Gaining experience, finding the right industry, developing skill sets and meeting the right people that might offer you a job after graduation – all this could eventuate from the right internship. A recent survey of graduates and employers by the Graduate Management Admission Council (GMAC) confirmed how important internships are for MBA students. 42 per cent of MBA and specialized master’s graduates said they gained work experience while at business school. Those who did an internship were 26 per cent more likely to have a job offer upon graduation compared to their classmates without the same experience. The survey also showed that the success rate of interns getting a job offer after graduation was especially high in the consulting and the high tech sector (70 per cent).
“The value of an internship can’t be underestimated – for both the employer and the employee”, said Michelle Sparkman-Renz, director of research communications at GMAC. “Whether or not a candidate has work experience, internships are effective in helping students realize their career ambitions. And in a hyper-competitive job market, an internship is a great way for a student to shine and get their résumé put on the top of the pile when applying for a full-time job at the company.”
Due to the financial crisis, some MBA students have changed their strategy and are trying to land a pre-MBA internship already. They hope to gather knowledge about a sector they wish to get into after graduation, but many also want to impress recruiters and gain a notch on their fellow students.