There are several benefits to having an internship before, during, or even soon after graduating college. According to the research firm Universum, the potential opportunity to become a full-time employee after completing an internship is one of the main attractions for students. Depending on the industry, there can be dozens to thousands of applicants for a single opening. Having an internship before graduation gives the student and employer a chance to get to know each other and assess the fit. The hiring rate for previous interns is usually much higher than general applicants.

Even if a student does not end up at a company they previously interned at, the experience can provide valuable skills and improve their resume. This, in addition to a good letter of recommendation from the internship supervisor, can be a great resource when applying to jobs at other companies. Employers generally like to see that a recent graduate has at least some exposure to the type of work they will be doing, as well as a being able to perform responsibly in a professional environment. It can be hard for students to correlate their academic experience to their potential as an employee, but having internship experience to reference can make them a much stronger candidate.

The opportunity to earn financial compensation is also a benefit of some internships, but does not need to be a part of the package to make an internship worthwhile. There are also financial benefits that are not as obvious as hourly or salary pay. Some colleges award academic credit for internship experience, thus eliminating the tuition cost of obtaining those course credits. Some internships offer benefits like a housing and food stipend, which may allow students to live and work somewhere away from their school, without dipping into savings. Because internships do not always require full-time commitment, some are offered with part-time hours or the option to work remotely. The benefit for flexible working hours can be highly beneficial to students who may have variable class and work schedules.

Another benefit of internships includes the opportunity to network. During an internship, the student learns about different roles within the industry and the paths that individuals took to obtain them. They make multiple contacts at the company and can maintain them even if those people move on to other opportunities. They can also meet a mentor that guides them through future career decisions, whether or not they end up working together. Interns also gain exposure to peers who may end up in a similar job search after graduation and can provide valuable insights. If they are working with clients, interns may also have the opportunity to impress or make contact with a hiring manager at another company.