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In an increasingly competitive job market, standing out among your peers can be a significant challenge. One avenue that has proven invaluable in overcoming this challenge is participating in business internships and co-op programs to get practical experience, networking prospects, and often, a foot in the door at prestigious companies.  

In the US, the National Association of Colleges and Employers (NACE) reported in 2021 that 75.5% of students who participated in internships received a job offer upon graduation, compared to 61.9% of those who did not.  Business internships provide real-world experience and can often lead to full-time job offers. For instance, Microsoft's highly competitive internship program in the US has historically converted a high percentage of its interns into full-time roles.  

Co-op programs, on the other hand, are structured, often mandatory components of a university program offering extended work terms. This long-term engagement allows students to have deeper integration into a company, greater learning potential, and valuable connections. For instance, Northeastern University in the US boasts a robust co-op program with many students receiving job offers from their co-op employers.

In the UK, a 2023 study by High Fliers Research shows that one-third of graduate vacancies are filled by applicants who have already worked for the organisation through business internships. Barclays Bank, prioritises its previous interns when filling full-time roles, demonstrating the value of these opportunities.

The popularity of sandwich courses, a UK variant of the co-op program, has also grown. These programs offer students a year in industry as part of their undergraduate degree, bolstering their employment prospects. Loughborough University, known for its sandwich courses, reported that 95% of its graduates find work or further study within six months of graduating.

Similarly, in Canada, Statistics Canada found in 2020 that 73% of co-op students had job offers at the time of graduation, significantly higher than non-co-op students. Companies like Shopify offer co-op programs that not only provide practical experience but also give students a chance to work on projects that have a genuine business impact.

Business internships, though shorter and often held during summer breaks, provide students with a taste of the industry and often lead to job offers. TD Bank, one of Canada's leading financial institutions, has an established summer internship program which routinely leads to full-time employment post-graduation.

Choosing between a business internship and a co-op program depends on your university program, career goals, and personal circumstances. Business internships offer a brief, intense experience in the business world, while co-op programs provide a deeper, more integrated experience. Both can be highly beneficial, providing invaluable experience, building professional networks, and often leading to job offers.

At Bearing Academy, our professional consultants will give you useful advice and strategies when choosing your favourite university programs.  

Contact us today for free trial consultation. 

Sources: National Association of Colleges and Employers (NACE), High Fliers Research, Statistics Canada