Best MBA Internship Opportunities in the Northeast
There’s no doubt that summer internships play a critical role in an MBA student’s education and career. Not only do internships provide students with the opportunity to gain hands-on experience in the workforce, but they’re also known for helping students develop professional connections and earn top-tier salaries.
But not all internships are made equal, especially for talented business school prospects. For example, working at Apple would likely have a very different effect on an MBA’s resume than working for a small, unknown startup company down the street. And if you’re looking at the top cities across the U.S. where companies actively recruit talent, you can’t go wrong with Boston, New York City, or Philadelphia for your location. But which is the best?
In this article, we highlight the top internship destinations in each city along with the top two schools in each area that will get you where you want.
The Best MBA Internship Opportunities (Northeast)
- Anheuser-Busch InBev (AB InBev) is one of the top MBA recruiters in Boston. They employ 138,000 around the globe and offer a 10-12 week summer internship each year in their New York Office. At MIT Sloan, AB InBev employed nine students from the MBA Class of 2017.
- Boston Children’s Hospital is a top employer in the region and has been ranked by the U.S. News & World Report as the best overall in eight clinical specialties, making it one of the country’s top pediatric hospitals. Being affiliated with Harvard Medical School, it’s no surprise that they are a top employer of MBA students in health care.
- Deloitte has more than 263,900 employees worldwide and is a top MBA employer around the globe. They are a top internship destination for MIT Sloan and Harvard. Last year, six interns from MIT Sloan worked for Deloitte.
Harvard Business School
- Internship Rates: 87 percent of HBS first-year Class of 2018 MBA students sought an internship.
- Median Base Salary (Monthly): $8,000
- Top Industries: Financial Services (26 percent), Technology (20 percent), and Consulting (16 percent).
Sloan School of Management – MIT
- Internship Rates: 77.8 percent of MIT Sloan first-year Class of 2018 MBA students sought an internship.
- Median Base Salary (Monthly): $8,000
- Top Industries: Technology (25.5 percent), Finance (22.7 percent), and Consulting (21.2 percent).
New York City
New York City is known for being a city of opportunity. If you’re willing to live and work in the Big Apple, the positions open to you are endless. Some of the top MBA employers include:
- McKinsey & Company is a global leader in consulting. Nearly half of all incoming consultants at McKinsey have MBAs, and the company is committed to hiring top talent. McKinsey hired 55 total MBA graduates from Columbia Business School last year, and was also a top internship destination, bringing in 25 interns.
- Morgan Stanley offers a variety of NYC internships including options such as a full-time Analyst, Technology Showcase, and more. Morgan Stanley hired 14 MBA interns from CBS in 2017 as well as multiple from NYU Stern.
- Amazon might be headquartered in Seattle, but the company is a major recruiter in NYC. It’s considered the world’s largest company by revenue and has more than 566,000 employees worldwide. Amazon is a top internship recruiter at both NYU Stern and Columbia. In 2017, they hired 23 interns from Columbia Business School
Stern School of Business – New York University
- Internship Rates: 81.7 percent of NYU Stern first-year Class of 2018 MBA students sought an internship.
- Median Base Salary (Monthly): $8,400
- Top Industries: Financial Services (34.8 percent), Consulting (21.4 percent), and Technology (12.5 percent).
Columbia Business School
- Internship Rates: 76 percent of Columbia first-year MBA students sought an internship in 2017.
- Median Base Salary (Monthly): $8,168
- Top Industries: Financial Services (40.7 percent), Media/Technology (20.5 percent), and Consulting (16.5 percent).
Philadelphia is not only the City of Brotherly Love, but it’s a great city for MBA students looking for an internship and a career. There are many top employers who recruit in the area including:
- CITI is a global bank that provides financial services all over the world. The company offers MBA students programs in consumer banking, technology, markets and securities, and more. They are a top Wharton School candidate recruiter.
- A.T. Kearney is a top consulting company in the world that offers a 10-week summer consultant program. With offices based throughout the U.S., they’re a major recruiter at both Wharton and the Penn State Smeal College of Business.
- Dell Technologies offers a variety of internships for MBA students with options to work in business, information & information and technology. Dell hired 6 MBA interns from Penn State Smeal in 2017, the most of any company.
The Wharton School – University of Pennsylvania
- Internship Rates: 100 percent of Wharton Class of 2018 first-year MBA students sought and accepted an internship.
- Median Base Salary (Monthly): $8,124
- Top Industries: Financial Services (35 percent), Consulting (15.6 percent), and Technology (14.9 percent).
Smeal College of Business – Penn State
- Internship Rates: This information was not provided
- Median Base Salary (Monthly): $5,872
- Top Industries: Manufacturing (20 percent), Retail (18.5 percent), and Consulting (18.5 percent).
In the end, it’s important to note that if you attend a top school for your MBA program, you’ll have the opportunity to work at a top company. Most of the companies mentioned in each city were also found recruiting in other locations. For example, you can get an internship at CITI in all three cities, the same with Amazon, Deloitte, Morgan Stanley, A.T. Kearney, and McKinsey and Co. These companies often recruit at top schools, regardless of city or region.
In addition, top schools and top companies tend to pay MBA interns the same salary no matter the location. On average, an MBA intern who obtains a job in a top company in finance, consulting, or technology can expect to earn around $8,000 a month.
At the same time, for those MBA students seeking an internship, there is almost 100 percent placement rate at all top business schools. The percentages come into play based on how many MBA students in each program use the school’s services to find an internship.
In the end, companies, opportunities, and programs are fairly comparable between Boston, NYC, and Philadelphia with NYC offering the most diversity in terms of recruiters.