Why Should My Firm Have a Student Intern?

About this time every year, several thousand undergraduate and graduate students alike begin the search for summer internships. Your consulting firm will likely be approached by a number of students, or perhaps by faculty members from a local university or your alma mater. Why should you say yes when the calls begin to come? What should you be prepared to pay, or can you find a free intern?

What Are Interns?

Students who are seeking an internship opportunity are usually looking for a real-world chance to apply what they have learned in their studies for a fraction of what they will earn after they graduate. This student will work full-time or part-time with an organization over the summer months and may, if circumstances allow, continue on a part-time basis when school resumes in the fall.

The role of the intern is to take on assignments that are commensurate with his or her skill level and experience and provide relatively inexpensive professional help for an organization. The intern gains job experience in his o her chosen field, some good fodder for a recent graduate's resume, and an opportunity to test the theories and skills they have gained to date. And typically, in exchange for the experience, they are willing to accept a wage that is far less than they might accept in another setting.

Why an Intern Can Be Good for An Organization.

There are a number of reasons why organizations might want to consider offering an internship experience.

1. Cheap Labor. Interns normally bring to an organization a number of important skills that under other circumstances might be very expensive. Usually, they have good research skills that they have gained in college. They often have good writing skills as well and can add value to an organization's product.

2. Fresh Ideas. Interns coming from academia often bring some of the latest concepts from their coursework and research. The offer a fresh perspective in what can at times be a stale organization. Many consulting professionals try to stay current with trends and research, but have a tough time given their workload and schedules. Using a bright student who has read and researched during their academic work can offer insights that would not be available eslewhere.

3. Academic Partnerships. Working with a local university on an internship program can enhance the organization's relationship with that institution. This may pay dividends in working with faculty members on projects or publications, identifying sources of research for a client at lower cost, or connecting with potential clients who have connections with the university.

4. Finding New Associates. Firms who hire interns for the summer can evaluate that student's skills and his or her potential as an employee of the firm. This "trial period" can be a good way of identifying new talent and testing it before making a long-term commitment. Many star consultants today started with their firm as a student intern.

5. Enhanced Reputation. Even if an intern does not become a permanent part of a firm with which he or she works, the intern's experience with the firm often shapes his or her career, at least in the early stages. Having a cadre of interns from one's firm working in other organizations brings a level of recognition to the firm that is of value.

6. A Contribution to the Profession. Every consultant recognizes that the profession is strengthened for all by bringing good new practitioners into the marketplace. Providing a quality internship experience returns something of great value to the consulting profession, and gives us an opportunity to mentor and help those wishing to enter and make a contribution.

What Does an Intern Cost?

Generally, the college or university will offer guidelines for intern compensation. As in anything else, you get what you pay for. If you want to attract the best qualified interns, you should be prepared to pay the going rate. However, some interns will work for free, with the firm providing work and supplies. In addition, most colleges and universities offer work-study programs in which grants or endowments may provide a portion of the cost. Explore all options.

What Makes a Great Internship?

Here are a few ideas for making internship experiences meaningful.

1. Provide meaningful work. Give the intern some projects that make a significant contribution to a client or to the organization. Do not look at the intern as a clerical person and ask them to reorganize filing systems. Interns are great at research; many have very good quantitative analysis skills and could be used to evaluate survey results and so forth.

2. Let them see the real world. Don't shelter them in a cubicle during the entire internship. Take them to meet with clients. Let them make presentations of their work. Give them a well rounded experience.

3. Look for resume-enhancing work. Interns are usually looking for projects that will look good on a resume and will have a finished product. Think about projects you have to which they can contribute and have a good experience doing.

4. Let them network. Interns appreciate the chance to be "in the loop." Let them meet with a variety of people in the organization. Take them to lunch and let them ask lots of questions. Invite them to staff meetings. Bring them into discussions when their skills could be used. Meeting lots of people gives the intern a chance to grow and learn.

Conclusion

So when that call comes from a student, a faculty member, or a university official seeking an internship opportunity, give it careful thought and find a way to offer that opportunity to a bright student. It will be of benefit to your organization, to the intern, and to our profession.

The Intern's Guide to Success

Congratulations! You have decided that an internship is the way to go as a stepping stone to your new career in consulting. You have found a firm that is willing to use your services for the summer and/or part-time during the school year. What can you do to ensure that your internship experience will meet your needs and also meet the needs of your new organization?

1. Define your goals. Knowing what you expect from an internship will help you have the experience you want. Do you want the internship to posture you for full-time employment at this firm? Are you looking to build a reputation that will help you elsewhere? Are you hoping to refine your skills? Do you want to identify things you lack to be competitive in the marketplace? Whatever it is, start out with the end in mind. Use good goal setting techniques and write down what you hope to achieve.

2. Define your employer's expectations. Meet with the person who selected you for the internship and with your immediate supervisor. Identify what it is that they hope for you to achieve. See where your goals and theirs overlap and focus on those areas.

3. Be professional. Act and look the part of a good intern. You should dress the way you see the regular professional employees dress. In most organizations, that will be a step or two up from what you wear to class at school. Speak with some polish. Avoid slang and especially vulgarity. Speak respectfully to others in the office setting. Treat them better than you would treat your peers at school.

4. Take initiative. Do more than is expected by your supervisor. Come early and stay late when possible. Look for opportunities to contribute. If you are good with quantitative analysis, offer to prepare a good analysis for one of your coworkers. Volunteer for the projects that no one else seems to want and do them well.

5. Bring the right attitude. Being successful in your internship will depend to a large extent on the attitude you display. Have a high energy level. Be upbeat and positive. Look for ways to help and to contribute to the firm's bottom line. Be friendly with others, but stay focused on your work.

6. Network as much as possible. Look for opportunities to meet and interact with as many people as possible. Many firms with younger employees have brown bag lunches from time to time–ask to be included. Go with a consultant on a client visit and use the time to network. Attend professional association or civic club luncheons and meet many people. Networking is an excellent learning experience, and the contacts you make networking will be helpful later as you look for full-time employment and begin your career.

7. Build your portfolio. Look for assignments that will result in a finished product and ask if you can keep a copy for your portfolio. When you write a memo or prepare an analysis or a presentation, maintain a copy in a file that you can use later to showcase your work. But remember that much of what you will do will be proprietary for the firm, and they may want to remain confidential. But where you can, document your experience. 8. Keep a journal. At the end of each day, jot a few notes in a notebook about what you did that day, who you met, and what experiences you had. Keeping a good record will greatly enhance the internship experience and will help you remember the people you met while networking.

9. Prepare a final summary. Near the end of the experience, compile from your journal a summary of your experience. Focus on the skills you gained, the work you completed, and your contribution. Submit a copy to your supervisor at the firm and to your graduate advisor, and keep a copy for building your resume.

10. Send thank you letters. After the internship experience, send a well written thank you letter to everyone who contributed to your experience. Remember your supervisor, the clerical staff, coworkers, recruiters and others. This step alone will set you apart from many of the other interns who are faceless and nameless a few months later. And it is an incredibly professional and courteous thing to do.

Remembering these few rules of thumb will make your internship a successful experience for you and for your employer, and will pay big dividends in the future when you are looking for that first full-time consulting position.