Structuring an Internship Program

Students consistently rate the following as key to a positive summer experience:

Meaningful MBA-level work: Project-oriented work with a 10-12 week time span.
First, identify a project or phase within a priority project that an MBA intern could complete for the company. Ideally, the intern will be working with a team and closely with a manager; this helps to ensure that the intern gets to know people in the company and that the work is being directed and integrated back into the company after the MBA completes the internship. Second, from the onset, define the project deliverables. For example, at the end of the summer, will the intern give a presentation, submit a report, or turn over a model? Interns like to have real life application of academic curriculum, the opportunity to build technical skills, and clear expectations and goals.

Work that is similar to what a full-time employee would do.

Ultimately, work that is similar to what a full-time employee would do and adds value is what the MBA intern would like to do.

Exposure: Students accept summer internships because they have a strong interest in the company
they are joining, as well as the industry or functional area of the position. Opportunities to gain broad exposure to the company by meeting or shadowing people in other areas are valued as a way to understand how the company operates and what array of roles exists. Students highly value and appreciate opportunities to experience the industry through conferences or meetings.

Mentorship: Summer interns value the opportunity to have mentors and/or buddies at the firm to
help them learn about the firm and its culture, answer questions and serve as a general point person. Mentors tend to be more senior managers (at some organizations the mentors are the most senior people in the organization) who are formally tasked with supporting and checking in with the MBA intern. Buddies are typically employees who are slightly more experienced than the intern who can help the intern navigate the company and answer questions more comfortably asked to someone in more of a peer relationship.

On-boarding: An organized welcome to an organization creates a strong and positive first

impression. In the best case scenario, there is a formal orientation with an introduction to the firm, resources available and organizational structure to help interns get acclimated. In the absence of a formal orientation, there is at minimum an on-boarding conversation covering basic elements of working for the company. Communication to the company/group about the summer interns arrival, background and work assignment is also key to the summer interns getting off to a good start.

Structured expectation-setting and feedback: Summer interns, like other employees, will be
most effective if they understand what their employer expects from their work. Given summer interns have about 10 weeks to complete a project, it is particularly important that they receive guidance from the beginning on the desired end product. Midpoint feedback to make sure the intern is on track is also a best practice, as is more informal real time feedback. Students very much value the opportunity to learn from managers about how to improve their work and make an impact.