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The Role of Internships in MBA Education: Real-World Experience and Learning

The Role of Internships in MBA Education

“The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” – Steve Jobs

Hey Fellow readers, So, you have decided to dominate the business world with an MBA, right? That is awesome. But imagine this: you have learned all the things about marketing, finance, and leadership in the classroom, but when it comes to the real world, it is like facing a dragon with a textbook. This is scary, right?

That is exactly where an internship arrives, It is like trusty sidekicks who can turn theory into action. It is just like you are watching a movie but instead of hogging popcorn, you are going to be a director who is calling the shots and making things happen.

One of the articles published in INDIA TODAY says that AMAZON is offering an INR 60,000 stipend per month for students who are looking for a Data Scientist internship. It is worth noting that many other companies may offer more competitive stipends. Just saying!

Top MNCs Offering Internship Opportunities with Salary

Company Name Average Stipend Salary (INR)
Cognizant 4.1 – 6.8 LPA
Intel 6.0 – 8.0 LPA
Ernst & Young 4.5 – 7.1 LPA
R G Technosolutions 2.0 – 5.0 LPA
Deloitte 3.0 – 8.0 LPA
HighRadius 2.8 – 3.2 LPA
TCS 3.0 – 7.0 LPA
Global Healthcare Billing Partners 1.8 – 3.5 LPA
The Sparks Foundation 1.7 – 3.0 LPA
IBM 5.2 – 9.3 LPA

Source- Glassdoor

Types of Internships

You can find Internships in many other industries. For once think of an MBA internship, like you are trying out different flavours of ice cream before getting your whole pint.  It is a phase to test different business areas and see which industry or work you like the most.

You can come across these types of internships:

  • Corporate Internship

Corporate internships are like you are working in a real company (not just making pretend decisions in class). You will get to see how things actually work and maybe even contribute to real projects in real-time.

  • Research Internship

These internships are like science experiments but for business. Here, you will be using the data and other tools to explore new ideas and solve problems. You will be performing a number of tasks like market research, analysing trends, or even develop new products.

  • Professional Development Internship

The whole point of this internship is all about YOU. Here, you will be developing the skills that will make you a superstar in the job market. For e.g.: communication, leadership, or even coding.

  • Service-Learning Internship

Have you ever thought about good karma + business smarts? Here you will use your skills to help people by working in charities, non-profits, and communities while gaining valuable experience.

  • Co-op Internship

You can think like you are in a business band: here you and your teammates will be working together to run a project or even a whole company. You will be learning about teamwork, problem-solving, and seeing how every piece fits together.

Objectives of the MBA Internship

If you are wondering how an MBA internship can help your career, then here is your answer. Refer to the below-mentioned points to learn everything an MBA internship can help you with.

  • Gain Work Experience

It is like you are driving a car for the first time after watching the videos on YouTube. The internship will let you apply what you have learned in class to real-world projects and challenges. You will get to see how businesses actually work from decision-making to teamwork to facing deadlines.

  • Develop Skills

While working as an intern, you will be working on real projects. You will be working with experienced professionals and get a chance to learn from their mistakes (and hopefully not make too many yourself). You have to gain that confidence that screams, – I can do this.

  • Career Compass

Imagine you are lost in the desert of career options. Internships work like your compass that helps you to navigate. Do you want to be a marketing whiz then try pursuing an internship at any ad agency. If you are curious about finance, then shadow a banker for a day. You can try different things, you will discover what you truly love and where your skills shine.

  • Network Building

You can definitely make new friends with other enthusiasts. The internship will give you a chance for professional networking in the same field that you are working in, build relationships, and learn from their experiences. These connections will be super helpful when you start your job search after completing your MBA.

  • Resume Booster

A boring resume looks like a silent movie – no one wants to watch it. Internships will add a flavour of action, adventure, and proof that you are not just a bookworm. It will make your resume stand out like a disco ball in a library, catching the eye of potential employers.

How to Get an Internship after MBA

You have completed your MBA and are itching to put your acquired skills into practice. But the internship search can feel like looking for a ship in the middle of an ocean – leaving you thinking where to start. Don’t worry, here is a simplified roadmap to get the desired internship:

  • Step 1: Know Your destination

This is about which field you are drawn to. Whether it is Marketing, Finance, or maybe Consulting. You have to figure out your dream industry and role. You have to consider these factors too:

  1. Is this internship mandatory for your degree?
  2. Do you need specific hours for credit?
  3. You have to define your goals to focus your search.
  • Step 2: Your Network

Do not just depend on online job boards. You can use your career centre’s job board. It might have hidden gems for you. You can reach out to professors and alumni to discuss job roles. They might have connections or valuable recommendations for you. You can join LinkedIn groups or professional communities that are related to your field.

  • Step 3: Boost Your Resume

You have to polish your resume like a trophy. Highlight your relevant skills and achievements from your MBA programme. You can create a cover page that shows your passion and knowledge about the company. It will be best if you prepare references and recommendation letters beforehand.

  • Step 4: Ace the Interview

Before the interview, do some research about the company. Search about their values, mission, and current projects. You can impress them with your knowledge. Do some practice answering common interview questions. While appearing for the interview, you must be confident and articulate. You can prepare questions for them too. Remember to dress professionally and show up on time. It will make a positive first impression.

  • Step 5: Follow Up like a Pro

Send a thank-you note after the interview, this will express your gratitude and reiterate your interest in the position. Stay connected with the organisation and follow the company on social media and update them on your progress.

5  Blog Links Covering Different Aspects of Internship

Internship Links

Here are some popular online job/internship portals where you can find your desired internship:

Platform
Internshala Naukri
LinkedIn Indeed
Monster Jobs

Takeaway

Always remember, it’s not just about getting an internship – it’s about building relationships and showcasing your potential. You have to be proactive, confident, and open to learning. You have got this, champ!

Bonus tip: You should never be afraid to apply for internships outside your comfort zone. You might discover a hidden passion!

Good luck in your internship quest!

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