Good News and Bad News on the Internship Front

By Zack on March 31, 2009

OK gang, it's time for a little segment we like to call "Good News Bad News." There have been some developments on the college and intern hiring front and it's a bit of a mixed bad. I'm the type who likes to get the bad news out of the way first, only to feast on the good news later, like a cherry that sunk to the bottom of the delicious sundae that is your career, bathed in the sweet juices of all that has gone before it.

Umm. Moving On.

The BAD NEWS:

According the the National Association of Colleges and Employers both internship hiring and college hiring fell by over 20 percent compared to last year. The separate studies, conducted by NACE, show Internship Hiring down 21 percent and College Hiring down 22 percent.

Employers taking part in NACE’s 2009 Experiential Education Survey cited budget cuts, decreased workloads, and company downsizing and restructuring as among the top reasons for bringing in 20.7 percent fewer interns this year than last year.

“The drop-off in internship opportunities mirrors what we’re seeing in terms of full-time hiring for new college graduates,” says Marilyn Mackes, NACE executive director.

The GOOD NEWS:

NACE also reports that, while internships as a whole are down, salaries for interns are up 5 percent. This brings the average hourly wage for an intern up to $17.13 - not too bad for an internship.

“We are seeing that intern hiring and full-time hiring are down this year due to the current economy. The increase in intern salaries may reflect a long-term strategy on the part of employers to ensure their internship programs continue to attract top students,” says Marilyn Mackes, NACE executive director.

Intern salaries are affected by the student’s major and year of study as well as the location of the internship.

“There are a variety of factors that determine salary,” says Mackes. “For example, in general, the further along the student is in school, the higher the salary, with sophomores earning more than freshmen, and juniors earning more than sophomores. By field, students in engineering and computer sciences earn the highest salaries on average.”

So what does this mean for you? Well, it means pretty much the same thing as the job outlook. You will face some stiff competition both coming out of school into the work force and as a current student applying for internships. However, if you are able to secure one of these jobs or internships, take comfort in the fact that employers are willing to recognize and reward the skills and work of their new employees. Just make sure that you are prepared for the job hunt, because if you are not, be assured someone else will.

Need some help to get you ahead of the competition? Try The Links ...

The Thin Pink Line Offers: Advice for graduating seniors who can't seem to land a job. Lindsey Pollack says not to worry, you can find short-term productive work to keep you in the game. Try temping, volunteering, tutoring and freelance to stay active while searching for that full-time gig.

Blue Sky Resumes Blog Explains: How to get feedback on your resume. "[A]sking for a general critique is generally a bad idea. In my experience, the best way to solicit feedback is to ask people who have worked closely with you: ‘does this resume accurately represent what I have accomplished?’ Sometimes, you’ll find that co-workers will say ‘No! You didn’t even mention X project!” or “you didn’t say that you know C++” and you’ll realize that they are right."

Brazen Careerist Anthony Portuesi Says: Joining Professional Organizations in college is a great way to get a leg up in the job hunt. The orgs are a great way to network, work on projects as an undergrad and get some useful experience that an be applied to real-world situations. One organization Anthony recommends is is Pi Sigma Epsilon. Check it out!

"Good News and Bad News" photo courtesy of Mike Licht, NotionsCapital.com via Flickr Creative Commons