Cheezhead Recruiting News and Opinion

When the nuts and bolts of corporate structure are tightened and employees are laid off, interns are the best way to keep up with the added workload. Though interns are vital to the corporate stability in an economic recession, new competition for intern seats are now leaving qualified candidates in the dust.

As if the months of searching and applying to get an offer for an internship weren’t time consuming enough, an opening at those same internships is now becoming increasingly slim. The economy is re-shaping the internship market, so while there are more applicants than ever in the pool, fewer companies have the money, space or time to reel them in.

The new big time player in the competition for an internship is the graduate student. Only 20 percent of the nation’s graduates from 2009 actually have a full-time job, and of those, 73 percent completed an internship during their undergraduate term, according to the National Association of Colleges and Employers.

The national influx of unemployed, deferred or laid off college graduates has lead to a renewed interest to seek internships. While it’s probably not the route to pay off student debts, graduates are looking to internships to gain experience, keep their foot in the door and stay marketable.

While this seems to be the safest option for the young and unemployed, undergraduates are now contesting an older crowd potentially equipped with more relevant coursework or related experience to an internship. Still, employers may prefer and be accustomed to the fresh ambition of undergraduates, leveling interns to the same playing field, but adding more bases to reach before securing an internship.

However, with 80 percent of the 2009 graduates looking for employment and not competing with a school schedule, we may see employers begin to favor the older intern. A graduate intern can work past the first week of August, and may stick to the job quicker than a college junior who has another summer to try out another company. This may also mean that this year’s 2010 graduates should keep internships in the back of their minds for after graduation, and apply for both full-time and internship positions.

While there has been a nationwide 21 percent internship cut, according to a survey by NACE, the number of full-time job cuts has increased at an even higher rate. Decreased budgets account for a greater number of unpaid internships and more people are willing to accept the unpaid job in order to gain coveted experiences. “Will work for a free lunch and a good recommendation” seems to hang like a nameplate on every applicant.

Companies hiring, like Verizon, which according to BusinessWeek, hired 10 percent more interns than usual, are flooded with amply qualified recruits. For companies, the added competition is ideal. Since there are, say, more Ivy League individuals without promised jobs who are hungry for internship experiences, more companies get a better pick.

It does take time to find suitable interns and develop a several-week program, but internships are also a small loophole to hiring freezes. Temporary interns help to relieve the qualms of companies needing entry-level work and unable to hire a full-time new employee. An intern can fill that spot temporarily. 

Due to the added need for interns and increased competition in the cart, internships are becoming invaluable to a successful future. The best way to beat the competition is to stay in the forefront of conversation. With so many competitors, individuals’ selling points become quickly forgotten without regularly refreshing and re-engaging with companies. Individuals seeking internships can do this by starting the search early, keeping up regular conversation with a corporate representative, utilizing social networks to spread visibility and staying active so that there is always a new story to tell.

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