Gone are the days when university and polytechnic graduates were guaranteed a job. As competition for top jobs heats up, graduates of tertiary institutions need to rely on other factors such as extra-curricular activities and volunteer experiences to stand out from the crowd.

But one area that employers will most certainly zoom in on is whether those seeking jobs for the first time have done internships.

While the theory can be learnt in the classroom, applying that knowledge and skills during internships helps puts things into a real world context.  

HOW EARLY IS TOO EARLY?

Many students ask when they should start their internships. The answer is simple — the earlier the better. At NUS Business School, many of our students graduate with three or more internships on their resume. Some students even take a leave of absence to embark on six-month internships overseas.

For internships with banks, consulting firms, fast-moving consumer goods’ companies and energy firms, they have a fixed hiring cycle with application periods ending in October. Miss this window and you will miss the summer internship opportunities with these companies.

While internships at multinational companies (MNCs) and big brand names are coveted, do not discount the start-ups.

Unlike many MNCs, start-ups are not afraid to take first-year students as resources are scarce.  

In such organisations, all hands are expected to be on deck and no task is insignificant. Interns are thrown into the deep end and this can help build character and confidence.

Start-ups are often more willing to give important tasks to interns who demonstrate initiative and involve them in major decisions.

I DO NOT KNOW WHAT I AM INTERESTED IN

For those who are unsure about their career options, completing internships is a good way to find out. A few years back, I spoke to two first-year students who were interested in working in the aviation industry.

I initially thought it was an unusual choice but it all made sense after they explained that they had worked with SATS — the ground handling and inflight services company — at Changi Airport while waiting to start school. Theirs is a good example to show internships can help you gain exposure to new industries.

Many students who are interested in marketing are keen to get into the fast-moving consumer goods sector, mainly because they are familiar with those consumer products. But they overlook business-to-business sectors such as aviation, which can be very exciting and rewarding as well.

It helps to pay close attention to job descriptions that are of interest. This will allow you to identify gaps that need to be filled before graduation.

For example, consulting jobs require good case analysis and application, while investment banking roles require a good understanding of risks, financial modelling and how to read people.

GETTING IT RIGHT, AND BUILDING ON IT

For those who are sure of the job function or even industry they want to pursue, each subsequent internship is a stepping stone to the job that they want when they graduate.

I recall a final year accountancy undergraduate interested in consulting.  She had no prior case training in consulting compared to her peers. I encouraged her by saying that it is still possible if she is willing to work hard at it.

She decided to extend her studies by taking her Masters in Management at NUS. With one additional year, she managed to secure two consecutive summer internships — first as a strategy advisory intern at KPMG for two months in Singapore and another at McKinsey & Company as a summer business analyst in Jakarta.

Her perseverance and outstanding performance resulted in her being offered a permanent role at McKinsey upon her graduation from the Masters course.

SHOULD I ACCEPT AN UNPAID INTERNSHIP?

Rarely do we meet students who take up unpaid internships. Even start-ups and SMEs can secure government funding to hire interns as long as they meet the requirements. Most of the internships our students take up pay a nominal salary of between S$800 and S$1,000.

If a company does not pay, it is advisable to find out why. In the few cases of unpaid internships I have seen, either the company does not typically hire interns, or they are roles that students seek out on their own to gain a skill or experience they cannot find elsewhere.

NETWORKING

Internships are the easiest way to network. If you get along well with your colleagues, they can become friends or even mentors later on in your career. Through building these relationships, it will also facilitate the request for a testimonial to support your resume.

In the past, many would ask the company for a written testimonial. The modern thing to do is to connect with colleagues you meet during your internship and invite them to write you a LinkedIn recommendation.

As you collect LinkedIn recommendations throughout your career, it paints a consistent picture of who you are based on your skills and attitude.

GETTING THE MOST OUT OF IT

Besides the roles you can update your resume with, it is the hard and soft skills that you pick up during an internship that are more important.

To make the most of internships, be curious and open to learn beyond the tasks that are assigned to you. If you do not understand the rationale behind a decision or the impact of your work, do not be afraid to ask.

I counselled a second-year student who had already completed a digital marketing internship.

When she applied for another with a prestigious financial investment house, she failed her interview miserably because she could not explain the rationale for a social media campaign she was involved in and had very little understanding of what a successful campaign requires.

Needless to say, she learnt an important lesson from this experience.

Internships are the secret weapon to help boost a fresh graduate’s resume and help him or her be noticed. To secure relevant roles, do your research and find out what trends are affecting the company and industry that you are interested in.  

Once you are hired, carry out your role with professionalism, ask smart questions and expand your network. With all these factors in place, you are essentially setting yourself up for success in your future job hunt.

ABOUT THE AUTHOR:

Kenneth Lam is a career advisor with NUS Business School’s Career Services Office, which works closely with business undergraduate and postgraduate students to prepare them for their careers ahead. This is part of a series of career-related commentaries which TODAY will be running in partnership with the school.