Internships are on the rise and are offering young employees an attractive route into some of the UK’s top jobs.
According to a new survey, released by the Association of Graduate Recruiters (AGR), nearly three quarters of graduate employers hired interns this year. Over 9,000 internships were on offer, which is a 13 per cent year on year increase in intern vacancies.
The survey also found that by entering an internship, 45 per cent went on to secure graduate jobs in the same company. One in ten employers convert more than 83 per cent of their interns into graduate hires.
Graduates are using internships to find a way into some of the UK’s top roles and to get a chance at gaining a higher salary. Internships of those surveyed were typically two to three months long and paid.
Intern salaries were found to be increasing at a faster rate than graduate salaries. This year, the median wage for an intern was £330 a week, which translates to over £17,000 a year. This is an increase of four per cent, compared to just a two per cent increase for graduate programmes.
Banks, engineering and accountancy firms are hiring the largest volumes of interns. Banks are also paying them the second highest salary of £21,000 pro rata, next to investment banking which pays £30,000. The lowest wages for interns are within the energy, water or utilities sector at around £16,000.
Stephen Isherwood, chief executive at the Association of Graduate Recruiters said: “Organisations are broadening their talent pool by making their graduate jobs more accessible, engaging students earlier and increasing the share of graduates who were previous interns.
“If you need a job, get work experience. As well as a solid introduction to working life, you will develop skills that will make you more employable. Employers value internships in particular as they get a chance to see what you bring to the organisation. Make a good impression and you’re very likely to be offered a job at the end of it.
“Many employers have recognised the benefits interns bring, so invest and place a lot of value on them. However, while the image of internships is changing, coming a long way from its tea-making roots, this isn’t representative of all businesses. Make sure you get the right opportunity for you and have a clear idea of what you want to get out of it. Remember that internships are work, so you should receive at least the minimum wage.”
According to the survey, employers have been making it easier to get into roles. Graduate programmes are becoming more accessible with a reduced minimum academic criteria. Employers are also targeting younger students with the number of higher apprenticeship programmes and school leaver programmes doubling in the last four years.
Internships are on the rise and are offering young employees an attractive route into some of the UK’s top jobs.
According to a new survey, released by the Association of Graduate Recruiters (AGR), nearly three quarters of graduate employers hired interns this year. Over 9,000 internships were on offer, which is a 13 per cent year on year increase in intern vacancies.
The survey also found that by entering an internship, 45 per cent went on to secure graduate jobs in the same company. One in ten employers convert more than 83 per cent of their interns into graduate hires.
Graduates are using internships to find a way into some of the UK’s top roles and to get a chance at gaining a higher salary. Internships of those surveyed were typically two to three months long and paid.
Intern salaries were found to be increasing at a faster rate than graduate salaries. This year, the median wage for an intern was £330 a week, which translates to over £17,000 a year. This is an increase of four per cent, compared to just a two per cent increase for graduate programmes.
Banks, engineering and accountancy firms are hiring the largest volumes of interns. Banks are also paying them the second highest salary of £21,000 pro rata, next to investment banking which pays £30,000. The lowest wages for interns are within the energy, water or utilities sector at around £16,000.
Stephen Isherwood, chief executive at the Association of Graduate Recruiters said: “Organisations are broadening their talent pool by making their graduate jobs more accessible, engaging students earlier and increasing the share of graduates who were previous interns.
“If you need a job, get work experience. As well as a solid introduction to working life, you will develop skills that will make you more employable. Employers value internships in particular as they get a chance to see what you bring to the organisation. Make a good impression and you’re very likely to be offered a job at the end of it.
“Many employers have recognised the benefits interns bring, so invest and place a lot of value on them. However, while the image of internships is changing, coming a long way from its tea-making roots, this isn’t representative of all businesses. Make sure you get the right opportunity for you and have a clear idea of what you want to get out of it. Remember that internships are work, so you should receive at least the minimum wage.”
According to the survey, employers have been making it easier to get into roles. Graduate programmes are becoming more accessible with a reduced minimum academic criteria. Employers are also targeting younger students with the number of higher apprenticeship programmes and school leaver programmes doubling in the last four years.
