Many students know first-hand that attending Stevens Institute of Technology can help blaze a career path upon graduation. But many don’t realize that the process for successful job placement starts early in a student’s academic career with internships.
Stevens and its Career Development Office perennially yield robust placement numbers with access to top job opportunities. The Class of 2012, for instance, had a 94% placement rate with full-time employment six months after graduation. Figures for the Class of 2013 will be finalized later this fall. But being prepared for those jobs begins with solid internship experience.
How Stevens and Howe stand apart in job placement services
Experiential education, including cooperative education and faculty-mentored research, has always been a priority at Stevens. Andinternships are no exception. “On the job experience that works hand-in-hand with classroom learning has been a cornerstone of the education that Stevens Institute of Technology provides,” says Lynn Insley, Director, Career Development.
But competition for landing a coveted internship is on the rise. While 47% of employers have internship programs compared to just 3% in the 1980s colleges have upped the ante. More than 1,000 universities offer internship opportunities versus a few hundred a decade ago, according to Internmatch.com.
For the summer of 2013, Career Development at Stevens helped more than 250 students secure summer internships at 175 employers. The Career Development office arms students with the tools, information and employers to create a breadth of opportunities.
“These days internships are practically a standard among entry level workers,” Gerardo Santacruz, a quantitative finance junior who was a markets intern at the Bank of Tokyo Mitsubishi this summer. Financial services, media and entertainment, manufacturing, and pharmaceutical and engineering services are some of the top intern placements for Stevens students.
Santacruz worked on projects “that directly related to my studies. For my first assignment, I had to code a module for our group’s derivatives pricing and analysis application, which performed principal component analysis on the U.S. three-month LIBOR yield curve.” As a quantitative finance major, Santacruz had learned all about that in a Financial Market Micro-Structure course.
Knowledgeable students like Santacruz have helped Stevens earn a strong reputation. The school ranks number 10 on the U.S. News and World Report 2012 Short List of Universities that produce the most interns. In fact, 45% of all Stevens students hold at least one internship vs. the national average of 29.6%. And while interns earned an average of $16.21 per hour for the 2012 academic year, according to the National Association of Colleges and Employers, Stevens students earned $10 to $38 per hour. Beyond income, an internship provides:
- Networking opportunities.
- Real-world trial run at a particular industry or discipline.
- Class and practical experience interchange.
- A post-graduation resume primed for the job market.
A student may like a business, its culture and people, but maybe not the assignment. Networking may provide an opportunity for a better career path.
“Networking is a huge aspect of having an internship,” says Anthony Montufar, a Business & Technology major, who worked his second internship this summer at Prudential Financial in Newark, NJ. Last year he worked with International Business Company Formation. “On a daily basis I was able to meet so many new employees and interns who all work in different departments. Speaking with these people exposes you to new information, stories and connections that you might not have otherwise.”
Professional Work Experience
At Citi, in downtown Manhattan, Jane Malasig, a junior Business & Technology major, experienced the fast-paced environment of a trading floor for the banking giant. “My team and department supported the different applications that Fixed Income Rates traders use and fixed problems. I found it fascinating to watch traders in a frenzy when a big economic event occurred.”
The Citi job was her third internship since she started at Stevens and what she likes best is “the best preparation that you can get for what work would be like after graduation to see if you really enjoy it. It’s a great trial run.”
R. Julian Gallo, a senior Business & Technology major, says that an “internship gives you the opportunity to interview the company and decide if you like them. Most people think that an internship is just about the company interviewing you, but it’s a two-way street.”
Class to Corporate Interchange
Melissa Matos, a senior Business major loved putting the skills she learned in the classroom to the test as a consultant at Protiviti. Early in the assignment she was able to easily execute an Excel training program that’s usually reserved for second or third year consultants.
Additionally, her classes helped her “understand business concepts and use the knowledge to inform decision-making on a technical level,” she says. “Going back to the classroom, I now expect to be more intrigued by my classes and have a deeper understanding because I can see the connection between classroom concept and the “real-world.”
Prime-Time Job Opportunities
A second-year intern, Gallo also did a co-op program. As he enters his senior year, he has already worked for three companies. This summer he was at Merrill Lynch. “I am more marketable for a job after graduation solely because of my internship/co-op experiences. Companies want to hire someone who already has experience in the industry.
While employers get dibs on a knowledgeable workforce, Stevens students get dibs on a promising future.
“Stevens students build their success early with their summer internship,” says Insley. “It’s no surprise that upon graduation they’re able to launch their careers in very impressive ways.”
Stevens works with hundreds of companies for internships and career placements.
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