What is an internship?
"An internship is a form of experiential learning that integrates knowledge and theory learned in the classroom with practical application and skill development in a professional setting." (Council for the Advancement of Standards in Higher Education (CAS), Professional Standards, 6th edition)
The Williams College of Business (WCB) offers internship opportunities in the fields of: Accountancy, Economics, Entrepreneurship, Finance, International Business, Management, Management Information Systems, Marketing and Strategic Human Resource Management.
Internships may be associated with an academic department in the WCB (For-Credit) or done independently (Not-for-credit). Internships are either part-time or full-time and are typically paid.
For-Credit Internships (when students earn academic credit towards their academic degree while interning) have specific eligibility requirements and procedures. The Williams College of Business determines these guidelines for all business major internship courses Students seeking more information on how to earn academic credit for an internship can be found "here.
Not-for-Credit Internshipsare done by the student independent of the WCB and Xavier University for real world experience. Student who participate in ?not-for-credit? internships are encouraged to complete the Internship Tracking Form.
National Association of Colleges and Employers (NACE) Criteria for an Experience to Be Defined as an Internship
To ensure that an experience -whether it is a traditional internship or one conducted remotely or virtually- is educational, and thus eligible to be considered a legitimate internship by the NACE definition, all the following criteria must be met:
- The experience must be an extension of the classroom: a learning experience that provides for applying the knowledge gained in the classroom. It must not be simply to advance the operations of the employer or be the work that a regular employee would routinely perform.
- The skills or knowledge learned must be transferable to other employment settings.
- The experience has a defined beginning and end, and a job description with desired qualifications.
- There are clearly defined learning objectives/goals related to the professional goals of the studentï¿½s academic coursework.
- There is supervision by a professional with expertise and educational and/or professional background in the field of the experience.
- There is routine feedback by the experienced supervisor.
- There are resources, equipment, and facilities provided by the host employer that support learning objectives/goals.
If these criteria are followed, it is the opinion of NACE that the experience can be considered a legitimate internship.
Why should I have an internship?
There are many reasons that the WCB encourages you to participate in an internship during your studies here at Xavier. Some of these include:
- Develop crucial professional skill set including presentation, communication, networking and interpersonal skills.
- Gain a clearer perspective and understanding of career goals and objectives.
- Earn money to cover a significant portion of college expenses.
- Earn 3 to 6 academic credit hours towards your BSBA degree.
- Earn 3 academic credit hours towards your MBA degree (General Concentration only).
- Position yourself to have a strategic advantage over other graduates by already having professional experience in your field.
- Students who have participated in an internship program are, traditionally, more likely to be hired upon graduation, receive higher starting salaries and receive promotions more quickly.
- The National Association of Colleges and Employers' survey of job recruiters show that their top selection method is now internships, beating out on-campus recruiting.
How long is an internship?
Internship assignments last between 12-16 weeks on average and correspond to Xavier's academic semesters. Students may continue to work their internship past the length of a semester as long as the student and internship company are mutually agreeable.
Students serving a part-time internship will attend classes either full or part-time and work part-time (about 12-20 hours per week). Part-time internships are most common during the fall and spring semesters. Students attending classes full-time are limited to working no more than 20 hours/week (unless they receive approval from the internship department).
Students serving a full-time internship (usually during the summer) will work full-time for a semester (30 or more hours per week), then resume their normal coursework the following semester.
Can I work an unpaid internship?
In compliance with the U.S. Dept. of Labor's Fair Labor Standards Act (FLSA), interns must be paid for their work at a "for-profit" company. Please note that the Williams College of Business will NOT approve academic credit for an unpaid internship at a for-profit company. For more details on the U.S. Dept. of Labor and the FLSA, click here.
Students may work an unpaid internship at a non-profit company or exempt government agency.
What's the average pay rate for an internship?
Students working a paid internship must be paid at least the state or federal minimum wage (whichever is higher). In the State of Ohio, minimum wage is $7.40 as of Jan. 1, 2011.
Students in the WCB generally earn between $10-$12/hour depending on the business major focus of the internship.
Can an intern be considered an independent contractor??
Interns (whether receiving academic credit or not) cannot be ?independent contractors? due to IRS regulations. The IRS has stated that 1099 status (independent contractors) is reserved for individuals who require little instruction on how work should be completed, little training on procedures and little supervision. For more information on ?independent contractor? regulations, click here.