Are MBA Internships Paid? Here’s What You Need to Know – Chitkara University

“There are no options to learn about and immerse yourself in the world of work. You can do it through an internship. You can.” – Alexis Harman

MBA internships offer hands-on experience, a networking platform, the opportunity to work in leading organizations based on your performance during your internship tenure, and learning beyond the curriculum. Observe the results.

Using your decision-making abilities and working on projects within and across departments will improve your communication skills and position you as an industry-ready MBA professional.

So, we’ve established that MBA internships are important, but are organizations paying interns?

Paid or unpaid internship, which is better?

Explore.

Are MBA internships paid?

Most organizations pay their interns, but not all. According to his Internshala, India’s leading internship and training solutions provider, from October 2020 to his October 2021 batch, 93% of his students were offered paid internships and 7% were unpaid. I received an offer.

India’s top management colleges facilitate paid MBA internships in industry-leading companies through tie-ups and collaborations. MBA aspirants can explore Chitkara University for excellent internship opportunities.

Ashruti Vohra, one of the students at Chitkara University, said: The faculty at Chitkara Business School helped me during an intensive project and helped me complete an amazing internship. Every student in my batch was offered a paid internship by a well-known organization. “

Which is better, a paid or unpaid MBA internship?

Paid internships are definitely a win-win for employers and interns. Let’s explore why in the next section.

What are the benefits of a paid internship?

• Paid interns are relatively more dedicated, focused, and project loyal than unpaid interns.
• Scholarships help students cover basic expenses such as travel expenses, stationery, etc. This removes financial constraints and improves performance, learning, and contribution to the organization.
• Paid internships are an ethical and humane act and should be followed by all organizations. It is unfair to use the brand name to hire her MBA students for unpaid internships.
• MBA students taking paid internships demonstrate a responsible attitude toward assignments, projects, roles, and responsibilities.

Prashant Mehra, Director of Grant Thornton Bharat, said: The report further notes that people without internships received the same number of full-time job offers as unpaid interns. “

Disadvantages of Unpaid MBA Internships

• A paid internship provides financial stability. Unpaid MBA internships don’t have that. This means that MBA students are less likely to apply for such internships. It may deprive the organization of skilled her MBA students and have to adapt to mediocre internships.
• Organizations may have to spend more time and capital training mediocre MBA interns than skilled MBA students.
• It’s basic human behavior to be casual when you don’t get paid for your work. The same goes for her MBA intern, paid and unpaid.
• A significant number of MBA students take out student loans to pursue management programs. They are indebted and unpaid MBA internships are generally not preferred for most of them.

Some of the Common Excuses Organizations Make to Follow Unpaid Internships

• The main purpose of MBA internships is to learn industry skills, not money.
• We are a startup and cannot afford scholarships.
• Get quality interns without paying a scholarship. why should we pay them?
• Interns need to hold hands and don’t add much value to the organization.

Organizations pursue unpaid MBA internships in the shadow of these arguments.

What have we learned so far?

We find that the majority of MBA internships are paid and preferred by students and employers to improve overall productivity. We also discussed the benefits of MBA internships and explored some expert views on paid internships.

Let’s take a look at the process of getting the best internship opportunities.

How to get the best MBA internship opportunities?

To create a set of rules for getting the paid MBA internship you want, we interviewed several MBA students online and on campus.

Let’s take a look at the tips.

• An MBA internship is an important part of your resume building. Some organizations consider interns first when hiring employees. You need to plan and execute your internship towards your dream job.
• MBA aspirants should look out for top MBA colleges and universities for management programs. Guaranteed experience.
• Explore and enroll in the best MBA courses at Chitkara University, renowned for its industry-recognized management programs and excellent track record of quality internships, placements and more.
• Prepare for your MBA internship and follow strategies to balance semester exams, tests, and extracurricular activities.

Your MBA internship preparation strategy should include:

• Collect all past internship trends and information from faculty, seniors, and alumni.
• Research the companies that come to campus.
• Form and participate in a case study group.
• Draft your resume and have it reviewed by an expert.
• Prepare questions and exercises for GD and PI rounds.

Conclusion

Paid and unpaid MBA internships vary by company. It mostly depends on your HR policy. However, as discussed, paid internships are comparatively better than unpaid ones, and industry experts also support paid MBA internships. This increases the intern’s performance, dedication, and loyalty to her employer, thus increasing the productivity of the organization and helping her hire a skilled full-time MBA professional in the future.

synopsis

An MBA internship in a reputed organization guarantees desirable career growth for recent MBA graduates. Most organizations offer paid MBA internships because they have a competitive advantage over unpaid internships. In this blog, we discuss the benefits of paid internships, the drawbacks of unpaid MBA internships, why organizations should follow paid internships, and tips for getting the best internship opportunities.