With the economy and the job market coming to a furious slowdown, many college students and recent graduates are worried about securing internships.
In today's society, internships have become a requirement for most students. However, many large companies are decreasing their internship programs or cutting them altogether, which means students in law, finance and other high-professional fields are having a tough time finding internships.
According to an article by CNN Money, a recent survey by the MBA Career Services Council revealed that 56 percent of career-services officers said on-campus recruiting was down by more than 10 percent this winter.
"[Employers] don't know what's happening six months from now," Pamela Bierman Mittman, assistant dean of career services at New York University's Stern School of Business, said in the article. "This year they seem to be less confident about the actual hiring targets this far ahead. They're not making long-term commitments yet."
While 10 to 12 week internships, often with the promise of a future job, used to be commonplace, fewer firms are even offering internships this year, and those that are plan to hire fewer students and make fewer full-time offers.
"There's a general shrinking," Maxine Sugarman, director of career services at Pace University in New York, said in the article. "We're seeing very limited opportunities for MBA students in terms of typical summer opportunities that could translate into a full-time opportunity."
Thursday, February 26, 2009
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