How to Land a Business Internship
Published on June 7, 2021
- Business internships can be a first step in establishing a career in the industry.
- Many top corporations offer well-established internship programs.
- Most business schools have resources to assist students in securing internships.
Business internships give students the opportunity to gain hands-on experience and make valuable industry connections, beyond what can be achieved through school alone. Since the 1960s, internships have become a formal part of the business hiring process. Now, internships are an essential tool to help college students launch their careers.
Many successful business executives got their start as interns, including Neil Blumenthal (Warby Parker co-founder), Elon Musk (Tesla Motors founder), Jon Oringer (Shutterstock CEO), Evan Spiegel (Snapchat founder and CEO), and Kevin Systrom (Instagram CEO).
A 2017 survey of college graduates conducted by the National Association of Colleges and Employers (NACE) reported that close to 60% of respondents interned while pursuing their degree. NACE also reported in 2019 that more than 70% of interns were offered a job, with 4 in 5 accepting the offer.
According to a 2017 survey of college graduates, close to 60% of respondents interned while pursuing their degree.
In today's competitive job market, students need an edge. A bachelor's degree and a high GPA are often just the minimum requirements to land an interview. Even when recruiting for entry-level jobs, employers want to see the work-related experience and industry knowledge, all of which a business internship can provide you.
Internships for Business Majors Offer Clear Benefits
For college students planning to pursue a career in business, here are some of the main benefits you can expect to receive from participating in an internship:
Most Top Corporations Host Business Internships
The majority of medium-to-large-sized businesses offer business internships for college students. From Fortune 500 corporations to startups, companies rely on a steady pool of interns to keep the wheels in motion.
Many high-profile companies receive thousands of internship applications each year, and only a small percentage are accepted. If you can't land a business internship at a large corporation, small businesses are typically less competitive and may provide you with the opportunity to get more out of your experience.
High-Profile Companies With Business Internships
Summer is a popular time for internships. The 2020 intern class at Goldman Sachs, for example, included more than 2,700 summer analysts and 129 summer associates, representing 54 majors from nearly 500 universities.
Although many programs were put on hold this past year due to the COVID-19 pandemic, some companies now offer remote business internships or have already reopened their in-person programs, albeit in a more limited capacity.
Other businesses have adopted a hybrid internship model in which students work on location a few days a week and virtually the rest of the time.
Applying for a Business Internship
Businesses normally work in cooperation with colleges and universities to set the guidelines for their internship programs. While most internships are available to those currently enrolled at a four-year accredited university, some are only offered to students enrolled in MBA programs.
Typically, all internships must initially be approved by the career services office or an academic department before being considered for academic credit. Business internships generally require the following from applicants:
Each company maintains its own application process and deadline for submissions, so be sure to confirm these details before you apply for an internship.
Many Colleges Help Students Get Business Internships
Most colleges and business schools have programs in place to help students find an internship. Many schools actively encourage students to complete an internship, with business students often choosing to participate in two.
If you're interested in securing a business internship in college, here are some questions you'll want to ask before deciding on a college or business school:
While most business schools assist with the internship process, some go the extra mile when it comes to helping students land a great internship. For example, the EaC Internship Program at Cornell University matches entrepreneurship students with paid internships at startup companies throughout the U.S. and abroad.
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