Securing Your Future: A Comprehensive Guide to Internships for Business Students
An internship is an applied academic experience that typically lasts one semester. Internships provide students the opportunity to build upon, apply and assess the concepts developed through the business school's curriculum and to further professional growth through a meaningful job experience. This shows employers that you have initiative, experience and are ready for the workforce. Further, internships can help you focus your career interests and offer a glimpse into potential career paths. For business students, internships are invaluable opportunities to gain practical experience, build professional networks, and enhance their resumes. This article provides a comprehensive guide to internships for business students, covering everything from the benefits of internships to finding and securing the right opportunity.
Why Internships Matter for Business Students
Internships offer a multitude of benefits that can significantly impact a business student's academic and professional journey.
Building a Standout Resume
One of the greatest benefits internships provide business students with is that it allows them to begin to build their resumes. By participating in an internship during your time in a business program, you will be able to gain skills and experiences that you can list on your resume, which can help to set you apart from the competition and give you an edge as you begin to apply for jobs. Listing an internship, as an example of professional experience, on their resume helps the student in their job search upon graduation.
Networking Opportunities
Internships for business students also provide great chances for networking. As long as you develop a reputation for being responsible and hardworking, the connections you make during your internships will likely be more than willing to help you out after you graduate, whether this be by acting as a reference or by helping you to find your first full-time job.
Potential for Future Employment
Not only will you be able to make vital connections during your internship, but you may actually find your future employer through your internship! An internship will allow you to get a foot in the door at a company. It will allow you to demonstrate to the company the unique skill set you bring to the table and what you could offer to their company.
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Developing Essential Skills
During your internship, you will not only have to juggle the assignments delegated to you as part of your intern program, but you will also have to stay on top of your schoolwork, and you may even have to maintain a part-time job to make ends meet. An internship program can allow business students to gain valuable real-world skills while making connections that will help them to succeed upon graduating college.
Career Path Clarification
Additionally, internships can help students to learn more about different roles in the business world, and it can help them to determine what kind of career they want down the road. The internship experience allows the students to see their profession in a more realistic light. Working side-by-side with professionals outside the classroom helps the student to develop a sense of responsibility and confidence in their abilities.
Types of Internships
Internships can vary widely in terms of industry, company size, and specific roles. Here are a few common types of internships for business students:
Accounting Internships
Accounting internships offer students the opportunity to gain hands-on experience in various accounting processes. For example, an Accounting Intern might assist in weekly accounting processes including posting timesheets, mileage logs, accounts payable and/or other transactions. They may also prepare month-end closing journal entries and reconciliations, create additional financial analysis as needed, and perform filing or other duties as assigned.
Marketing Internships
Marketing internships allow students to develop their writing skills and gain experience in international real estate and marketing. For instance, a Marketing and Blog Writing Intern might participate in a well-designed training program to learn the ins and outs of both international real estate and marketing. They may also be encouraged to share their ideas at the end of each week in order to develop new projects with the company.
Read also: Comprehensive Internship Guide
Social Media Internships
Social Media Interns are charged with leveraging social media platforms to spread awareness of food insecurity and promote a brand in the local and online communities. They help market new initiatives and events on social media networks. The Social Media Intern’s essential duties will include, but are not limited to: Posting content daily to various platforms, working with the graphic designer to develop content, assisting with social media campaigns, developing online marketing strategies and tactical plans, and collaborating closely with other Marketing team members.
Real Estate Internships
Real Estate Internships provide a well-designed training program where interns learn the ins and outs of international real estate. They are encouraged to contribute their ideas each week in order to develop new projects with the company.
Human Resources Internships
HR Interns support the Human Resources team. They may specialize in furnished rental, bed and breakfast, and vacation rental markets.
Global Agricultural Water Strategy Internships
These internships support the supply chain water stewardship project by identifying opportunity areas that serve regenerative agriculture plans while also connecting with customers to build supply chain resiliency. Interns may leverage available data from regional water groups to baseline water usage in priority basins and work with identified growers to capture full farm water stewardship plans.
Finding the Right Internship
Securing an internship requires a strategic approach. Here are some steps to help you find the right opportunity:
Read also: Internship Opportunities
Career Services
Begin by connecting with your university's career services department. They often have listings of available internships and can provide guidance on resume writing, interviewing, and networking.
Online Job Boards
Utilize online job boards such as Handshake, LinkedIn, Indeed, and Glassdoor to search for internships. Filter your search by industry, location, and keywords relevant to your interests.
