Recent studentbeans.com research data revealed that half of U.K. university students are willing to work for free to begin their careers, and 40 percent said they’d accept a minimum wage job. What’s more, one in 10 graduates who left school last summer were out of work six months later, a figure that’s doubled in the past four years.
The numbers are similarly grim for U.S. college graduates. According to The New York Times, unemployment among college graduates under the age of 25 is 8.5 percent, which is 0.3 percent higher than the national average.
With unemployment so prevalent, many recent college graduates are entering the professional workforce the only way they know how: through unpaid internships. But does an unpaid internship really act as a foot in the door into the professional workforce? Or are they just one giant opportunity loss?
Why Unpaid Internships Are Good
Millennial Branding and Experience, Inc. recently presented student employment gap research findings in an infographic featured on Come Recommended. The study found that 52 percent of surveyed employers believe internship experience carries the most weight in the hiring process, and 31 percent of employers hire 15 percent of their interns.
Additionally, if your only other option to an unpaid internship is an unrelated minimum wage position, and the internship actually offers useful experience, then perhaps it makes sense to accept it. (It’s important to note that many nonprofit companies simply cannot dedicate funds to paying interns, so, if you’re looking to enter the nonprofit sector, you’d better get used to empty pockets.)
Why Unpaid Internships Are Bad
It has become increasingly commonplace for universities to require internship experience and then charge for the credits. So not only are you not getting paid for the full-time work you’re putting in during the day, you also have to pay for tuition, housing and other expenses.
A 2011 student survey by the National Association of Colleges and Employers found that not only did 61 percent of interns working at for-profit companies receive job offers (compared to 38 percent of unpaid interns), but they’re starting salaries were higher, too. Unpaid internships also teeter on the ethical and sometimes legal boundaries.
Should I Accept An Unpaid Internship?
I completed three internships before graduating college in May. One of those three (my internship for credit) was unpaid. Driving an hour to the internship’s location and working full-time put a significant amount of strain on me both financially and personally, but in the end, it was worth it. I’m certain that the work I completed at my unpaid internship helped me secure work after its completion.
Internships, paid or unpaid, are not created equal, so before accepting any internship, my advice is this: ask questions and do your research.
Find as much information about the company online as possible. If it’s a publicly traded company, see if you can find its finances; they’ll tell you if the company will be financially healthy enough to bring you on board as an employee after your internship is over. Also research the company’s values and atmosphere. If you accept an internship at a company that’s a poor fit, do you really think you’ll be happier with a full-time position there?
See if you can find the names and contact information of previous interns either on the company’s website or by completing a search on LinkedIn. Former interns will give you much more candid answers about their experiences. The last thing you want to do is sign on to an internship that doesn’t pay and doesn’t provide the valuable experience you’re seeking.
Do you think unemployed college graduates should accept unpaid internships? Why or why not?
