If you are entering an MBA program or about to start your MBA degree, there is one learning component that is probably on your mind: the MBA internship. What are MBA internships like, and what do they have to offer? 

MBA internships are a crucial component of any MBA curriculum, offering practical experience, networking opportunities, and a close-up view of your future role. This page will offer practical advice on how to find and apply to an MBA internship and how they pay off down the road. MBA internships should be regarded as a great learning opportunity. Read on to see why.

What is an MBA internship?

An MBA internship is a supervised work experience that usually takes place in the summer after the first or second year of an MBA program. The purpose of the internship is to give learners practical work experience in a specific industry. Internship length depends on the student: the experience usually lasts 2-3 months for full-time students, while for part-time students it can take a whole year.

Depending on the company, MBA internships are sometimes paid, sometimes unpaid. Some schools offer college credit for completing an internship; however, this depends on the school or program.

Pay-offs of an MBA internship

Completing an MBA internship offers a variety of benefits to your future career, including:

• Practical experience
• A preview of a particular job/role
• Opportunities to gain industry knowledge
• Financial compensation
• Possible job offers post-internship
• Higher earnings post-internship

It is no wonder that many business professionals look back on their MBA internship experience as a formative one.

What types of MBA internships are out there?

MBA internships are typically concentrated around three main industries: tech, financial services, and consulting. The most common types of companies that take MBA interns on include:

• Consulting firms
• Tech start-ups
  
• Financial services and consulting start-ups
  
• Large tech companies like Apple, Google, Microsoft, etc.
  
• Large consulting firms like Deloitte, Boston Consulting Group, Bain & Company, etc.
  

Many MBA programs partner with industry leaders to streamline the internship-finding process