By Nick Strain, CFP®, CPWA®, AIF®, Senior Wealth Advisor
In today’s competitive employment environment, relevant work experience matters. Solid internship experiences can give new entrants to the job market a leg up in securing a rewarding full-time job after they graduate from college. Internships can also help aspiring professionals gain perspective – and get a clearer idea of what they’d like to focus on in their careers.
Over the last few years, I’ve been surprised by how early the internship application process has started and how competitive it has become. Application processes for summer internships for large corporations sometimes start as early as September and close in October and November. These can involve some time and effort and be more complex than just submitting a resume.
Halbert Hargrove has had a thriving internship program for college students for 15+ years and we typically have 5 interns working throughout the year. We have a unique internship program because we request that interns stay with us for a minimum of 1 year so that they can learn some of our internal processes and software programs to help support our operations and client service teams in different areas. Interns will work closer to full time during the summer and switch to 15-20 hours during the school year and they work around their class schedule. Working throughout the year allows interns to learn more and contribute more to our firm and thus to client activities. There are also leadership opportunities within the internship program because some of the interns are with us for multiple years and then they help train the new interns who join our firm. We’ve also found some really great employees through our internship program and many of our employees first started as interns.
Many of our clients are parents and grandparents who are engaged in supporting their family members’ college careers. We’ve put together the following 5 recommendations to share with your kids and grandkids who are seeking internships.
5 Key Steps for Finding a College Internship
Here are 5 important actions to help you be fully prepared to find appropriate internships and submit applications to get the position you want:
- Start building your resume early.
- Start looking for internships as early as August and applying in September – or when the application portal opens.
- Network with family, family friends, or your peers who have already graduated.
- Research each internship position, including the kinds of exposure you’ll receive, the firm itself, and what kinds of employment opportunities have historically been available to those who intern at each firm post-graduation.
- Send thank-you emails to everyone you’ve met during the interview process (whether Zoom, phone call and/or in-person interviews).
Perfect That Resume
Start building your resume early so that you can spend more time on searching for the best opportunities. Once you’ve got a solid general draft, you can make minor changes to your resume that will fit each internship application. Add interesting and applicable courses, clubs and college activities that build credibility concerning why you should be selected.
Take the time to proofread and polish your resume! Be sure to ask for help in reviewing your resume and asking for suggestions for improvement – including from your parents, family friends who pursue a profession similar to what you’re seeking, and your university’s internship office.
Explore College Internships That Meet Your Career Goals
College students typically get 3 summers to find and test out different types of internships within your major before you graduate, so I encourage you to look for relevant summer internships starting your freshman year and start the research process early in the school year. As I mentioned above, the internship application process starts surprisingly early in the school year. Start your internship search in the summer and September so you don’t miss any deadlines. Meet with an internship coordinator at your school to ask for opportunities that meet your interest, major and qualifications. Ask how you can become more competitive for the internship. Your college should also post internship opportunities.
Networking Can Lead to Internship Opportunities
Network with family, family friends, or college friends and alumni to ask for advice on your search for the right internship. Ask for referrals to others who can help. It’s important to first identify what companies you are interested in; then you can ask for specific help from friends and family. Don’t hesitate to ask for help! People who care about you will be glad to share contacts and information. Start using LinkedIn to connect with others in your inner circle to better build your network. This will help you see who is attached to companies and internships that are of interest.
Preparing for Your Interview
I would break the interview preparation/research process into two parts:
1) Research the educational or technical types of questions that might be asked in an interview.
2) Practice answering the interview questions you anticipate. Get comfortable with saying and describing the technical aspects conversationally. Researching technical and education-related questions might take some time – ask friends and reach out to other students who might already have an internship at that company and ask for their feedback. I recently heard that one company asked potential candidates to record themselves answering questions on the company’s website. The candidate only received one chance to answer the question.
You can also ask your college internship coordinator or others connected with your university, including professors, teaching assistants and graduate students, for any information they may have about a specific internship. Once you know some of the technical questions and requirements, practice interviewing and integrating how your experience and studies are a good fit.
Don’t Forget Those Thank-You Emails
Sending a thank you after the interview can go a long way and can be the difference between being hired as an intern or not. This is also good practice for when you are applying for full-time positions after you graduate, so it’s good to start during the internship interview process. Send the thank-you within 24 hours of your interview to all people you have engaged with during the interview process.
Make sure to ask for each person’s email – or you can ask your main point of contact for these addresses. Be sure to personalize these communications, including noting something that you learned or appreciated during the interview. The people who took time out of their day to meet with you will appreciate your gratitude, and it will show that you are taking this application seriously.
In conclusion, start building your resume early, start looking for internships in August and September, network with family and friends, research the position you are applying for and make sure to send a thank-you email to everyone you talk with when you are networking and during the interview process. This may give you the best chance to secure the internship at the top of your list.
Internships are a great way to test out different jobs within your college major and ensure you’re pursuing the career track that’s right for you before you graduate. Internships will also help you build your resume for when you apply for full-time jobs in the future. Good luck with the process!
Disclosure:
Halbert Hargrove Global Advisors, LLC (“HH”) is an SEC registered investment adviser located in Long Beach, CA. Registration does not imply a certain level of skill or training. Additional information about HH, including our registration status, fees, and services can be found at www.halberthargrove.com. This blog is provided for informational purposes only and should not be construed as personalized investment advice. It should not be construed as a solicitation to offer personal securities transactions or provide personalized investment advice. The information provided does not constitute any legal, tax or accounting advice. We recommend that you seek the advice of a qualified attorney and accountant. All opinions or views reflect the judgment of the author as of the publication date and are subject to change without notice. All information presented herein is considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted.
