Many higher education institutions have long since sought to incorporate hands-on, career-related experience into their program structures in order to prepare their students for the workforce. Supporting this, recent research illustrates that access to applied learning in the higher education setting directly impacts student outcomes and achievement.
The benefits of offering work-related experience to students is twofold in that it not only generates higher success rates for graduates, but it also attracts incoming students. According to a report from Strada Education Network, students who acquire paid internships within their field of study demonstrate a stark increase in earning power, agency, and pride in their education when compared to students who obtain an unpaid work-based experience. Therefore, it is imperative for higher education institutions to partner with businesses to provide student access to paid internships.
Strada’s report, “The Power of Work-Based Learning,” highlights four critical findings pertaining to paid internships among students:
- Students with paid internships have reportedly higher earnings in the post-graduate setting,
- Students with paid internships obtain higher rates of career satisfaction,
- Students with paid internships experience increased confidence, agency, and perceived value in their field of choice, and
- Students have inequitable access to paid internships.
These findings not only supplement the industry's knowledge of the multifaceted benefits of providing paid applied learning experiences for students, but also indicate the barriers that remain for many students and charge higher education entities to strive for equitable access to ensure successful student outcomes. Deeper meaning for each finding is discussed below.
Students with paid internships have reportedly higher earnings in the post-graduate setting. Students who held a paid internship during their undergraduate career earn on average $4,755 more than those who did not. Moreover, the results demonstrate that obtaining a paid internship as an undergraduate is linked with a predicted increase in annual wages of $3,096 merely one-year post graduation. This payoff is only applicable to students who held paid internships, whereas unpaid work experiences showed no statistically significant pay increase in their post graduate annual earnings.
Students with paid internships obtain higher rates of career satisfaction. Students who held work-related experiences in the higher education setting report greater beliefs that education aided in the achievement of their goals, greater career satisfaction, and assurance that the cost of their education was justified and worthwhile.
Students with paid internships experience increased confidence, agency, and perceived value in their field of choice. When compared to students who held unpaid internships, did not have internships, or held jobs related to the field of study, students with paid internships within their field of study report higher levels of self confidence. They also have higher reported percentages across the board in terms of perceived support from their school to make meaningful connections between the classroom and career, understanding of the job market and various related career options, networking abilities and connections to professionals within their field, and confidence in their honed knowledge and skills to be successful in their industry of choice.
Students have inequitable access to paid internships. Results from Strada’s report demonstrate significant differences among racial and ethnic groups of college graduates in terms of having a paid internship. These staggering results hold true even when accounting for differences related to the field of study. Opportunities to pursue quality internships are relatively rare and people of color, women, and individuals from lower socioeconomic backgrounds are less likely to hold these opportunities, especially paid internships. Strada’s report indicates that barriers to access prevails and it is up to higher education leaders to work towards bridging the gap and creating equitable opportunities for all students.
The question now is, “how can these experiences be scaled and made accessible to more students?” Colleges and universities have the power to manufacture meaningful partnerships with desirable businesses, employers, institutions, and other government or philanthropic agencies to generate funding for imperative student experiences and to target underserved populations on campus. Ultimately, “expanding access to such high-quality experiences is a promising way to improve equitable outcomes for students in their career and personal development.”