Apr 6, 2023
Employers Planning to Hire 9.1% More Interns for Summer 2023 Programs
BETHLEHEM, PA—Employers expect to increase their intern hiring by 9.1% for the 2022-23 academic year over the previous year, according to results of a new survey conducted by the National Association of Colleges and Employers (NACE).
“The data in NACE’s 2023 Internship & Co-op Report underscores the value employers place on their internship programs and their commitment to them. In fact, in a recent NACE quick poll, four out of five employers said their internship program provided the best return on investment as a recruiting strategy, giving them the best means for identifying and building relationships with potential employees,” explains Shawn VanDerziel, NACE executive director.
“Internship programs are typically run over the summer months, with many students returning to campus with a job offer in hand for when they graduate.”
The current increase outpaces intern hiring projections employers made pre-pandemic, but is below last year’s projection. (See Figure 1.)
“Last year was a return to ‘normal’ after two years of reduced intern hiring,” notes VanDerziel. “Our current projection is a sign of the increasing popularity of internships.”
Nearly 52% of responding employers reported plans to increase intern hiring this year, while more than one-third said they expect to hire about the same number of interns. Approximately 13% of respondents are cutting back on interns.
Regardless of what their plans are, they are driven largely by their organization’s needs, according to nearly all respondents. More than one-quarter (28.5%) also cited the state of the market and economy as factoring into their plans; approximately 12% also cited the potential for inflation as contributing to their plans.
About NACE’s 2023 Internship & Co-op Report: The 2023 Internship & Co-op Survey Report explores key aspects of employers’ internship and co-op programs, including hiring projections, conversion, retention, compensation (wages and benefits), recruiting strategies, and program structure. This report provides projections for internship and co-op programs for the 2022-23 academic year, but the bulk of the information presented represent data gathered from 2021-22 internship and co-op programs. Historical data are also provided to indicate trends. Data were collected from November 9, 2022, to December 31, 2022. There were 221 NACE member respondents, representing 25.1% of eligible member respondents. The Internship & Co-op Survey was also distributed to nonmember companies from which an additional 68 responses were received. An executive summary is available on NACEWeb.
About the National Association of Colleges and Employers: Established in 1956, the National Association of Colleges and Employers (NACE) is the only professional association in the United States that connects nearly 11,000 college career services professionals, more than 3,600 university relations and recruiting professionals, and more than 400 business solution providers that serve this community.
NACE is the premier source of market research on career readiness and employment of recent college graduates. NACE forecasts hiring and trends in the job market; tracks salaries, recruiting and hiring practices, and student attitudes and outcomes; and identifies best practices and benchmarks.
NACE offers its members unparalleled research, networking and professional development opportunities, guidance on standards and ethics, and advocacy on key issues. For more information, visit www.naceweb.org. NACE maintains a virtual press room for the media.