Come summer, and B-Schools start working on getting the best of the organizations for their students for pursuing internship. SIPs (Summer Internship Programmes) are critical for the MBA students on multiple grounds. The SIP provides students the corporate exposure they are lacking. A period of 6 – 8 weeks is prescribed in the curriculum of all B-Schools, and has a substantial weightage with respect to credits earned by the students.
While some students are extremely serious about these internships, there are some students who have a callous attitude towards them. Students who fail to appreciate and understand the importance of the internships, do not realize the disastrous consequences on their career.
Summer Internships need to be taken very seriously because-
- An outstanding performer can get a Pre-Placement Offer (PPO), which is a great start for any student on his CV. I remember my students at IILM who interned at Deloitte last year got a PPO from the company. Imagine you do not have to worry for campus placements as you already have an offer in hand. You can focus on improving your grades for the rest of your MBA tenure.
- The learnings that a student gains in the SIP helps him to crack the placement interviews, as most of the recruiters are looking for the practical learning gained by the candidates. SIP is the only tangible evidence of their work in the industry, and if they do their internship well, their selection chances in interviews increase tremendously.
- SIP also offers students a great networking opportunity. They can leverage their presence in the company and make good connections in all departments, which can be beneficial to them later in their lives.
- If a student performs well in their SIP, the reporting manager can give the students a LOR (Letter of Recommendation), which is a true reward for them, as it is a document of their proven credentials and helps the recruiters to take cognizance of their hard work and efforts.
- The SIP offers students to adapt himself/herself to the organizational dynamics, understand the interpersonal and interdepartmental relationships with peers and seniors, and get a hands – on learning of the organizational policies, processes and structure.
- The SIP gives students a platform to enhance his personality, etiquette, conduct and team skills at the workplace, which is where his future lies.
MBA Summer Internship Topics
When MBA summer internships are considered, there happen to be many topics that an individual can work on. Some of them are as follows:
- Analysis of market trends and relevant strategies associated with the industry is a great topic. It is quite suited to the overall market analysis and business strategy, providing a deeper insight into the relevant market trends and the various ways in which one can keep up with them. Ways to gain entry into a specific industry can also be discussed with a focus on a certain pain point or providing an overview of the various ways that have been observed by carrying out relevant studies.
- Financial analysis and evaluation of the performance of a company happens to be a great topic for those involved with financial management. The project can provide one with a deeper insight into the way a company works and how its finances are efficiently managed. You get to know what happens to be the best part associated with possible strategies, and what are the various challenges that can be overcome with the practice.
- Optimization of the supply chain and related procedures when it comes to cost reduction happens to be a primary sought-after topic. When it comes to supply chain management, the project could provide one with a deeper insight into what supply chain processes are all about and the various strategies that can be put in place to optimize the process to help with the effective management of financial resources.
- Diversity and inclusion in the workplace is a great topic that can be done by individuals who are working in human resource management. The project for the internship could provide a better outlook on the significance of making a workplace inclusive and the various ways in which diversity and inclusion can be further promoted to create a workplace that is harmonious as well as efficient.
- Consumer behavior analysis, as well as segmentation, can be associated with marketing and brand management-related approaches. The project could focus on analyzing the behavior and various trends associated with the consumers and provide deeper insight into different aspects associated with the same or characteristics that might significantly impact the same at a glance.
- Global business challenges and cross-cultural management are great topics related to international business. The project could provide one with an insight into the various ways and strategies that help with management when it comes to international business. Focusing on the various ways can help one get over challenges and address them effectively as soon as possible.
- Collaboration strategies and open innovation-related topics are associated with innovation management and technological advancement. Projects of this sort could focus on the way things are dynamically evolving in the field of technology and how innovation can be effectively managed to ensure that it benefits humanity as a whole and provides a detailed outlook associated with the same or related topics.
- Healthcare reform recommendations can be an interesting project when it comes to healthcare management, which can shed light upon the various spaces in which the current healthcare structure and policies can be reformed to provide one with something better. While ensuring that the industry can only progress towards improvement and quality care.
- Sustainable practices associated with the development of property and its management happen to be a great topic when it comes to real estate and property management-related interests. Individuals can extensively explore this topic to provide an understanding of what the real estate market is about and how property management plays a significant role in the same or associated topics with this broad range of interests.
- Healthcare innovation and start-ups present an interesting opportunity for one to explore when it comes to the interest associated with healthcare renovation. One can explore this idea to provide a deep insight into what innovation is associated with the medical field and how it can contribute to the well-being of individuals. Focusing on the start-up culture associated with this can also prove to be quite an interesting aspect to consider and enhance when seeking good topics.
- Growing a family business and the various strategies associated with it. Sustaining happens to be interesting to explore when family business management is concerned. It can shed light upon the various ways in which businesses belonging to certain families can be prolonged to yield wealth for generations while ensuring sustainability.
