The modern interconnected world is about candidates with the skills to work in global marketplaces; therefore, employers are looking for those international internship programs (IIPs) which promise an expedited and efficacious point toward career success. These hands-on experiences abroad provide students with cross-cultural skills and exposure that employers value; indeed, such experiences lead to faster job placements and higher starting salaries.
These conditions notwithstanding, only about 5% of U.S. business students will ever take an international program of any kind. This figure shows a missed opportunity for innumerable students who may not see the enormous benefits that IIPs have over traditional study abroad. Business schools ought to be putting international internships on their menu for students so that they reap a competitive edge that might make all the difference in the hotly contested job market.
In 2003, I graduated summa cum laude from the University of Pennsylvania, believing my study abroad experience in Madrid would make me an attractive job candidate. However, to my surprise, none of the employers I interviewed with seemed to care much about my time in Spain. I left Penn without a job offer, an unexpected setback after years of hard work.
Undeterred, I decided to gain some worthwhile international experience. I backpacked through South America before finally settling down in Buenos Aires, where I worked for eight months as an intern for a local newspaper and taught English to executives at multinational corporations. At the time, I really had no idea how this would be beneficial for my career, but I just knew it would.
I was right. My international internship in the US became a conversation piece in every job interview that I attended. My unique skill set and experience in an entirely different cultural landscape became my unique selling proposition. I was eventually hired as an associate at Kirkland & Ellis LLP, where I represented Latin American companies.
Inspired by my journey, I created Sage Corps, an international internship program to send undergraduates abroad to work at startups. Over 1,400 have participated in the program, and many have reported back with the same positive benefits: international work experience improves employability, which leads to faster job offers and a higher salary.
Education can travel: a tangible foundation. The traditional study abroad program does have its advantages. Participation in study abroad programs for the students has been shown to increase employability rates and raise earning power once employment is attained later on. In a 2021 report, it was stated that studying abroad has a moderate positive impact on the wages earned by graduates. In fact, around 60% of the QS Global 2011 recruiters agreed with this statement that international experience is relevant to recruitment of employees.
A 2017 report by the Institute of International Education (IIE) revealed that most study-abroad alumni acquired skills that employers typically seek for example, adaptability, problem-solving capabilities and communications. The same trend showed in a 2021 study by the Association of American Colleges and Universities which revealed that 44 percent of hiring managers would be “much more likely” to employ individuals who have global learning experiences.
The research does not stop at that. It notes that not all study abroad programs are equally effective. The impact of the study abroad experience, especially its duration, reportedly affects its value, according to a 2020 study conducted by the University of Arkansas. For example, the yearlong programs in Europe had far fewer interview requests than shorter-term experiences in Asia. More important is the ability of the students to tell others how well they have acquired the skills in their time traveling abroad.
The game-changer is the ensuing IIPs of international internship programs. As remote work and global teams are taking off, the importance of IIPs will rise leaps and bounds. An analysis done from over 4,000 hiring managers revealed that 71% admitted to hiring people throughout different countries. This is a clear indication that for many future graduates, work will be across boundaries and cultures. Gaining experience through internships puts students in a good position to excel in their careers because they present certain aspects that would usually take a lot more time in gathering for someone not having experience.
These are clear rewards for the IIPs that make the difference: students who complete overseas internships are likely to obtain higher-quality jobs after graduation. Research shows that the alumni of the internship have been earning 12% more on an average basis in the first year of work than those having no internship experience at all. And the statistics from Sage Corps states that for 87% of participants, jobs have been acquired in less than three months of graduation, which is immensely better than the average official figures on graduates.
Another feature that stands out in IIPs is that there is no comparison between what students can learn in terms of building job-centric and high-demand skills while working into dynamic international environments and what traditional study abroad programs could offer. Interns going abroad will be hired to work in international companies that will require collaboration with global teams, interact within cultural lenses, develop and build international networks, and open up doors for international career opportunities.
Diving into the Importance of Business Schools
Business schools that concentrate on IIPs give an upper hand to the students in today’s cutthroat job market. In fact, these programs offer much more than having the academic experience but the real-world application that all employers are itching to find. Given that such schools usually have IIPs, students gain increased enrollment and higher tuition revenues because their students are seen to have higher chances of succeeding in the job market after graduation.
Thus, IIPs strengthen diversity initiatives at business schools. Data from 2024 indicate that almost half of all IIP-attending students are students of color, a huge difference from that of traditional study abroad programs. Thus, business schools are making global internships more available and, in this way, bringing in a broader range of students and facilitating a more inclusive environment.
The demand for Global Internships has also increased at the University of Colorado Boulder, which established the program to match students with internships outside the country as well as with academic reflection and coursework to make the experience more meaningful. The Ohio State University Fisher College of Business is experiencing similar swelling numbers in its global consulting program, where students travel abroad for various international projects that combine consulting activities with immersion into other cultures.
A Win-win Scenario for All
There is no ambiguity concerning the benefits to students, schools, and employers deriving from the International Internship Program (IIP). Students acquire skills and experience designed to give them an edge in the employment market. Business schools benefit from higher applications and better job placements for their graduates. Employers get a pool of candidates who are well prepared to work across geographical boundaries.
In order for business schools offering IIPs to meet something of a high demand in providing students with international work experience before graduation, these programs must ensure students are truly prepared for successful careers.
Final Thoughts
International internships represent a serious launching pad for any student through the skills, networks, and hands-on experience that are the most valued by employers. The more students can participate in IIPs, the more business schools will prepare a new set of global leaders and give their students a sharp edge over others in the most competitive job market. This is why international internships should be forefront within the modern academic experience.
