Internships "Pay" in Multiple Ways
College students who participate in an internship program can expect to reap multiple benefits from the experience-including a shot at a full-time job, according to according to a new study conducted by the National Association of Colleges and Employers (NACE).
Employers responding to NACE's 2007 Recruiting Benchmarks Survey reported that they offered full-time jobs to nearly two out of three of their interns. More than 70 percent of those offers were accepted; nearly half of the interns came on board as full-time hires. Overall, employers reported that nearly 31 percent of all their new college graduate hires from the Class of 2006 came from their own internship program.
"Employers see their internship programs as an effective way of identifying and connecting with talent," says Marilyn Mackes, NACE executive director. "These programs are a way for the employer and the intern to test each other to see if there is a good match."
Even if the internship doesn't result in a job offer, chances are good that the experience will enhance the student's chances of securing employment elsewhere. Although respondents reported that nearly 31 percent of their new college hires came from their own internship program, they also reported that 62 percent had internship experience.
"Employers prize relevant work experience even if the student served an internship with another organization," says Mackes.
Besides a potential job offer, internships can pay in other ways-including actual compensation.
Among employers who pay their interns, the average hourly wage to an intern
at the bachelor's degree level was $15.99. By field, those studying the
engineering disciplines averaged the highest pay-$17.12 per hour.
"In most cases, college students don't have to go further than their
own college campus to find employers with internships," said Mackes.
"Employers reported that on-campus recruiting, career fairs, and faculty
contacts were their most effective methods for finding interns. Students
can start by checking with their campus career center for information about
employers seeking interns."
The survey was sent to 1,212 employers holding NACE membership; 276, or 22.8 percent, responded to the portion of the survey covering internship and cooperative education programs. By sector, 42.4 percent represented manufacturing organizations, 46 percent were from service-sector organizations, 7.6 percent were government/nonprofit employers, and 4 percent could not be identified by sector. By region of the country, 26.4 percent were from the Midwest, 21 percent were from the Northeast, 34.8 percent were from the South, and 13.8 percent were from the West.
For more information about the survey, read the executive
summary or order
the full report.
