Internship Hiring Falls 21 Percent
Employers are cutting the number of college students they will offer internship opportunities to by nearly 21 percent, according to a new study conducted by the National Association of Colleges and Employers (NACE).
Employers taking part in NACE's 2009 Experiential Education Survey cited budget cuts, decreased workloads, and company downsizing and restructuring as among the top reasons for bringing in 20.7 percent fewer interns this year than last year.
"The drop-off in internship opportunities mirrors what we're seeing in terms of full-time hiring for new college graduates," says Marilyn Mackes, NACE executive director.
In February, NACE released a report showing employers expected to cut new college graduate hires by nearly 22 percent compared to last year.
Despite the cutbacks in internship opportunities, the new NACE report includes some positive news, says Mackes.
"Most of the employers responding to our survey say they are committed to their internship programs and plan to continue with them," she says. "They report that they are reducing--not eliminating--their internship opportunities."
That commitment, says Mackes, is a reflection of the strategic importance of internship programs: For many organizations, the internship program is a key "feeder" for full-time hiring.
"Employers tell us that these programs are an effective means for identifying potential employees. Many organizations look first to their interns when they have full-time openings," says Mackes.
In fact, responding employers reported that more than one-third of the new college graduates they hired in 2008 came from their internship programs.
In addition, the report shows that salaries for interns at the undergraduate level will increase. Employers expect to offer their 2008-09 undergraduate interns an average hourly wage of $17.13, a 4.9 percent increase over the average $16.33 hourly wage earned by 2007-08 interns.
"Nearly all of the organizations that took part in our survey pay their interns, and the increase is perhaps another indication of the value employers see in these programs," says Mackes.
Since 1956, theNational Association of Colleges and Employers (NACE) has been the leading source of information about the employment of college graduates. NACE maintains a virtual press room for the media at www.naceweb.org/press/.
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