Company Websites
Visit the websites of companies you are interested in working for and check their careers pages for internship opportunities.
Networking
Attend career fairs, industry events, and networking sessions to meet professionals and learn about potential internships.
Faculty and Alumni
Reach out to your professors and alumni network for leads on internships. They may have connections with companies that offer internships in your field.
The Application Process
The application process for internships typically involves submitting an online application, resume, and possibly a cover letter. Here's a breakdown of the steps involved:
Online Application
Most companies require you to submit an online application through their website. This usually involves filling out a form with your personal information, education history, and work experience.
Resume
Your resume is a crucial part of your application. Highlight your academic achievements, relevant coursework, skills, and any previous work experience.
Cover Letter (Optional)
Some companies may require a cover letter, while others may not. If a cover letter is required, tailor it to the specific internship and company, highlighting your interest in the role and how your skills and experience align with the requirements.
Online Assessments
Some companies, like UBS, use online assessments to evaluate candidates. These assessments may include:
- Verbal reasoning: Tests your ability to understand and analyze written information.
- Numerical reasoning: Assesses your ability to interpret and analyze numerical data.
- Inductive-logical reasoning: Evaluates your ability to identify patterns and apply logical rules.
- Culture Match: Presents realistic, hypothetical work scenarios where you need to pick the most effective course of action, in line with the company's principles and behaviors.
Video Interview
After passing the online assessments, you might receive a link to record a video interview. Dress smartly, keep good eye contact with the camera, and be concise in your responses.
Final Round Interviews
The final stage of the process typically involves virtual or in-person interviews. Be sure to research the company and the business area you're applying to. Prepare questions to ask the interviewer and be ready to discuss your experiences, outcomes, opportunities, and what you might have done differently.
Tips for a Successful Internship Application
- Tailor your resume and cover letter: Customize your application materials to match the specific requirements of each internship.
- Highlight relevant skills and experiences: Focus on the skills and experiences that are most relevant to the internship.
- Proofread carefully: Ensure your application materials are free of errors in grammar and spelling.
- Prepare for interviews: Research the company, practice answering common interview questions, and dress professionally.
- Follow up: After submitting your application or completing an interview, send a thank-you note to express your appreciation.
Academic Credit for Internships
Some universities offer academic credit for internships. If you are interested in earning academic credit for an internship, you must begin the process by meeting with your graduate or undergraduate academic advisor to determine your internship for credit eligibility. Your advisor will review how an internship might apply towards your course and degree requirements and, once agreed upon, provide the approval to submit an application through Handshake to open next steps towards registration for the course.
Eligibility Criteria
Eligibility criteria for earning academic credit for an internship may vary by university and program. For example, at Wayne State University, undergraduate students must meet these criteria to participate in an internship for credit:
- GPA of 3.0 or higher.
- Junior status or higher.
- Completed a minimum of 12 credit hours of business coursework at Wayne State University with a passing grade.
- Completed the core course(s) with a minimum C grade in the chosen major or obtain the approval of the chair of the respective academic department.
Graduate students must meet these criteria to participate in an internship for credit:
- Completed all core courses in the respective graduate program at Wayne State University with a passing grade.
- If enrolled in the Master of Science in Accounting program, completed at least 12 credit hours of graduate accounting courses or obtain the approval of the chair of the Department of Accounting.
Application Process for Academic Credit
To apply for internship credit, students must complete the internship application and submit the application and all of the required documents. The number of hours you will be working is used to calculate the number of credits; as a general rule, 100 hours of paid internship experience equates to 1 credit.
Internships at UBS: A Closer Look
UBS offers internship opportunities for students in various business areas. Their application process is designed to be accessible and inclusive.
Application Process at UBS
To apply for an internship at UBS, submit an online application and upload your CV/resume. Since UBS doesn’t ask for cover letters in most regions, let your CV do all the talking to reflect who you are. They want to hear about your hobbies, your interests, academic achievements, work experience and what you’ve learned from these experiences.
Commitment to Inclusion
Everyone is welcome at UBS. And they’re committed to disability inclusion and making sure their application process is accessible for everyone. If you need reasonable accommodation/adjustments throughout their recruitment process, you can always contact them.
Assessment and Interview Process at UBS
The assessment process at UBS includes online assessments, a video interview, and final round interviews. Be sure to research UBS and the business area you’re applying to. Go beyond the facts and figures. Also, don’t be afraid to ask questions during the interview. Let’s get a conversation going. When you speak about your experiences, give us examples and tell us a story. The outcomes, opportunities and what you might have done differently.
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