as an intern depends on your employer. Interns aren’t considered employees under the Fair Labor Standards Act, so employers do not have to pay them. Some companies offer college credit in lieu of a wage; other internships provide both financial and academic compensation. Interns generally don’t receive job benefits like retirement contributions or health insurance.
Industries like fashion and entertainment are more likely to hire unpaid interns, while other sectors, such as finance and tech, typically pay their interns. Unpaid internships can create disadvantages for people who don’t have the means to take on unpaid labor, especially in industries that require interns to temporarily relocate to expensive hubs like Los Angeles or New York City.
If completing an unpaid internship isn’t feasible, reach out to your school’s career center. Some colleges offer stipend programs to supplement unpaid and low-paying internships.
Do Internships Provide College Credit?
Depending on your employer and your school’s policies, you may earn academic credit for your internship. In fact, some companies only hire unpaid interns who can earn college credits for their internship experience.
Some degree programs may require internships as part of their curricula. Others allow students to complete internships in exchange for elective credits.
Discuss your plans with an academic advisor or a department chair to determine how an internship can integrate into your degree. Once they approve your request, you can enroll in an internship course to receive credit for your labor. Some schools monitor interns’ learning experience by asking them to complete work logs, assignments or evaluations with a supervisor.
Do You Need an Internship to Graduate?
Some degrees require an internship to graduate; others may only recommend internship experience. Depending on your program’s policies, your professors or advisor can help you narrow your interests and find an opportunity that counts toward your degree.
If you are an online student, remote internships are still possible, though they may look a bit different. Some online programs eliminate internship requirements, while others allow students to gain relevant experience at a nearby organization. In some cases, you may need to temporarily relocate near your online school’s campus to complete an internship there.
Do You Need an Internship to Get a Job?
Though employers may not expressly ask for internship experience in a job posting, having it on your résumé demonstrates practical, relevant skills and can make you stand out in the application process.
In a survey of four-year college students, paid interns landed an average of 1.61 job offers, compared to 0.77 offers for students without internship experience, according to a 2022 NACE report.
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NACE data also shows that employers rank internship experience among the most important factors they consider when choosing a candidate—second only to the candidate’s academic major. NACE found that when comparing two equally qualified candidates, employers preferred the applicant who had interned at their organization
When Is the Best Time To Complete an Internship?
Undergraduates commonly complete internships in the summer before their senior year or during their final semester. Summer internships are often more convenient, as student don’t have to balance schoolwork with new professional responsibilities.
Hopeful interns should start looking for jobs in the fall. Employers recruit 70% of interns in the fall, according to NACE. Starting the search early gives candidates more time to assess their options, interview and find the right fit.
How do I Get an Internship?
After a lull due to the Covid-19 pandemic, about half of employers planned to increase intern hiring, a NACE study found. Overall, respondents planned to increase intern hiring by 9.1% in the 2022-23 school year compared to the previous year.
Still, the internship search can feel overwhelming, especially for first-timers. The following steps can help you make the most of it:
Identify your goals. What would you like to learn more about? Do you need this internship to count for credit? How many hours per week can you take on? Start narrowing your search to meet your criteria.
Use your resources. In addition to searching online job postings, see if your career center has a job board. Ask your department head or professors if they have any connections or recommendations.
Prepare and submit your application materials.
Polish your résumé and draft a cover letter. The cover letter should explain your qualifications and your interest in the role. You may also need to submit references or letters of recommendation.
Interview. Do your research before your interview date. Read about the company’s values and history and make a list of questions you want to ask about the position. Practice answering common interview questions out loud.
Follow up. After meeting your potential employer, follow up with an email or note thanking them for their time, which can leave a positive impression.