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WetFeet Internship Programs Report 2006: Best Practices & Guidelines for Developing an Effective Internship Program

Published by: WetFeet

Published: Mar. 2, 2006 - 148 Pages


Table of Contents


Executive Summary and Implications

Why Students Seek Internships

The Internship Job Market

Compensation

What Interns Think About Their Experience

How Internships Turn Into Full-Time Hires

What Makes an Ideal Internship

Recruiting Diverse Interns

Co-ops

Ideal Internship Checklist

Summary

Study Overview

Overview of the Internship Market




Why Students Seek Internships




  • Company Expectations and Student Objectives

  • Student Motivations for Pursuing Internships

  • The Internship Job Market

  • Finding Internships

  • Number of Internship Offers Received

  • How Students Decide Which Offers to Accept

  • Hiring Companies

  • Compensation

  • Internship Compensation

  • What Interns Think About Their Experience

  • Overall Evaluation of Internship

  • Detailed Evaluation of Internship

  • Best Part of the Internship, Student Impressions

  • Worst Part of the Internship, Student Impressions

  • Full-Time Offer Conversions

  • How Internships Turn Into Full-Time Hires

  • Why Interns Decline Full-Time Offers




Designing and Implementing a Top Internship Program




What Makes an Ideal Internship




  • Guidelines for Great Internship Programs

  • Key Elements of the Ideal Internship

  • Structure and Reporting Relationship

  • Feedback

  • Detailed Elements of an Ideal Program

  • Exposure to Multiple Divisions

  • Exposure to Senior Management

  • Mentorship Programs

  • Housing/Relocation Assistance

  • Training Programs

  • Social Activities

  • Full-Time Job Offer Guarantee

  • Program Coordination




Recruiting Diverse Interns




  • Diversity

  • Sourcing Diversity Candidates

  • Diversity Programs Offered




Co-Ops




  • Co-op Findings

Abstract

As the campus recruiting market grows more competitive, many employers are looking to their internship programs as a primary provider of road-tested, full-time talent. Yet while offers to students are up, the conversion on those offers remains relatively low. That's a problem for employers who typically invest a great deal in internship programs yet fail to convert those interns to meet hiring yields.

This report presents a detailed summary of WetFeet's survey of 2,105 interns, fielded in October and November 2005. The report also includes an in-depth look at seven best-in-class employer internship programs, and provides specific recommendations on how to increase conversion rates.

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