"Companies that don’t pay interns are creating a host of recruitment and potential legal challenges that in the long run could cost much more than the relatively small price of paying interns a fair hourly wage.”
Austin, Texas (PRWEB) February 07, 2012
Intern Bridge, the nation’s leading college recruiting research and consulting firm, began releasing data today from its national internship survey completed by over 25,000 students from 250 universities. In the 2011 Internship Salary Report, the firm details the business case for offering paid internships based on this firsthand data. The full report will be released on February 22 during a webinar to discuss the results in depth with college internship administrators and recruitment professionals.
The data trends in this report show that the real-world job experience internships provide continues to be important for college students to have when searching for their first full-time job. Yet, while wages of paid internships grew in 2011, over half of reported internships remain unpaid. Unpaid internships are working against corporate long-term recruitment efforts. Legal challenges to unpaid internships have also continued to increase, creating potential liabilities for companies who employ unpaid interns.
“College students need internship experience to be competitive in the job market when they graduate. Internships also provide a rich source of potential talent for companies. It is a win-win situation for all involved.” said Robert Shindell, director of content and resource development for Intern Bridge. “Yet companies that don’t pay interns are creating a host of recruitment and potential legal challenges that in the long run could cost much more than the relatively small price of paying interns a fair hourly wage.”
The report details that offering as little as one dollar extra per hour could have a direct impact on the student's future career path and acceptance of a job offer. For example, students who were paid an average of $13.80 strongly agreed they would consider working for their internship employer full-time, where students who earned $11.39 strongly disagreed.
The report also details that 77% of students need to work second jobs when working an unpaid internship experience, and that only 35% of the total student population is able to receive any sort of financial support from their parents. This leaves less time available for interns to focus on working for their employers, or requires students to miss out on important academic activities.
"Students are participating in internships for the invaluable work experience provided or academic credit, not the wages they pay,” Shindell adds. In fact, the top reasons student pursue internships have to do with gaining “hands-on” experience in their field of study, to learn new skills, building their network and learning about an industry.
The report and full results will be released in a Webinar on Feb. 22 at 1:00pm ET. Robert Shindell will host “Internship Salary 2012: The Trends, The Data and the Impact on Career Centers, Students & Employers” to review the results in detail and participants will receive a copy of the report. To register, visit http://www.internbridge.com/workshops/wages2012 .
About Intern Bridge
Intern Bridge is the nation's premier college recruiting consulting and research firm. We survey over 25,000 students annually to capture trends of internship and recruiting experiences. The critical survey data is the basis for our work: helping companies build meaningful entry-level talent programs, and assisting career centers to better serve their student populations.
Our work is accomplished through a variety of methods including national workshop tours, online professional development webinars and conferences, publications, custom research, and consulting. Intern Bridge has sold thousands of college recruiting best practices books. Over 10,000 recruiters, managers, and career center practitioners have taken part in our professional development efforts. We have worked with over 80% of the Fortune 100 organizations, in addition to being represented on almost every college campus in the nation.
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