Internship vs. Externship: Know the Difference
The best way to position yourself for a job after completing your studies is to add experience. In simple terms, the more experience you have, the stronger a candidate you’ll be. Internship and externship offer an opportunity to add to your skillset. It can be acquired by exploring new career fields, navigating the business world, and gaining professional work experience.
An internship can lead to a full-time job by choosing the right job offer. For instance, when employers have two equally qualified candidates, the candidate with internship experience has a high chance of getting hired. According to the National Association of Colleges and Employers (NACE) Job Outlook, 2020 revealed that a candidate with an internship on the resume gets selected for the job.
Meanwhile, the NACE’s 2020 Internship & Co-op Survey Report stated that the job offer rate was 68% for candidates with internship experience. Also, those employees stayed longer with the company than those without internships. Furthermore, the one-year retention rate for internal hires with internal experience is 68.7%, while 55% for external internship experience, and 40.3% for candidates with no past experience.
Internship as a Useful Stepping Stone
Now the companies have few requirements for the freshers before hiring them, such as an internship. All freshers applying for jobs should have a proper internship. It is observed that most employers utilize the internship pool of candidates first when considering new hires to fill the vacancy. Internships are considered an interview and train for the next set of new hires for the organization. It is always to have an idea of what a person will perform. Also, fit into an organization rather than spend him/her training for a future job.
- Hire interns during the fall semester of the previous year. Assigning interns with real work assignments, treating them as a part of the team.
- Providing interns with compensation and benefits makes them feel invested in the company and appreciate their work.
Getting a taste of a corporate world
Many recruiters visit college campuses to select the most talented and internship programs. Nowadays, due to covid virtual interviews are also possible. Internships can be of any duration and it depends on the organisation’s willingness to offer paid internships or stipend paid internships from work from home. It opens doors for the students to learn and work in a corporate world. Students benefit intern from experience, polishing their skills, and updating their resumes. As an intern, it is vital to develop relationships with internal and external people of your department, you never know a good opportunity may come to you.