Choosing Between a Job or Internship: A Student’s Career Guide
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Key Takeaways
- Weigh the long-term benefits of jobs versus internships for career growth.
- Unpaid internships can still offer valuable experience and networking opportunities.
- Consider internships at both large companies and smaller firms for diverse experiences.
- Secure school credit for internships to potentially offset education costs.
- Balance unpaid internships with part-time jobs to manage finances.
College life brings a pivotal decision: Is an entry-level job or an internship the better path for your future? Each offers unique experiences and benefits that could shape your career trajectory.
Assess whether immediate financial gain or long-term career growth suits your goals. Weigh the prospects of company training vs. hands-on field exposure.
Decide with clarity on how best to prepare for graduation and beyond by choosing opportunities tied to your aspirations.
Before You Choose: Think Long-Term
Many individuals make decisions based on their current situation; however, to ensure future success, you have to take the time to think and plan for the future. Where do you want to be in five years, 10 years, and so on? If you have lofty career plans, then a part-time position as a barista is not going to get you there.
Many companies are hiring from their pool of interns. It just makes more sense for an employer to hire someone young who already has been trained by the company. Don’t forget that several entry-level jobs tie directly to your degree.
For example, a student studying education can get a job as a teacher’s assistant or preschool teacher. At the same time, individuals studying computer science or technology might be able to land a position at an information technology (IT) help desk.
Both entry-level jobs and internships have their pros and cons; you just need to decide what is the best choice for you now and in the future. As long as you choose a position within your desired career field, your future resume will be impressive.
Budgeting Strategies for Unpaid Internships
While more and more employers are offering paid internships for college students, there are still some companies that don’t pay their interns. If you do come across an amazing internship opportunity, you don’t have to turn it down immediately just because there is no pay.
Evaluating the Benefits of Different Company Sizes for Internships
Before taking on an unpaid internship, consider the company and its employees. Is the company a well-known business that future employers would respect? Is this company someone you would want to work for after graduation, and is it a viable possibility that you could land a job with this company?
You may want to avoid lesser-known companies that use internships for free work. If you are going to give up your time for free, then you want to get the experience you need to excel in your career.
However, sometimes large corporations only offer a general internship, which typically involves office work and administrative duties. As a result, you might get more hands-on experience and mentoring with a smaller firm.
Maximizing Course Credits Through Internships
It is also a good idea to ensure you are receiving maximum school credit for your internship.
While an internship might not pay you, it can save you thousands of dollars on class costs, depending on how much your university charges per unit. However, it’s important to make sure that your college or university accepts credits for internships.
Important
Even if an internship is paid, it does not necessarily mean it will come with other typical employee benefits, such as health insurance, sick days, or retirement plans.
Also, ask university officials for the details regarding the requirements that need to be met to fulfill the internship credits. For example, a university might require a certain number of hours to be completed per semester, such as 300 hours. You’ll also need to determine if the potential employer is willing to grant you those hours and do the necessary paperwork to coordinate the internship with your school.
Smart Financial Planning for Internships
If you truly want to make an unpaid internship work with your limited budget, then consider how you can cut your costs. Perhaps you can move back in with your parents temporarily. Although not ideal, you can also use student loans to help you pay for living costs.
It is best to look for a part-time job or cut costs before you turn to student loans. You might regret taking on an internship if it means you are stuck with an extra $10,000 of debt upon graduation.
Balancing Paid Work and Unpaid Internships
Ideally, you would be able to get a paid internship or balance an unpaid internship with a part-time job. Look for flexible internships that allow you to choose your hours or commit to one or two full days rather than a few hours each day.
Also, consider part-time jobs that offer odd hours. Fast-food service and delivery jobs might not be the top choices for your job search, but they allow you to work odd hours so that you can still have time for your internship and college classes.
Networking Tips for Interns and Job Seekers
Use every college class, internship, and job to its fullest advantage by making the right connections. Getting the attention of your professor, employer, and fellow employees can help you in your job search after you graduate.
Don’t overlook anything as an opportunity to network. Even a position at your local coffee shop can help you make connections with successful businessmen and businesswomen in your community. The right college classes, internships, and jobs will look great on a resume, but the connections you make with people in these positions are even more important when it comes to landing a future job.
What Is the Difference Between an Internship and Employment?
Internships are usually temporary, lasting from a few months to a year. The primary objective of an internship is to gain experience and exposure to a certain field, assist full-time employees, and learn. Internships can be paid or unpaid.
Employment is a job that is paid either hourly or by a salary. An individual is hired for a specific job based on their skills and is expected to execute the roles and responsibilities of that job once they begin.
How Old Should You Be for an Internship?
The age at which one should be an intern will vary depending on the individual’s life circumstances, the country’s labor laws, and the industry they are interning in. Internships can start at a young age—in high school, for example. However, most internships start during college so that an individual can gain experience in the field they are aiming to work in when they graduate.
Many individuals who have years of work experience can also intern when they decide to switch industries and want to gain experience in a completely new industry.
Do You Have to Be a Student to Intern?
No, you do not necessarily have to be a student to intern. An internship is at the discretion of the firm or individual making the internship. They will have a set of requirements that candidates will need to meet before being considered for an internship. An investment bank’s summer internship program, for example, will most likely require its candidates to be students, whereas a construction company looking for new construction workers may not require an individual to be a student but rather have the ability to carry out the physical demands of the job.
The Bottom Line
Whether you choose to pursue an internship or a job, look for opportunities that line up with your career goals. Your individual situations should also factor into weighing the benefits of both options. You should also consider your long-term career impact.
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