The value of an MBA internship
History of the MBA
The first MBA was introduced in the 1900s in the Graduate School of Management at the Tuck School of Business at Dartmouth College - New Hampshire. It was originally called the "Master of Commercial Science Degree" and later on it was renamed to the Master of Business Administration degree that we know today. Followed by Dartmouth College, Harvard School of Business Administration was the next institution to introduce the Master of Business Administration course, in the year 1908. Back then not many people went to college and still, 80 people signed up for the first batch of MBA.
The University of Delhis Faculty of Management Studies prepared the first MBA syllabus in India college in the year 1968.
MBA has evolved a lot since its beginnings more than a century ago and is high in demand as it brings many beneficial skills to the table, such as the ability to negotiate between the different departments of an establishment that might have contrasting views, allowing different elements of different nature to coexist - within the institution - and to work in harmony. Specialised MBA’s are becoming more widely available, from an MBA in Medical Services Management to an MBA in Government, aspirants now have more choices than ever.
The value of an MBA internship
An MBA degree program is considered to be one of the most desirable degrees after BBA. Various career options are springing forth for MBA graduate students. The graduates are offered good salary packages and relevant positions which not only garner financial security but also give them job satisfaction with good opportunities.
The MBA program is designed in such a way that it assists graduates to handle a wide range of responsibilities and situations related to the business area. In one way, the MBA used to develops ones in-depth knowledge by supplementing their management skills. It increases their career prospects field by making them suitable for all sectors respectively. It equips one with all required leadership qualities which help one in the corporate and industrial sector. Usually, MBA graduates get a better income than other postgraduates. They start from mid-level jobs and after that, have an added advantage from the beginning process. Most engineering students completed graduation from colleges, and a want to pursue an MBA degree from a prestigious organization in India/abroad can add a lot of value to their resume efficiently.
If you are a student who pursuing MBA or wants to enter an MBA program, you have to know about some important aspects of the entire MBA course. The full MBA course will give so many career opportunities if you completed it with some appropriate duration of an MBA internship. An internship adds value to your MBA degree and easily helps you to choose the career path after completing the MBA program accordingly.
An MBA internship is a brief, learning-oriented work experience spanning some month or maybe even an year with a particular organization that is completed between the first and second years of the MBA degree program relatively. Summer internships are compulsory in some of the business schools to prepare students for the future. Although, an internship as an MBA student will permit you to apply the skills and knowledge you gain in a classroom in the real world of business to your resume accordingly.
How to find an MBA internship
There are many ways to find an appropriate internship. If the internship is related to your course then your university will assign you some of the platforms from where you find internship easily. Many of the universities also make it compulsory to complete a specific duration of the internship with your graduation before getting placed anywhere. They also give marks for an internship. Apart from that, if any student wants to pursue an internship of their basis to sharpen his skills can also get help from the universitys career portal and/or career counsellor regarding opportunities. Your friends, relatives, and professors are excellent resources to collect information about available openings for MBA internships while newspapers and magazines can also become a good friend while searching for an internship.
Importance of an MBA internship
Here we discuss some of the points which described the actual value of the internship which are the following:
- Live examples of Role & Responsibilities
- Provide work experience
- Help to Build your Confidence
- Pre-MBA internships provide hands-on value
- Gain exposure to work profile and build skills
- A great option for a career change and thriving business opportunities
- Engage with Professionals and Create a wide Network
- Establish Strong Business Acumen
- you can start your own company
- Give yourself an edge in the job market
- Convert your internship into a pre-placement offer
- Develop flexible and advanced management skills in students
- High Compensation
Live examples of Role & Responsibilities
MBA internships are an opportunity to work in your interested area and organizations that permit you to pursue your career goals with it. An internship helps to give a live example of the roles, responsibilities where you are currently working and the type of work that you would be undertaking now once you graduate from a business school you will familiar with the companys working structure and management.
Provide work experience
A summer internship with a large organization will provide you practical work experience in your interested area. if you completed, An internship with a good organization or company will add great value to your resume and easily gives you job placement if you are good at your work. This is also a greater opportunity for those who have not any prior work experience in the field which you have chosen to pursue then internship will help them to better their skills.
Help to Build your Confidence
MBA Internships help you to build confidence in your work skills. When you pursue any internship you are exposed to a new environment of the organization. MBA internships help you to build your confidence by sharpening your all skills so that when you go out for a job interview after completing an internship you do not feel nervous because, you have the working experience, appropriate skills require for the specific company. Working with the right attitude works well in the corporate world.
Pre-MBA internships provide hands-on value
We know that The internship is an introduction to the real world of business. It provides an MBA student with the opportunity to mainly understand how the process works in a different commercial world. the internship mainly verifies how business theories work in the application area, and how to apply certain practices learned in the classroom to the business world which is so important.
Gain exposure to work profile and build skills
Your MBA internship will provide you practical knowledge of your chosen field. It includes many assignments and projects to show your work skills and you will be given a chance to make a good impression on the company. Apart from that, it is an opportunity to develop your skills in a particular field with experience first-hand whether you would pursue it as your career path or not.
