If you’re thinking what types of internships for business administration are out there, we have some interesting ideas for you!
One of the toughest things for students to decide is what career path they want to take. Business administration students may have a general idea of that they want to do, but deciding on a profession can take time and experience. One of the best ways to test the waters is with an internship. There are all kinds of internships for business administration students. We’re going to help you understand what types of internships there are and how to go about choosing the perfect business administration internship for you.
What is an Internship?
An internship is an official program that an employer offers to employees, most commonly directed to recent graduates or those nearing the end of their degree. Internships can be done either part-time or full-time, depending on the needs of the employers as well as the work itself. The main goal of an internship is for the student/graduate to gain practical work experience or research-related experience in the field they studied and want to continue a career in.
The length of internships can range from a couple of weeks up to a year. They can also be paid or unpaid. You should always ask whether or not you are to be paid or not, and if employment is guaranteed upon completion of the internship.
Why Get an Internship?
It’s important to note that internships are not mandatory, however they are worthwhile. And there are a number of reasons why:
An internship will help you develop both hard and soft skills. Hard skills such as accounting, economics, finance, mathematics, and statistics will come in handy in a business administration internship. And soft skills like communication, personal effectiveness, presentation, creative problem solving and influencing skills will also be beneficial to succeed.
On-the-job practical work experience is just as if not more valuable as what you studied in school. And learning from professionals is a surefire way to see how the real world works.
An internship allows you to connect with your peers and people in the field that you’re interested in. You can make connections and gain a lot of information that can help you decide your next moves.
Deciding Your Career Path
An internship is a great way to get your hands dirty and get a feel of the job before you invest too much time into it. If after you finish your internship, you realize that it isn’t for you, then at least you tried! You can always change career paths or try a new sector in the business industry.
Many internship employers will end up hiring you after you complete your program successfully. According to Forbes, about 60% of interns get the job.
Types of Internships
Just as studying business administration is broad in itself, so is the direction in which you can take your internship. There are many types of internships available to business majors. We will go through the popular ones and give you an idea of what you would likely be doing, what skills can be learned, and what career options are available.
In general, an internship is going to involve a lot of shadowing a senior employee that is already in your desired role. You will get both hands-on practical experience as well as learning by observation. Here are the types of internships that business administration majors look for.
Sales and Marketing
An internship in sales and marketing is probably going to be in a smaller company or startup where the roles tend to be combined. You’ll learn the skills of marketing as well as how to sell a product, either to consumers or to other businesses. Part of such a role is handling sales calls, preparing presentations, and managing campaigns. Overall, an internship like this will gain you lots of valuable experience and give you a real look at what happens behind the scenes of a company. You’ll see all the ups and downs involved in a career in sales and marketing.
Career options in the field of sales and marketing include: Advertising Manager, Sales Consultant, Public Relations Director, Sales Manager, Marketing Consultant, Account Executive, and so much more!
One of the more traditional types of internships for business students is in corporate offices in the fields of accounting, finance, marketing, product research, and so on. These internships are usually in large firms like Fortune 500 and Wall Street, for example.
There are generalist and specific corporate internships. If you already know that you are interested in accounting or finance, then a specific internship is more relevant to you. However, if you’re still unsure and want to test the waters of what working in a corporation would be like, then it’s better to find a generalist internship. Either way, you’ll learn a lot about how large corporations work, how the teams work together, and all the processes involved.
There are all kinds of careers in the corporate world. Almost all specializations in business are involved in corporations. The most popular careers would be CEO, Manager, Accountant, Human Resources, Financial Consultant, and Senior Executive.
An internship in finance is so relevant today that there are opportunities all around the world for finance internships. New York City, for example, is one of the world’s largest centers for financial markets. An internship in finance can revolve around global investment banking, mergers and acquisitions, client services, business development and commodities analysis. These roles are very hands-on, and you would be gaining real-life work experience analyzing major financial markets, preparing financial models and evaluations using the principles and methods that you learned in your studies.
Careers in finance include: Financial Planner, Financial Analyst, Accountant, Budget Analyst, Loan Officer, and Investor Relations Associate.
A business management internship can teach you a lot, including project management and sales analysis. You’ll learn how to help develop and conduct analyses and discuss business strategy with your team. This type of internship will deal with the more broader aspects of managing a business, so you’ll get an overall feel of how to run a business and see how everything operates.
There are a wide range of careers in the business management sector, such as Project Manager, Production Manager, Management Consultant, Risk Manager, and Business Advisor.
