What should students look for in an internship?
While the jobs students will be asked to perform, are often similar, not all internships are equal. If you are fortunate enough to secure an internship with a Fortune 100 company, this can undoubtedly serve as a conversation starter at all of your job interviews. For those of you who don't know, the Fortune 100 is simply a listing of the top 100 companies in the world today.
There are many reasons that an internship with a Fortune 100 company is particularly attractive to employers. To begin with, many top companies are large enough to place an intern in a position where he/she will receive experience that is directly related to his/her field of study. This is especially helpful to finance students, who instead of fetching coffee or delivering mail, may work directly for executives with connections in the financial community.
It is easy enough to remove yourself from the reality of the marketplace when you are locked away in a classroom all day. This is one of the reasons why internships are so important. A good internship will also give a student an idea of whether or not he/she is in the right field. After a tough summer of working for a Fortune 100 company in the finance division, a student may decide that business is not for him or her.
Some of the top companies have summer internship programs that include lectures from top executives and weekly classes taught by industry professionals. Students usually take copious notes and discuss what they learned with other interns. It is a once in a lifetime opportunity if you are fortunate enough to qualify for one of these programs. But before you pack your bags, you should know that hundreds of students apply for internships with the top companies each summer, and only a precious few are chosen.
Another obvious reason that Fortune 100 internships are so prized is because applicants know that if they perform well, they will get their proverbial foot in the door. They know this because most companies clearly state that internships are an indispensable part of their recruitment process. An intern who does his/her assigned jobs, makes connections, and proves himself to be a team player is very likely to be offered at least an entry-level position after he graduates. In fact, many former interns return to the companies they interned for as undergraduates after they receive their MBAs.
Because internship positions at any of the top companies are extremely competitive, it is best to start applying in the early spring. Though the directors are primarily looking for good grades, it is always best to let them know your story. It is important to get personal and tell them what sets you apart from the hundreds of other applicants. If you have hobbies or participate in extracurricular actives that involve team work or that provide leadership experience, this might give you just the leg up you need.
The right internship will not only provide you with great experience, but may also go a long way in securing you your first job after college. So do your research and apply several weeks before the deadline.
