MBA INTERNSHIP – Important for MBA Student?
Nowadays, MBA Internships have become an inevitable part of any Management Education. Almost each and every field need Exposure to Practical work. Internships work as a tool that can help MBA students to develop the necessary skills through hands-on experience.
During this Internship period, one gets to understand the work culture in different industries and the way work is done in the corporate world.
“The ideal intern is committed, creative, organized, ambitious, independent, and able to crack a smile, whether meeting a celebrity or folding socks.” – Emily Weiss
“My advice for young people is, study what you love and intern in what you want to do. And I think it’s okay to pivot as many times as you need to.” – Eva Chen
STATISTICS- What Numbers have to Say?
- A recent GMAC study shows that 59% of companies have actively increased the number of internships offered to MBA students.
- Approximately 35% to 40% of students accept a full-time offer resulting from their internship.
- According to the school’s annual employment report, 75.7% of those students are hired during school-facilitated activities made possible by the MIT Sloan Career Development office
- While it’s true that not all MBA internships are paid, a majority of MBA internships offer competitive salaries.
- In 2017, 27% of our graduating class returned full time to their summer employers, and more had offers.
DESCRIPTION-Let’s take a Deep Dive
Today, Best MBA colleges focus to create industry-ready employable candidates by providing students with platforms like Internships, Industrial-visits, and Corporate Events. In this age of cut-throat competition where everyone is struggling hard for a successful career, practical experience plays an important role.
MBA internship allows students to bridge the gap (between theoretical lectures & ground conditions) and gain work experience that will be relevant for professional worthiness. Skill and knowledge both go hand in hand, they can be inseparable.
Internships can help MBA students gain job experience, finding the right industry, test their new competences. Developing skill sets and meeting right people that might help you get a job offer after graduation.
Why choose an MBA Internship?
To get a taste of realtime situations of corporate problems, develop a better understanding of professionalism, get well acquainted with a system that follows rules and regulations, to figure out whether your skills are fit to the industry you chose during the internship, etc.
How to secure an MBA Internship?
Planning, Researching, Selecting and Applying are the four stages.
The portals like Internshala, Interntheory, LinkedIn, etc. will definitely help. Primarily, your MBA institute will get companies in campus providing Internship opportunities.
Types of MBA Internships
- Embedded in Curriculum – Minimum duration of 2 months also called Summer Internship
- Live projects/Off summer (part-time)
PROS of MBA Internship
- You get to explore Corporate Culture and become Job ready.
- Dealing with realtime problems that occur in daily corporate routines.
- Network Building as you are working with people from different departments, Educational background, etc.
- You can end up getting a PPO or PPI.
- Confidence level goes up as you have actually faced something that isn’t written in books.
PPO is a Pre-Placement Offer given by the organization.
PPI is a Pre-Placement Interview which can be converted to get a job.
CONS of MBA Internship
- Losing out on readymade opportunities
Internships boost your profile for qualification and help you to stand out. It adds STARS on your resume. So certificates/internship serves as MOON and STARS on your CV.
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Author: Mayuri Aher
Scrutiny: Riddhi Panesar