The Importance of Internships to College Students

In 2012, eighty-four percent of Santa Clara University graduates who responded to a survey from the Santa Clara University School of Engineering obtained one or more internships during their undergraduate studies. Of those who responded, eighty-two percent were employed full-time after graduation earning a median salary of $62,500 (Santa Clara University). This research exhibits that internships can be an important strategy in the efforts toward job search for both students, as well as for employers looking to hire valuable employees. As defined by InternNE.com, an internship is any carefully monitored service or work experience that may be evaluated for educational credit in which an intern or student establishes learning goals and†¦show more content†¦Hiring an intern can also help companies save on training costs in the future if their internships are able to be transformed into a full-time job offer. New employees who have had internships can hit the ground running beca use they are familiar with the company’s business practices, environment, and expectations. In addition, internship programs have increased the retention rate among several employers across Nebraska, as nearly eighty-six percent of students that have taken part in an internship are still employed with the same organization compared to eighty-one percent that did not have an internship (InternNE.com). Average one-year retention rates for college hires who engaged in an internship are nine to fifteen percent higher than college graduates who never served an internship. Average five-year retention rates for college hires who engaged in an internship are five to eleven percent higher than those who were not previously an intern (NACE). These rates display that companies benefit from the formation of an internship program because they are more likely to increase their retention rates among their employees and decrease employee turnover. Companies are more in likely to experience these higher retention rates because the employees are able to get a feel for the company environment before they are hired on as full-time employees. According to the 2009 Experiential Survey conducted by NACE Research, internship programs are one of the most powerful toolsShow MoreRelatedImportance Of Internships On The Life Of A Law Student1070 Words   |  5 PagesImportance of internships in the life of a law student William Shakespeare: Ignorance is the curse of God; knowledge is the wing wherewith we fly to heaven. As rightly pointed out by the legend of literature that with the power of knowledge one can have access to the doors of heaven. 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