A great option for a career change and thriving business opportunities
Many students take an MBA program to either change in the industry or advance to a managerial or administrative position where they are. You are not able to handle both situations at once. Mainly MBA students use their management skills to pursue opportunities in new organizations where they have not worked yet.
Generally, it is a good idea to decide the organization and job you plan to before applying to the MBA. Although, it will be easier for you to perform the best MBA for your needs and have clear future goals accordingly. Also, you will get 2 years of experience to develop the skills you need for the job.
Engage with Professionals and Create a wide Network
Networking is very important for every MBA student. After starting the internship, MBA interns are placed in a professional corporate environment. They can get a chance to engage with the company experts and learn a lot from their experience which they are not able to learn in their classroom. During their internships, you should not hesitate to make contacts in the office. Students can easily build a lot of potential networking contacts throughout their internship program which are very beneficial for their career onwards. Here, one can also make the best use of social media platforms like LinkedIn, Twitter, and Facebook.
Establish Strong Business Acumen
Business acumen tells about your speed ad keenness while deciding or understanding a particular business prospect. It mainly revolves around operating your business skillfully. When you Asking or thinking about some questions like "How can we generate the total business revenue? What are the essential key factors that may affect the whole business? What is the overall contribution of an individual in the whole venture?" comes under business acumen.
A way to solve all these difficulties problems and thoughts is by studying the MBA program. MBA mainly helps you to know the ground of all the processes involved in a business.
Its not about the ideas only, it is about making them happen what! If you are the one who has always dreamed about working for yourself efficiently, then it is the time to start. Start with the MBA internship program and give a chance to your dreams to succeed and take you higher in life respectively.
You can start your own company
Many students want to pursue an MBA internship program to become entrepreneurs and try to learn about how to start and grow a particular business in the market. They have a dream to start it and want to know how to turn it into reality by achieving a specific goal. For that, you can also take some real-life experience from some MBA professors in starting a business.
You can also find some MBA colleagues in your internship who have similar interests in this field relatively. Share your business ideas with them and see if they help you. Because to start any startup, its success chances are increases if you have a reliable partner who always is with you. After completing the internship program You will learn how to communicate effectively in the business world relatively.
Give yourself an edge in the job market
One of the most important internship advantages of an MBA internship is that when you finish this 2- year programme and are an MBA graduate looking for a job - those who have work experience are the most preferred options by many companies. Those who had previously been parts of - and had been enrolled in the various MBA internship programmes have relatively more work-related skills than those who are pure freshers. Internship experience makes your resume become more marketable because those who have interned in the field require less training and can handle more responsibilities. You may also receive a higher salary than those who do not have internship experience and starting a new career thereafter.
Early Learning
An MBA internship program provides you with the knowledge of running a business and the skills required for the same, while an internship helps you put those skills and knowledge to practical use and helps one to work on professional skills at an early stage. Before you start working, you needed to implement all the skills required to be a management professional in a relevant degree. A candidate learns deep understanding to develop important business skills such as communication skills, leadership, critical thinking, and decision-making accordingly.
Convert your internship into a pre-placement offer
Many companies use internships to recruit the best mind among all with job opportunities. You are mainly exposed to a network of professionals and hiring decision-makers in a particular organization who will select you permanently according to your performance during the time of the internship. For most of the companies, interns are only the economical way of "trying before buying." If you meet with their expectations, you would be hired easily for full-time employees.
Develop flexible and advanced management skills in students
MBA internship students are mainly fresher business people with a minimum of two years of professional experience in an undergraduate degree.
MBA degree programs help students develop the essential skills needed to keep a company successful. The curriculum and criteria of each MBA degree can be different depending on its specialization field; using some soft skills, you can also develop your personality to match the job profile you want. Some of these softs skills are the following:
- Improve leadership and management skills
- Manage difficult situations such as financial crises, public scandals
- Try to keep the companys finances healthy
- Advertise and maintain the companys positive image
- Develop and promote and sell your specific products and services
- create network connections or partnerships
- interpret, gather and create reports according to organized industry data
- Hire intelligent mind and improve employee retention
- Make tough and emergency calls at the right time
Studying an MBA program allows students to get out of their comfort zone. In an MBA programme, they will get the opportunities to explore the International Business trends, apply for the management tools and their related techniques, and make challenges for themselves to overcome and improve your teams, business, and collaboration.
An MBA is the best way to make prepare yourself for changing the business environment. The abilities you develop through this program are the best tools to give your best for the marketplace.
High Compensation
Many MBA Internships are generally paid, even if the stipend paid is a small amount. The amount paid easily manages to meet the travel and pocket expenses of young students for the work they do in the course of their internship, making it easier for them to navigate their way in the corporate world and find firm footing. Mainly the companies need some dedicated workers for a month or two, whom they can absorb also later on.
Conclusion:
After analyzing all about the value of an MBA internship we have reached the conclusion that there are many internships available for MBA students which helps them in sharpening their skills for job prospect and takes their career in a new direction relatively.
To gain experience in your preferred niche and kickstart your career immediately after obtaining your prized MBA degree, you should go for doing internships before looking for a job - preferably start while youre still a student; this not only makes your job profile stand up but also provides you with invaluable work experience and polishes your work ethic.