The best-case scenario would be to have a paid internship in your chosen field, so you can build upon the skills necessary to position yourself for a full-time job offer. However, in some industries, such as the arts, advertising, media and entertainment, public relations (PR), nonprofit, and government, unpaid internships or those that pay only a stipend are standard. In down economies, even industries that formerly offered predominately paid internships offer unpaid internships. Unpaid internships require that you receive credit for the internship. Research the credit aspect in advance. Each school produces a form or letter on school letterhead that confirms the school’s approval in advance of you receiving credit for an internship. Some organizations do not check for proper credit authorization, but many do, so it’s best to sort out credit requirements before you start your search.
Paid internships can vary from minimum wage up to a summer salary commensurate with a full-time salary. Some companies pay according to your year in school, for example, some pay $10 per hour for a freshman, $12 per hour for a sophomore, $15 for a junior. The range is wide and varies by industry, size of company, role or functional area of intern, and geography, as illustrated in Table 1.6 "Internship Salary Differentiators".
|
Differentiating Factor |
How Salaries Differ |
|
Industry |
Private sector often pays more than public sector or nonprofit Banking, consulting, and technology often pay more than advertising, retail, or entertainment |
|
Size of company |
Big companies are more likely to have structured programs with higher pay (That said, sometimes small companies offer higher pay to stay competitive.) |
|
Role or functional area of intern |
Technical jobs (e.g., IT, engineering, graphic design) often pay more than other roles |
|
Geography |
Major metros often pay more than smaller geographies |
KEY TAKEAWAYS
- The larger the company, the more structured the internship program may be.
- Summer Internships last approximately ten weeks, roughly from late May or early June until early August.
- Other seasonal internships exist, but by far, the summer internship is the most popular. All should be explored, however.
EXERCISES
- Look up three or four summer internship job descriptions in your area of interest that recruit on campus at your school and determine if you would like to apply. Learn what you need to do to apply via on-campus recruiting. Be especially mindful of deadlines.
- Identify two or three summer internship job descriptions, in your area of interest, from companies that do not recruit at your school. Learn what you need to do to apply. Be especially mindful of deadlines.
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