Being a business consulting intern can be applied to many fields, like marketing, human resources, management or accounting. You would learn how to assist in collecting and gathering data or materials in order to analyse them and be able to make recommendations. You’ll need to already have pretty good problem-solving skills and the internship will allow you to improve on them even more. An internship in consulting will also gain you knowledge of business models.
There are quite a few career options in business consulting: Financial Consultant, Human Resources Consultant, Risk and Compliance Consultant, Strategy Consultant, Operations Consultant, and Environmental Consultant.
In a business development internship, you’re going to learn how to conduct market research and assist in partnership development. You’ll also help build business relationships with clients and partners and help contribute to the growth of the organization. As an intern, you’ll learn about what’s involved in building a business and it will give you the experience and skills to be able to run a business of your own if that’s what you’re looking to do eventually.
Business Development Manager, Sales Operations Representative, Account Manager, Client Solutions Manager, and Business Development Executive are all possible career paths.
A product marketing internship teaches you the basics of marketing, involving the collection of data on market trends, analyzing and interpreting feedback on the product of the company you’re working with, and studying the marketing strategies of the company’s competitors. Learning how to market a product and facing the challenges of selling in a competitive marketplace is a great learning experience.
An internship in event planning for business majors can be with agencies that focus on conferences, trade shows, weddings, product launches and networking functions. You would gain skills such as project management, managing and optimizing event budgets and promoting special functions. Organizational, communication, budgeting and time management skills are all important skills for event planning. And most employers look for a few years of experience, so an internship in event planning would gain you a lot of needed experience.
There are lots of jobs in the business event planning industry. Some include: Project Coordinator, Meeting and Event Planner, Event Coordinator, Marketing Coordinator, Event Operations Manager, and Development Specialist.
Doing an Internship Abroad
Remember, a business internship doesn’t have to be done in your hometown. You can complete your internship in another country and gain tons of experience as well as have some fun on the way! Just the act of doing an internship abroad is impressive to potential employers because it shows dedication, flexibility, and ambition. It’s also a great and worthwhile adventure.
Considering how lucrative the world of business is, there are literally opportunities in almost every country in the world as well as in almost every professional field. It’s all a matter of what and where interests you. Let’s say you’re interested in major corporations like Fortune 500 companies — you could look for internships in leading cities like London, New York, Paris, Hong Kong, and Tokyo. Or let’s say that you have an interest in the non-profit sector; countries in developing regions of the world like Central America, Africa, and Asia would have lots of opportunities.
Things to take into consideration are the language barriers, for one. Keep in mind that communication is key, and it would be best to choose a place in which you speak the native language or plan to learn it. However, the international language of business is English, so there may still be opportunities for you abroad.
There is also a factor of environment. You should consider the nature of the place you’re looking to do the internship and see if it will be suitable to you personally. For instance, an internship on Wall Street in New York City is going to be drastically different from a non-profit organization in Sudan.
There are so many opportunities to be an intern abroad. Here are some examples that might inspire you:
- The Intern Group offers sales and marketing internships in Melbourne, Australia. They connect you with top internships in the area, including NGOs and large companies.
- China Internship Placements offers a whole bunch of business internships in China, from finance and accounting to human resources to marketing and sales. Their programs are tailored to your strengths and wishes and you even get paired with a career and life coach.
- IES Internships offers local business internships in London, England. They have a summer program for interns to gain practical experience and learn global leadership skills.
Where to Find Internships
There are lots of methods in which students and recent graduates look for internships. Here are some ideas:
- Search for corporations or organizations that interest you and ask them if they have any internship programs available.
- If you’re still studying, speak with a college advisor to see if they have an internship database or if they can help you find one. Many formal business internships are already in contact with universities.
- Ask people you know — friends, family, parents, professors — if they know of any related opportunities at local businesses.
- Attend a career fair. Most universities hold them from time to time and it’s a great way to network and find internship opportunities.
- Google it! Let’s not forget the good old method of searching online. Search engines like Glassdoor, Indeed, and LinkedIn are just a few of the more popular sites that offer endless options.
If you’re looking to earn a Business Administration degree, here are some reasons as to why it would be a good idea to study with us at University of the People. Some benefits include flexibility of a fully online program, small class sizes, and we can’t forget to mention the tuition-free part. UoPeople also offers career services that can help you find internships and jobs for when you finish the degree. And if you’re looking for other options, there are also online courses that you might like to check out.