This year's graduates who completed an internship as part of their degree were 26 per cent more likely to get a job than their peers who did not, according to the latest research from the Graduate Management Admissions Council (GMAC), which administers the GMAT test.
The data comes from a survey of both MBA and specialized masters graduates – the GMAC Global Management Education Graduate Survey. "The value of an internship can't be underestimated -for both the employer and the employee," says Michelle Sparkman-Renz, director of research communications at GMAC. "Whether or not a candidate has work experience, internships are effective in helping students realize their career ambitions. And in a hyper-competitive job market, an internship is a great way for a student to shine and get their résumé put on the top of the pile when applying for a full-time job at the company."
According to data from the 2011 GMAC Corporate Recruiters Survey, internships are one of the best ways for job candidates to prove themselves in their targeted industry. Indeed, the employment of interns as full-time hires was notable in both the consulting and high tech sectors, with a 70 per cent rate of hire for interns.
More than 40 per cent of MBA and specialized master's graduates who participated in the GMAC graduate survey said they completed an internship while in school.