Harold Geneen, former president of ITT Corporation, once said, “In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.” Business internships are a great way to earn this experience; they help you learn many valuable skills that you can transfer to your career later on, and they’re a great way to meet professionals already working in the field. And perhaps most importantly, hands-on internships in business will help you decide if this is really the right career path for you.
Of course, you may be drawn to the high wages that many jobs in the field offer, like that of marketing manager, which according to the Bureau of Labor Statistics pulls in an average annual wage of $108,580. Executives and higher-ups in companies can make even more than this, which is another key aspect of the field: there is a lot of potential for growth, and that’s why interning in business is such a popular trend.
Your internship itself can be a great first step, as many business interns eventually get hired on at the companies they work for during college. Overall, there are many benefits to business internships, and even if you’re not getting paid, like Geneen says: the cash will come soon enough.