The competition for entry-level jobs is becoming tougher by the year, forcing students to find new ways to set themselves apart from the highly talented, skilled, and qualified candidates. In fact, a recent study by StuDocu shows that 64% of US students fear career and employment setbacks. Recent graduates who are fortunate enough to enter the job market and get relevant work experience early on are typically preferred by employers in almost any field. Internship statistics reveal that such experience is more important for career success than a GPA and other academic records.
As a growing number of students and recent college graduates look for internship opportunities, companies have started building well-structured and often generous internship programs. Although studies show that internship experience usually leads to quicker and more lucrative full-time job offers, starting your career with an internship is not all roses. Check out our list of internship facts and stats to learn more about the advantages and disadvantages of these programs.
One of the things that separates students who manage to find a well-paying job relatively quickly upon graduation from those who end up underemployed or unemployed is whether they’ve done internships. While it’s not a secret that interning comes with educational, networking, and financial benefits, many undergraduates are unsure about how many internships they should do and when to start applying for this type of work experience.
(National Association of Colleges and Employers)
(Chegg)
(Chegg)
(Chegg)
(Chegg)
Some of the key benefits offered by internships include an opportunity to get insight into the way businesses operate, a chance to get valuable work experience, and the possibility to apply the concepts and strategies you’ve learned about during your studies. However, certain industries, companies, and professions require you to complete internships to develop your skills in a particular field. Here are some statistics about such internship opportunities.
(Chegg)
(Chegg)
(PwC)
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(Chegg)
As competition for graduate jobs increases, students are forced to come up with more innovative ways to stand out from the crowd. It’s no secret that new graduates with relevant work experience tend to draw employers’ attention. That’s why internships aren’t just an interesting prospect but are considered a must-have experience for college students.
(National Association of Colleges and Employers)
(National Association of Colleges and Employers)
(National Association of Colleges and Employers)
(The Conversation)
(Burning Glass Technologies)
In terms of experience, internships are invaluable. However, they hardly have a reputation for being lucrative. Many jobs of this type are unpaid, and some employers even require students to temporarily relocate, requiring them to use any income they earn to cover housing expenses.
(Center for Research on College-Workforce Transition)
(Center for Research on College-Workforce Transition)
(Center for Research on College-Workforce Transition)
(Center for Research on College-Workforce Transition)
However, that’s not always the case. Some organizations pay college interns twice what regular workers earn. Here’s an overview of some of the highest-paying internships offered by American companies:
(Glassdoor)
(Glassdoor)
(Glassdoor)
(Glassdoor)
(Glassdoor)
(Glassdoor)
(Glassdoor)
(Glassdoor)
The COVID-19 health crisis has impacted all of us, but those just beginning their careers may have been hit the hardest, with employers hiring fewer interns. In addition, many internship jobs were canceled. As a result, students around the world have been forced to reconsider their career plans.
(CareerUp)
(CareerUp)
(CareerUp)
(CareerUp)
(CareerUp)
According to 32.7% of the survey respondents, the importance of internships hasn’t changed due to the impact of the pandemic.
(CareerUp)
Most of those who found this idea appealing said that they would take time off from college to get a job, find an internship, or take online courses.
Do you get paid for internships? There isn’t a simple answer to this question. While many internship roles, especially those offered by non-profit organizations or government agencies, don’t offer salaries, there are internship opportunities where you can get paid even more than what regular workers earn. The list of companies with the highest-paying internships includes Facebook, Amazon, Salesforce, Google, Microsoft, J.P. Morgan, and Bank of America.
Since 2013, more than half (60%) of students in each graduating class did an internship and/or co-op during their time in college.
No, they are not. While most people intern during their college years, internship statistics reveal that such opportunities to work and learn are also offered to high school students, new graduates, and those who have completed their degrees several years ago. Career changers and returnees to the workforce can also benefit from internship opportunities.
Approximately 70% of employers offer their interns full-time jobs, and up to 80% of students accept the offers.
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