How Internships Increase Your Starting Salary as a Fresh Graduate -

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Getting an internship is a great way to build a resume and connect with people working in the same industry in the future.

This article will explore how internships increase your starting salary as a fresh graduate.

You can gain valuable real-world experience through an internship before committing to a career path.

It can also help you develop the skills and knowledge to benefit your future. The article will also cover the question, do you get paid for internships?

Table of Contents

What Is an Intern?

Interns are individuals (students or trainees) who are enrolled in a professional learning program that provides them with practice work related to their interests or field of study.

These experiences allow them to build their resume and improve their skills before committing to a definite career path.

While most internships are typically for graduate or college students, working adults planning on changing careers or obtaining degrees may also consider these opportunities.

Do You Get Paid for an Internship?

Although most internships are generally unpaid, some might be. To be considered an unpaid internship, both the employer and the intern must agree that the internship will be owed.

This is especially true when the work involves academic credit, which can count toward a student’s degree.

Training individuals who will eventually become employees are precious. Many companies pay their interns.

Fortune 500 companies and some private sector firms also pay their interns. There are multiple industries where these positions can be found, such as banking, advertising, and public relations.

The national average for paid interns is about $12.88 per hour. However, the salary can vary depending on the industry and location.

How Internships Increase Your Starting Salary as a Fresh Graduate

Internships are very valuable, especially for college students. Companies mostly hire previous interns when looking to fill up vacant positions.

The following are how internships increase your starting salary as a fresh graduate;

1. Technology

Today, many companies use complex software to run their operations. This has led to the need for more experienced individuals who can understand the underlying processes.

Many universities must provide the necessary training for these software packages.

2. Competition

The increasing number of students has increased the competition for internships. It’s also important for students to start earlier, allowing them to land more opportunities.

If they don’t have an internship during their first year, it can be harder to land one during their sophomore year.

Almost one-third of entry-level positions are filled through the summer internship program for junior and senior students. This is because the interview process usually starts in sophomore year.

3. Changing Hiring Pattern

The rise of online job applications has increased the number of people who are looking for work.

Due to the complexity of the application process, many companies now use an applicant tracking system to manage the influx of resumes.

These systems use advanced algorithms to rank and filter the applications submitted.

Recruiters typically only look at the most relevant ones for each role. Internships place you at the apex of these algorithms.

4. High Number of Graduating Students

Approximately two million students in the US graduate each year with a bachelor’s degree.

Almost 19 million students are enrolled in college. Over the past decade, the number of college graduates has increased significantly.

This means there’s more competition for entry-level positions. Internships place you at an advantage.

Types of Internships

There are two types of internships, namely:

Paid Internship
And Unpaid Internship

Paid Internship

While there are many internships, paid ones have the most benefits, such as higher starting salaries and a shorter search for a new job after graduating.

Working in paid internships can bridge the gap between workers who are full-time and unpaid interns.

Many companies hire from a pool of interns, allowing them to demonstrate their skills and experience.

Unpaid Internship

Even though students might expect to receive more money when they get into paid internships, unpaid ones still provide them with various perks.

These include networking opportunities and valuable experience. Having the necessary experience can help you land a job in the future.

Conclusion

We have outlined how internships increase your starting salary as a fresh graduate.

We also took some time to detail the two types of internships and their benefits.

Either way, you can gain valuable real-world experience through an internship before committing to a career path.