List of Paid MBA Internships in Technology, Finance, and Consulting
For full-time business school students, summer internships are crucial. They provide valuable work experience and can function as trial periods for employers considering new hires after their graduation. In fact, some MBA employers only offer full-time jobs to their former interns.
Finding a paid internship can be notoriously difficult. While course credit, a small stipend, or free work experience are valuable, cash is king. According to the Society for Human Resource Management (SHRM), paid internships are offered most often through private companies. By comparison, public-sector and non-profit organizations have substantial flexibility due to the Fair Labor Standards Act (FLSA) which stipulates these organizations hold decision-making power in deciding whether or not to pay their interns.
At the very least, the SHRM recommends paying interns minimum wage plus overtime. Fortunately, the technology, finance, and consulting companies featured in this article compensate their interns beyond minimum wage. In this way, paid MBA internships create a mutually beneficial exchange of time and talent, as well as future possibilities for employment.
Read on to learn about the most prestigious internships in technology, consulting, and finance.
MBA Internships in Tech Companies
Besides working on projects that match their skills and interests, Google’s MBA interns participate in a professional development program exposing them to the company’s core technical skills and business operations while connecting them with other interns and “Googlers.” The program also offers presentations from company leaders, along with personal mentoring.
Google prefers MBA interns with prior experience in sales, technical sales, advertising, consulting, analysis, customer service, marketing, finance, or operations. Interns can make up to $7,711 monthly.
U.S. locations include New York, Ann Arbor, Boulder, Pittsburg, Austin, and the San Francisco Bay Area. The firm also offers internships in Tokyo, Beijing, Hong Kong, Shanghai, London, and Dublin.
Facebook’s intern program consistently ranks number one on Glassdoor. Facebook interns surveyed by Glassdoor reported that the company’s workplace culture embraces inclusiveness and creativity. They also noted that they felt like part of the team and worked with smart engineers and colleagues on impactful projects.
Like Google, the firm pairs interns with mentors and supports extracurricular activities, such as sporting events, community service opportunities, and networking with Facebook leaders.
Most internships are located in Menlo Park, California and interns can make up to $8,000 a month.
Apple hires MBA interns, although not as many as other firms such as Amazon and Facebook. Most of their internships are in tech. LinkedIn reveals that Apple is recruiting MBA interns for areas in strategic sourcing, product operations/manufacturing design, and product marketing. Some likely received offers through on-campus referrals since Apple recruits from several top business schools.
The firm also pays well, but estimates vary. Interns are reported to make about $6,667 a month. Most interns work at Apple’s Cupertino headquarters or one of the firm’s many other sites spread across California’s Silicon Valley and Austin, Texas.
An MBA internship at Amazon consists of a strategic, analytical, data-intensive project that is representative of a full-time role and focused on an actual business issue. Interns partner with key business groups and clients and have opportunities to drive meaningful change. Miriam Park, director of MBA and university recruiting at Amazon, states that the internship is a critical pipeline for recruitment.
U.S. locations include Seattle, New, York City, Northern California, Southern California, Boston, Austin, Phoenix, Detroit, and the Washington D.C. area. The firm also offers internships in Canada, China, Costa Rica, France, Germany, Italy, Spain, the United Kingdom, Poland, Czech Republic, India, and Japan. Interns can make up to $7,725 per month.
Fortune Magazine ranked the biotechnology giant Genentech as the eighth-best company for employees. Notably, the company has 49.3 percent minority staff with women making up nearly 54 percent of its frontline managerial ranks.
Genentech MBA interns typically have four to six years of work experience in at least one of the following disciplines: sales and marketing, operations, finance, global pharma procurement, pipeline and portfolio planning, or business development. Candidates also may have experience in the biotechnology, pharmaceutical, or healthcare industries. For more information about the process, check out this interview with Connie White, the company’s head of college programs.
While most MBA internships are in San Francisco, additional locations might include Vacaville and Oceanside in California, Hillsboro, Oregon, and Louisville, Kentucky. Interns make up to $48 per hour.
MBA Internships in Consulting Firms
Bain & Company
Bain’s summer associate (SA) program “could quite possibly be the best summer of your life,” states their website. Kicking off with a first week at Ocean Edge on Cape Cod learning Bain’s core consulting skills, the firm’s program appeals to those who wish to experience the real world of consulting while getting insight into a future with the firm. Bain’s head of global recruiting, Keith Bevans, told TopMBA.com, “When we hire summer MBA interns, our goal is that 100 percent of our interns get offers to return full-time at the end of the summer. We’ve consistently been well over 90 percent.”
McKinsey & Company
McKinsey associate interns typically work in teams of three to five consultants, gaining experience in client engagement. Interns gather and analyze data, formulate and test hypotheses, and develop and communicate recommendations. Interns may also present results to clients and implement recommendations with their team. During this process, interns receive training, coaching and mentoring from their team’s colleagues, and also receive support from a local office partner assigned to provide career guidance as well as formal training during the interns’ first few weeks.
McKinsey offers internships across six continents. Applicants should consult McKinsey’s university recruiting website for a list of nations and cities. Interns can make $32,000 over the ten-week program.
Boston Consulting Group (BCG)
BCG works with its MBA interns to understand their interests and assign them to cases aligning with their personal and professional objectives. Interns then work with the firm’s consultants and take responsibility for specific components of client projects.
BCG’s case teams share many similarities with business school study groups, where they brainstorm together to create maximum value. As case team members, interns gain perspectives on life as BCG consultants. Some interns travel nationally (or internationally) and return to their home offices each week for special events. There are ongoing orientations and training sessions that provide insight into the consulting profession, which gives interns some insight into what it would be like to work as a BCG consultant.
Many Deloitte interns receive training before joining client meetings. The firm then assigns their interns to one or more client projects where they are responsible for a portion of the client’s deliverables. Interactions with project teams provide interns with mentorships and support that promote success during client engagements.
Throughout the program, the firm provides ongoing learning events such as “lunch and learns,” industry and service line spotlights, and training designed to help interns develop technical and client service skills. Additional social activities provide opportunities to network with Deloitte professionals. Over the summer, the firm also invites interns to a three-day National Intern Conference to meet Deloitte leaders and professionals, connect with fellow interns from other offices, and learn about Deloitte’s businesses and service areas.
Fortune Magazine ranked the firm as the 11th best company for employees. The firm has more than 80 offices in the United States. Interns can make $30,000 and can get a full year’s tuition reimbursement if they are offered and accept a full-time position.
MBA Internships in Financial Firms
GS summer associates receive a unique insight into how Goldman operates. The firm kicks off its internships with firm-wide orientations covering company culture and employee benefits, followed by division-specific training. Goldman then gives summer associates all the opportunities and responsibilities of full-time employees, while they work closely with external and internal clients. The firm recruits students who demonstrate knowledge of both the finance industry as well as the firm’s products, services, and markets.
There are internship opportunities in cities across six continents, and interns can make about $7,000 per month.
JPMorgan Chase offers various internship programs for MBAs. All begin with a week of classroom training, followed by group-specific training and practical implementation of learned skills in a real-world setting.
In the investment banking program, interns join industry or product groups, developing and executing deals and transactions. Interns also perform financial analyses, conduct research, prepare pitches, and support the origination and execution of transactions. As group experts, interns become strategic advisors to clients, internal partners, and teams.
Internships exist in New York, Chicago, Houston, San Francisco, Hong Kong, and Singapore. All interns make $5,180 a month, including undergraduates.