- The effectiveness of customer loyalty programs in retail management can also be extensively studied to gain further insight into what it is that adds loyalty in consumers, how it is relevant to the current market trends, and the impact associated with the same
- Ethics related to artificial intelligence happens to be highly discussed in the current times, given the innovation in technology and business. A project of this sort can shed light upon the various considerations that must be brought to the forefront when it comes to implementing AI across different industries and the pros and cons associated with the same.
Importance of MBA Summer Internship
- MBA summer internships tend to be great opportunities for students to gain extensive hands-on experience when it comes to enhancing their skills and competencies by applying their understanding or theoretical knowledge in a setting which is real-world.
- It can allow the students to align their career goals with their understanding of the subject. Besides this, when companies allow students to pursue internships, students have the opportunity to gain a pre-placement offer based on their performance.
- These are essential components that help the students gain a taste of the corporate world, where they can gain a better understanding of the different roles and responsibilities that might be associated with their roles.
- Individuals also get to analyze their weaknesses and strengths when it comes to gaining practical exposure to the actual role.
- This contributes to the improvement of an individual’s soft skills as well as puts their technical skills to the test.
- These internships also present a great networking opportunity where it allows one to establish the needed connections that might prove to be quite helpful when seeking recruitment or information.
- When preparing for such internships, students prepare, practice, and gain the relevant information that can help them become better.
- The certification provided in the process further adds to one’s overall professional profile.
Top Company that Provides MBA Summer Internship
- Amazon
- JPMorgan Chase
- Deloitte
- Infosys
- TCS
MBA Summer Internship – FAQs
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What is the duration of these internships?
MBA Summer internships tend to last anywhere between 10 to 12 weeks. It depends upon the amount of time that goes in per week from the end of an individual. The company that offers internships also significantly determines the term for the duration, providing an individual with flexible options and a structure that one has to follow.
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How are individuals chosen for the internship?
There happen to be different ways in which companies choose interns for their summer internships. Individuals can apply for the same and a set number of interns are opted for by the company. The criteria vary depending on the internship that is being offered and the company itself. Start-ups and smaller companies also tend to recruit interns through various application processes.
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What should one expect from an MBA summer internship?
Based on the industry of the intern, the overall experience of the MBA summer internships can significantly vary based on the function of an individual and area of interest. Individuals who are working in finance companies work on relevant topics and projects, while those who work as consultants tend to have a team that addresses client problems.
These opportunities, however, provide one with the golden chance to extensively build their network within an organization and gather more information about the inner workings of an industry. One can get acquainted with multiple teams across a business and can further enhance their insight when it comes to carrying out various tasks efficiently.
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Do interns get paid?
When choosing to opt for an MBA summer internship, it often depends on the company whether or not the intern will be paid. It is usually seen that most interns, but not all, tend to have a salary, which can vary depending on their job role, location as well as industry.
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Can one be graded on their MBA summer internship?
Sometimes, business schools tend to award various credits for the effective completion of a summer internship. To be completely sure about the same, one should enquire with their business school and see if that is the case. One should also gather more information associated with relevant evaluation criteria. In such cases, having thorough information regarding the various criteria to meet, the documents to submit, and the overall performance can prove to be usually beneficial to enhancing one’s academic profile.
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Can an MBA summer internship improve one’s chances at a better career?
Taking part in an MBA summer internship can prove to be a huge opportunity to boost one’s career prospects because each internship provides one with extensive exposure and an opportunity to enhance one’s connections as well as expertise. Such internships make one increasingly employable. Once they complete their academics, it has often been seen that a large percentage of students tend to be employed, which is highly attributed to the skills associated with networking, which is a significant development during their internship duration.
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How should I choose the right internship opportunity?
Various factors need to be considered before one makes a choice when it comes to choosing the right MBA summer internship. One should consider factors such as the amount of exposure that is being provided, the diverse experience that one might gain, the opportunity at networking presented and much more. It essentially provides one a taste of actual industrial exposure and job roles and provides one with insights that help them better align themselves to their future career.
Also Read: Impact of Studying MBA on your Career
Summer Internships are a win-win for both the stakeholders involved: the Organization and the student. For the companies, the SIP provides them young and energetic resources who can be hired if found suitable. The cost of talent acquisition becomes very optimal for them. The MBA students can get a plethora of placement opportunities if they take their summer internship seriously. It is up to them how they make the most of it.
Some of the issues that have been seen as far as the SIP is concerned –
- Students prefer to apply in those companies which offer an attractive stipend. For them, the role and brand name does not matter. This is really a poor decision by the student, as what is more critical is their responsibilities than the money they will get.
- Sometimes the students do not go regularly to the SIP office and prefer to spend their time as a summer vacation. This attitude deprives them of the opportunity to demonstrate their KSAs to their potential recruiters.
- Sometimes the company does not give the students meaningful work, which makes the students loose their interest in their internship. In this case, the students should proactively ask for work and show their eagerness to learn through observation and shadowing. It will help create a positive image in front of their reporting managers.
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