Guide to MBA Internships in the Washington DC Metro

MBA internships can be just as important as a job for business school students. This makes a lot of sense — your mba internship will play a huge role in whatever job you end up landing post graduation. 

Whereas many MBAs may only have experience in classrooms or in case competitions, internships are the real deal. They are test runs for companies — a three-month trial where graduate students gain real-world experience by working on major projects with paid professionals in actual industries.

If you succeed in your internship responsibilities, projects and goals, there’s a good chance you’ll be rewarded with a job. According to quintcareers.com, several studies show that organizations that offer MBA internships strongly prefer hiring their interns.

The article describes one study that found that not only did employers say they hired more than half of their MBA interns, but they also paid those they hired a higher salary than other new hires.

Another study of employers who offer MBA internships found that almost three-quarters said they first interview previous MBA interns for new positions before opening the position to other candidates.

A third study of MBA candidates found that almost 90 percent of interns were offered full-time positions with their employers, further stating that the internship helped them make key networking contacts and find a mentor.

What things should I consider when starting to think about mba internships?

There are plenty of things to consider about an internship when beginning your search: how do you see your career evolving, which industry do you want to dive into, what type of company do you want to work for, and which city do you want to intern in? Do some soul searching and ask yourself where you’d like your career to go. An internship is the first step.

• Career: Are you trying to get in accounting, consulting, analysis, management, IT, law, marketing, operations, research or sales? There are plenty of roles for someone holding an MBA from a good business school — which will it be for you?
• Industry: MBA internships span a plethora of industries and fields ranging from the obvious (accounting, consulting, financial services, retail), the adventurous (entertainment, technology, healthcare), and everything in between (manufacturing, non-profits, government)
• Type: Will you want to intern for a non-profit, for a start-up, for a large corporation or for the government?
• Location: How far are you willing to move? Are you willing to move to a new metro to pursue a dream job in an ideal industry? For example, it makes sense to move to LA for an internship in entertainment, to New York for finance, or to Washington DC for a job in the public-sector.

Where can I find an mba internship?

If you’re looking to land an internship, you’ll oftentimes need to start planning in the late fall when top MBA employers begin their internship hiring process. In a recent post, we outlined a few different ways to find an internship, including:

• On-campus career fairs and networking events: These types of events offer students the opportunity to meet potential networking contacts.
• Former colleagues, fellow students and MBA alumni: Contacting someone with a shared background or interest can get you great internship leads. What internship did they apply for when they were in your shoes? Could they help introduce you to their former supervisor? What was the interview process like? Inside information like this can give you an advantage over the competition.
• Career Services: Business schools are creating new internship opportunities for their students. In fact, Yale University recently spent $100,000 creating in-house internships. This makes sense: your school needs you to succeed. Lean on the career-services folks at your school to help you with whatever you need.
• The Internet: There are plenty of websites that list internship opportunities of all varieties.

So, what are the best companies, groups and organizations to intern at in the DC Metro?

In the Washington DC Metro, there are numerous opportunities to land a great internship, especially in government/public-sector agencies and offices. A post on Monster.com describes various federal internship programs that are available to students across a wide variety of disciplines. Many of these internships often take place during the summer, including:

• NASA Contracting Intern Program: The NASA Headquarters Office of Procurement administers the NASAContracting Intern Program (NCIP) targeted towards recent graduates in business-related fields. Recent demographic studies revealed that NASA’s procurement workforce in the next five to ten years would likely have insufficient personnel to fulfill the Agency’s Mission. The NCIP was developed in an effort to serve as a training ground for future professionals within the NASA procurement community. For more information visit the NCIP website.
• CIA Graduate Studies Internship Program: This program seeks bright graduate students who are focusing on international affairs, languages, economics, geography, cartography, physical sciences, and engineering. Students will also be assessed for permanent employment. Click here for more information about the CIA Graduate Studies Internship.

If working for “The Man” isn’t quite your thing, Forbes published a slideshow outlining the “Best Internships for 2015”, which described the following as top-notch internships in the DC Metro:

• Bates White Summer Consultant Program: Bates White is a privately held economic consulting firm specializing in advanced economic, financial, and econometric analysis. This DC-based internship program hires 15-20 paid interns over a 10 week period. One intern said: “Real responsibility as a consultant. The work was challenging but extremely rewarding. We worked as part of a consultant team, rather than as observers.” (Forbes)
• Cap Tech Summer Internship Program: CapTech Consulting is a national IT management consulting firm, specializing in digital solutions, systems integration, management consulting, data and analytics and customer experience. While not in DC proper, this internship is based out of Richmond, VA and hires 10-20 paid interns over a 6-12 week period. One intern said: “Learned consulting basics and advanced software development techniques in a fun and friendly environment.” (Forbes)
• Program Innovation Intern (MBA) No Kid Hungry: Share Our Strength, a national nonprofit, is ending childhood hunger in America by ensuring all children get the healthy food they need by connecting kids in need with nutritious food and teaching their families how to cook healthy, affordable meals through the No Kid Hungry Campaign. This internship is for budding entrepreneurs who can work with an Innovation Team within the Program Department of Share Our Strength headquarters in Washington, D.C. (Glassdoor)

Remember: A great internship (and the great job that follows) will help increase your ROI  and really make your MBA worth it!