Recent college graduates and students have been especially hard hit by the current mediocre state of the economy; 54% of this population is either unemployed or underemployed. Luckily, there seems to be a new path to take when trying to secure a job: the internship. In a recent Forbes article, Jacquelyn Smith, discusses a new survey which examines the transition rate of internships into full-time jobs in 2012. The study, carried out by Internships.com, from December 1st through December 4th, 2012, surveyed over 7,300 students and recent graduates, and more than 300 individuals within human resources.
The study found that in 2012, 69% of companies with 100 or more employees extended a full time job offer to their interns. In other words, approximately 7 in 10 interns were hired full-time! The internship allows employers to evaluate the intern beyond a simple job interview. It also gives students and recent grads the opportunity to try out a career.
The hiring forecast for interns appears to be even brighter for 2013. Of the companies surveyed, 53% plan to hire more interns in 2013 compared to 2012. Additionally, the number of internships offered is expected to grow: 36% more employers offered internships from 2011 to 2012 and an even greater growth percentage is predicted from 2012 to 2013. As a way of the future, 33% of companies hired virtual interns in 2012. From 2011 to 2012, this was a 20% increase. Virtual internships are giving students an opportunity to gain valuable work experience aside from just after class and summer vacation when it is extremely competitive to gain an internship slot.
Now is the time to look for an internship. It will give you the chance to decide if the career is right for you, gain valuable experience, and get a leg up on your peers in a competitive job market. Best of luck!