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Internships Key to Job-Search Success
Class of 2011 graduates who took part in a paid internship were more likely to get a job offer, have a job in hand by the time they graduated, and receive a higher starting salary offer than their peers who undertook an unpaid internship or no internship at all, according to NACE’s 2011 Student Survey.
The survey, which garnered responses from nearly 20,000 seniors, found that paid interns in the for-profit sector earned the highest offer rates: More than 61 percent had received a job offer. But paid interns in the nonprofit and government sectors also outpaced unpaid interns, regardless of sector.
Best showing for unpaid internships—the for-profit sector, with just under 38 percent of unpaid interns getting a job offer.
Paid interns was with a state/local government employer: Just under 40 percent received a job offer.
Intern duties appear to be the key to the difference in why paid internships translated into better job-search performance. The paid interns spent more time on “professional” duties—and thus gained more “real” experience—than unpaid interns, who spend more time on clerical activities.
Employers Increase Percentage of Hires from Internship Programs
Employers taking part in National Association of Colleges and Employers Survey reported that 44.6 percent of their Class of 2009 hires came from their own internship programs.
That's a significant increase over last year's survey results, when employers reported that 35.3 percent of their 2008 new college hires came from their own programs, suggesting that there is greater reliance on internship programs to identify potential full-time hires.
Unemployment rate in accounting profession remains at 3.5%
Entry-level CPAs are finding the job market fairly friendly despite
the nation's high 9.1% unemployment rate. Unemployment in the
accounting profession has remained at 3.5% this year, according to the
Bureau of Labor Statistics. The competitive job market means higher
salaries for new accountants and potential recruiting challenges for
employers. Crain's New York Business (subscription required) (9/25)