According to a recent survey completed by the National Association of Colleges and Employers (NACE), it is expected that internship hiring will be cut by 21% this year. The good news is that 92.6% of survey respondents still planned on hiring students for internships or co-ops and that many employers even planned on increasing undergraduate-level internship salaries by 4.9 percent.
Tough Economy Affects College Students:
With the current state of the economy everyone is looking for ways to increase income and reduce expenses. The economic crunch is also having an affect on today’s college students as they begin looking for summer internships and jobs. Since companies are much less likely to offer paid internships when they have just laid off a percentage of their workforce, students must learn to be flexible and find some creative ways to meet their goals.
I hear a great deal of concern from students who are looking for summer internships and jobs. Although their primary goal may be to find something that will help meet their personal and college expenses, most students are cognizant of the fact that it's also extremely important for them to get some relevant work experience that can be included on their resume.
Internships in a Down Economy:
As they begin looking for summer internships and jobs, today’s college students must face the fact that employers will be hiring less people this year. Companies who have just laid off ten employees may be somewhat hesitant to bring in a paid intern to replace them. Although the thought of considering an unpaid summer internship seems unrealistic or unattractive to many students, it’s important to consider the long-term consequences of having no job at all (not going to work for free) or even a job that pays minimum wage (for the sake of making some money), in lieu of doing an unpaid internship.
Summer Employment Options for College Students:
The truth is that each individual must evaluate their personal situation when searching for summer internships and jobs. Since gaining relevant experience in a particular field can be crucial to getting hired, students should consider all options when making a decision. Since many internships offer part-time hours, students can find creative ways that may meet both their needs quite nicely.
One option for students is to do an unpaid internship and a summer job. By doing both a job and an internship, students will have an opportunity to gain some relevant knowledge and skills by working in the field while also making the money they need to meet their financial goals. Although volunteer experiences don't provide a salary, employers usually are impressed when they see volunteer experiences listed on a resume. Volunteering shows employers that the candidate possesses a certain level of maturity, commitment, as well as the positive values they value when hiring new employees. Both unpaid internships and volunteer experiences are excellent ways students can document their value to employers once they are in the process of looking for a job.
Another options is to find opportunities that are funded through grants and/or scholarships. Although it may be somewhat late to find these opportunities for this year, planning ahead and researching resources may help put students ahead of the game come next summer. These opportunities provide learning experiences for students who can't afford not working for the summer but who are also concerned about not having any relevant experience to put on their resume.
Summer camp jobs, tutoring, and private school teaching are also ways to make money while honing some professional skills. Even if teaching is not your goal, the transferable skills (communication, interpersonal, leadership, teaching, advising, organization) you will learn by doing these positions can have a positive impact on any resume. Many of these positions offer housing and food in addition to a salary. One thing students should keep in mind is that even if their overall GPA is a 3.98, it may still be very difficult to find a full-time job if they don't possess the relevant work experience they need to meet the employer's requirements.
