The Most Sought-After Paid Internships and How to Pursue Them

CareersMoney
Posted By Dave Landry Jr. on February 3, 2017 at 10:31 am
The Most Sought-After Paid Internships and How to Pursue Them

To our readers: Today GoodCall® examines internships and how they can work out for students First, writer Dave Landry Jr. identifies some of the “hot” places to get paid internships and their benefits. Later today, writer Terri Williams takes a look at unpaid internships and whether they’re good for participants.

…..

Vault.com’s list of the most prestigious companies to intern with in 2017 include — in order of preference — the top five of Google, Apple, Facebook, Goldman Sachs & Co., and Microsoft. Based on feedback from thousands of past and present interns who commented on corporations that have the most sought-after internships, the survey includes the top 20 internship programs.

As for the Vault.com list, Tesla Motors, J.P. Morgan, Nike, the Walt Disney Company, and Morgan Stanley round out the top 10.

While not everyone can intern at these industry behemoths, potential applicants shouldn’t let that stop them from interning elsewhere since college and university students can derive many benefits from interning.

Reasons to pursue internships

There are many reasons for students to pursue an internship – or perhaps even more than one – over the course of their academic careers at college or university. Benefits include the following:

  • They can get real-world expertise as they develop their skills.
  • They may be able to transition from an internship to a full-time job.
  • They can build up a network, find mentors, and pick up valuable professional references.
  • They can try out the sort of job they envision pursuing as a career someday.
  • They can bolster their resume — and impress employers — by showcasing their experience.

Choose an internship strategically

Asked about the best place to get a business internship, Adrienne Mazzone, president of TransMedia Group, a Boca Raton, Fla.-based public relations firm, says it could be as easy as figuring out where the student wants to intern, looking up the phone number, and placing a phone call.

“I suggest seeking companies you’d like to work at and cold call or walk in and simply ask,” she says. “If you are a rock star of an employee, chances are you’ll get hired.”

Getting an internship at the sort of company where students can see themselves working in the future is important because they’ll get experience that will be directly relevant to their career aspirations.

“As professionals that focus on careers on a daily basis, we see the impact internships have on career trajectories,” says James Phillip, managing director of JMJ Phillip Group, a Detroit-based executive search firm and career consultancy. “We also see how important it is to do internships at firms that are relevant to the field that individuals want to pursue long term.”

Paid internships pay off

Taking the initiative and interning at appropriate companies is important, but there is evidence that a student will be better off in the long run if he or she takes a paid internship over an unpaid internship.

According to the National Association of Colleges and Employers, students who accept paid internships or co-op placements have a greater likelihood to get full-time job offers and higher compensation packages from employers than students who accept unpaid internships or co-op placements. Specifically, the offer rate is 72.2% for students at paid internship or co-op placements at private, for-profit businesses versus 43.9% for students at unpaid internships or co-op placements at private, for-profit businesses.

Additionally, students who are pursuing one of the college majors that typically leads to high-paying job opportunities can get a taste for what those paychecks could one day look like by taking on a paid internship.

Internships matter — whether paid or unpaid. As for the best place to get a business internship, that really is up to the individual. Students should consider what they want to do after graduating, look for suitable businesses that offer internships, and then reach out and express their interest.

Dave Landry Jr.
Dave Landry Jr. is a personal finance manager, debt relief counselor, and blogger who writes about personal finance topics to help readers with money matters. Dave lives in Southern California with his wife and three children.

You May Also Like