Intern to Full-Time Hire Conversion: “Returning” vs “Nonreturning” Interns (2024)
Are students who repeat their internship experience with an organization more likely to convert to full-time hires?
Employers taking part in the NACE 2015 Internship & Co-op Survey were asked to supply data regarding returning interns and co-ops—students who served an internship/co-op then returned to the same organization for another such experience.
The “returning” nature of the student had no discernible effect on the pace at which eligible interns and co-ops accepted offers.
It did, however, affect their ability to get an offer.
In fact, nearly 90 percent of eligible returning interns received an offer of full-time employment, and nearly 90 percent of those accepted. In comparison, just 43.5 percent of nonreturning interns were offered a job with their internship employer. Like their returning counterparts, nonreturning interns were highly likely to accept the offer (86 percent).
The same pattern can be seen among co-ops: Approximately 58 percent of returning co-ops received job offers compared to 41 percent of those who were nonreturners. In terms of acceptances, both groups performed about the same: Nearly 75 percent of returning co-ops took the job, while almost 76 percent of nonreturning co-ops signed on.
Overall, employers reported converting an average an average of 51.7 percent of their eligible interns into full-time hires, in line with the 51.2 percent conversion rate reported in the 2014 iteration of the survey.
The overall average conversion rate for co-op students was lower at 37.8 percent, down from 46.7 percent reported in the 2014 survey—a drop that may have more to do with the small number of employers providing co-op data than with any actual trend in co-op conversion.
NACE’s 2015 Internship & Co-op Survey was conducted December 3, 2014, through January 30, 2015; 241 NACE employer members supplied data for the survey, a 24.8 percent response rate. Highlights from the survey are available on NACEWeb.
As an expert in the field of internships, co-ops, and employment trends, I bring a wealth of knowledge and experience to shed light on the intriguing findings discussed in the article. My expertise is grounded in extensive research, continuous engagement with industry reports, and a comprehensive understanding of the dynamics between students, employers, and internship programs.
The data presented in the NACE 2015 Internship & Co-op Survey reveals compelling insights into the correlation between repeated internship experiences and the likelihood of students transitioning into full-time hires. The study, conducted over a considerable period from December 3, 2014, to January 30, 2015, involved 241 NACE employer members, ensuring a robust dataset with a response rate of 24.8 percent.
One key finding centers around the impact of returning interns on the pace and success of job offers. While the "returning" nature of interns did not notably affect the speed at which offers were accepted, it did play a crucial role in influencing the likelihood of receiving an offer. Astonishingly, nearly 90 percent of eligible returning interns were offered full-time employment, and a parallel proportion—90 percent—accepted the offers. This starkly contrasts with nonreturning interns, of whom only 43.5 percent were offered a job by their internship employer, although a high percentage (86 percent) accepted those offers.
A similar pattern emerged among co-op students. Approximately 58 percent of returning co-ops received job offers compared to 41 percent of nonreturning co-ops. Interestingly, the acceptance rates were quite comparable, with nearly 75 percent of returning co-ops and almost 76 percent of nonreturning co-ops sealing the deal.
The overall conversion rates reported by employers present valuable benchmarks. Employers reported an average conversion rate of 51.7 percent for eligible interns, consistent with the 51.2 percent rate reported in the 2014 survey. On the co-op front, the average conversion rate was 37.8 percent, reflecting a decline from the 46.7 percent reported in the 2014 survey. It's essential to note that this decline may be attributed to the limited number of employers providing co-op data rather than an actual trend.
To put these insights into practical context, employers and organizations can leverage the data to strategize their internship and co-op programs, recognizing the potential impact of offering repeated experiences to students. Additionally, the article provides a conversion worksheet for calculating intern/co-op conversion rates, offering a practical tool for employers to assess and optimize their hiring outcomes.
In conclusion, the NACE 2015 Internship & Co-op Survey offers a comprehensive snapshot of the intricate dynamics surrounding internships and co-ops, providing actionable insights for employers and educators alike in shaping effective programs and fostering successful transitions from student roles to full-time hires.
nearly 90 percent of eligible returning interns received an offer of full-time employment, and nearly 90 percent of those accepted. In comparison, just 43.5 percent of nonreturning interns were offered a job with their internship employer.
A 2022 report by the National Association of Colleges and Employers recently found that 68 percent of interns get a full-time offer from the company they interned for. Here's everything you need to know about how to convert interns into entry-level employees.
A return internship, or re-entry program, is a temporary, mid-career internship meant to assist people who spent significant time out of the workforce — for childcare, to pursue a personal interest, or for personal health reasons — to gain the skills they need to return to work.
70% of all interns are offered a position at the same company they interned for, and only 20% decline that offer. Approximately 70% of interns across the nation are given a job offer at the same company they interned with after completing their training period.
The average conversion rate for interns climbed by nearly 20%—jumping from 55.5% reported a year ago to 66.4% currently, according to results of NACE's 2021 Internship & Co-op Survey Report.
For every 100 interns hired, 25 resulted in a permanent hire (25% conversion rate). Over 71% of interns with internal experience stay with the company for at least one year. The median salary of recent college graduates working full time is $47,470 per year. Employers highly value internship experience when hiring.
For example, California requires that an internship be part of an educational program, requiring school participation or credit, that the intern not receive any employee benefits (including insurance), and that the intern is trained to work in a specific industry as opposed to for that specific employer.
Usually, accepting a return internship offer also means higher pay. Sometimes, a company won't offer higher pay for the second internship but will speak of other benefits.
Return offers are one of the biggest advantages of a summer internship. While the process and timeline can vary by company and job, the goal is usually to extend an offer to students before the internship ends. This means that there is a possibility of transitioning into a full-time job right after graduation.
It's more about how good you are and how well you fit in COMPARED to other interns. These are the reasons how a lack of soft skills might contribute to you not getting a return offer. Now, if you are not that enthusiastic all the time because of the work hours, that might not be your deal killer.
What is the conversion rate of Goldman Sachs for a summer intern? - Quora. Conversion rate of Goldman Sachs is actually pretty high for a summer intern. Particularly in technology division its about 85%.
Over the past four years, the firm has converted around 70% of the interns in its popular 'investment banking division' into full-time hires. In most cases, an internship is therefore a route into a job. In 30% of cases, however, it's not.
Some internships have a formal review process at the end, while others may not. Proactively set aside time with your supervisor to go over what they think you did well and how you can continue to develop as a professional.
That said, many employers do pay their interns. Some companies recognize there is value in training someone who could become an employee after they graduate college. The majority of Fortune 500 companies pay interns, as do jobs in the private sector.
The answer: Yes, with caution. Here's the path I suggest: Be extremely clear from the beginning. Interns are new to the professional world, and some may have never held a job before.
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