More Students Interning This Summer, Says New Vault Survey
Students appreciate just how significant internship experience is, as 82% said completing an internship is "extremely important" for future career success; 17% of students said internships are "somewhat important," and only 1% said internships are not important.
One survey respondent stated, "...my internship experiences have resulted in networking contacts and deliverables that I can show a potential employer to demonstrate my work."
Vault's 2006 Internship Survey was conducted in early April and is comprised of 568 responses from college students across the U.S.
Many students are completing multiple internships during their college careers in order to gain an advantage in this competitive job market. In fact, 53% of students have or will have completed two or more internships by the summer after graduation. Many students, 31%, have or will have completed one internship, and 16% of students say they have not completed and will not complete an internship during their college careers.
Finance remains a popular industry among student interns, with 31% of survey respondents saying they've interned in this competitive and lucrative field. Other popular industries for interns include management and consulting, science and technology and law. Companies are also continuing the trend of offering paid internships, making it possible for more students to take advantage of internship opportunities; 64% of students have been paid for their internships. Survey respondents cited figures from "$10/hr" to "$2600/week for 10 weeks" and perks such as travel reimbursement, concert and sporting event tickets, free lunches and a company car.
College career centers and on-campus recruiting are more popular than ever for students seeking internships; 43% of survey respondents find positions this way. Other methods include: networking/through connections (28%), job postings (20%) and cold calling (9%). Finding the right internship can be crucial, however, as 64% of students have been offered full-time work from the companies they've interned with.
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