Are you considering pursuing an MBA in 2023? Have you already set your sights on your dream business school? If so, you’ve come to the right place!
In the academic year 2020-2021, around half of the available seats in AICTE-approved MBA institutions in India were filled by working professionals, while the other half were filled by freshers or students without work experience. This suggests that the number of freshers and working professionals pursuing MBA degrees in India is roughly equivalent.
However, based on placement data from various business schools, including the prestigious IIMs, students with prior work experience tend to secure higher-paying job offers. While summer internships may not be considered the same experience as full-time work, they offer a glimpse into the corporate world and its operations. Obtaining a summer internship can be a great way to start building your resume while still in college, potentially earn some money, and give one something to discuss in their B-school selection interview.
If you are a graduate student considering applying for summer internships or have already decided, you may wonder when the best time to apply is. This article will address this question and other common concerns you may have.
First things first, what’s a summer internship?
A summer internship is an initiative aimed at providing students with practical work experience in a corporate setting. These programs often serve as a student’s first step towards securing an entry-level position or as a valuable opportunity to enhance their resume. They also provide a platform for students to gain insight into potential career paths before making post-college decisions. Some internship programs offer compensation or stipends, while others may offer college credit in lieu of pay.
When is the best time to apply for summer internships?
At PG, we recommend you to start looking for internship options from early october onwards prior to the following summer. This is because companies have varying application deadlines, and it is important to avoid missing any crucial ones. For example, some firms may have a December deadline for summer internships for the upcoming summer. Hence, beginning your search early can be advantageous.
However, it’s worth noting that as an early internship search may not cover all of your options since some companies may not post job openings until March-April. As a result, we recommend conducting a search at least once a month until you find an internship that excites you.
While searching, it’s essential to keep track of the application deadlines for internships that interest you. If a company’s internship deadline isn’t available online, you can contact your college placement team, which may have an idea of when the deadline is. Alternatively, you could reach out to the company directly and inquire about the deadline.
Online Internships or Offline Internships?
While offline internships hold more value on a CV, due to the pandemic, online internships are currently being considered by recruiters on par with their offline counterparts. However, as the situation normalizes, recruiters may revert to giving offline internships an edge over online ones. Nevertheless, from personal experience, the work assigned in an online internship is on par with that of an offline internship, with the added advantage of daily online assignments that result in a more significant workload.
When choosing an internship, it’s crucial to understand your objectives and select the option that offers long-term benefits and adds value to your resume. One should also consider factors like your schedule, expenditure, and time management, as spending too much time commuting can be counterproductive. Therefore, it’s essential to choose your online or offline internship options wisely.
How long should my Summer Internship be?
Summer internships usually run for about 10 to 12 weeks, but the duration may differ depending on the company or your college schedule. To ensure that your internship ends before your college resumes, it’s crucial to inform the hiring manager of your school schedule.
If you have any queries regarding the duration of the internship, it’s essential to ask questions during the interview process to determine if the duration works for you.
How much do summer internships pay?
The payment for internships in India can vary widely depending on the industry, company, and location. In some cases, internships may be unpaid, while in others, interns may receive a stipend or salary.
According to a survey conducted by Internshala in 2021, the average monthly stipend for an internship in India is around INR 8,000 to INR 10,000 (approximately USD 107 to USD 134). However, some internships in certain industries, such as finance, consulting, and technology, can offer higher stipends ranging from INR 20,000 to INR 50,000 (approximately USD 268 to USD 671) or more per month.
It’s important to note that internships are not primarily about earning money but rather gaining valuable work experience and skills that can help you launch your career.
How can one find Internship opportunities?
Here are some ways to find internship opportunities:
Check with your college or university: Most colleges and universities have a career centre or an internship office that can help you find internships in your field of study.
Networking: Networking with professionals in your field can help you find internship opportunities. Attend job fairs, industry events, and conferences, and connect with professionals on LinkedIn.
Online job portals: Several job portals, such as Internshala, LetsIntern, and Twenty19, offer a wide range of internship opportunities across various industries and locations.
Company websites: Many companies list their internship opportunities on their website. You can search for companies in your field of interest and check if they have any internship programs available.
Social media: Follow companies and organisations in your field of interest on social media platforms such as LinkedIn, Twitter, and Facebook. Many companies post about their internship opportunities on social media.
Referrals: Referrals from professors, alumni, or other professionals in your network can also help you find internship opportunities.
Remember to start your search early and be persistent in your efforts. It’s also a good idea to tailor your resume and cover letter for each application and prepare well for the interview. Good luck with your search!
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