After a semester or two of intensive recruiting, hours of interview preparation, and many highs and lows in an MBA program, thousands of MBA students head off into their summer internships. For many students, this is one of the highlights of the MBA experience. But what do MBA students actually do in their summer internships?
Through dozens of interviews and a survey of 100 MBA students, I gained some answers to these questions, which I’ve summarized here today, and which appear in greater detail in my upcoming book MBA Insider. While each student has their own unique experience, I want to highlight a few of the key insights that I learned from my research.
Landing The Internship
First, when it comes to landing that internship through the recruiting process, the top 3 things that students relied on were
- Networking allowed students to connect with individuals (students, recruiters, employers) to learn more about opportunities, companies, and the industry of their choice.
- Alumni connections helped students learn about expectations and experiences in internships, and specifically about opportunities at companies where alumni currently work
- The Advice of Second Year MBA Students, who recently had internships and previously went through the internship experience, provides exceptional “insider” guidance and tips for navigating the interview and internship process
None of these were incredibly surprising, but the overwhelming agreement on these three things underscores the importance of them regardless of what you are trying to obtain an internship for
What do you do as an MBA Intern?
This really varies across so many variables, such as function and industry, but here were a couple highlights:
Management Consulting
- Profitability Assessment – Conducted a category profitability assessment and provided improvement recommendations for a retailer
- IT Strategy – Built an IT strategy and roadmap for a pharmaceutical company
Product Management
- Media and Entertainment – Built a strategy and roadmap for the launch of a new line of movie titles
- Technology – Conducted economic value analysis of a product line
Internal Strategy
- Transformation Work – Coordinated with Chief Transformation Officer to organize cross functional transformation initiatives across the enterprise
- Business Case – Built a business case for expanding into new markets
What Skills Were Most Important?
We asked MBA students what skills were most important during their internship. These are the top four responses:
- Presentation Development (PowerPoint) – Being able to build a good slide deck was the number one most important skill. This is especially true in professional service-based industries, such as consulting and banking.
- Relationship Building – Navigating a new company without prior experience means you have to rely on others, which is why relationship building is a critical skill. This is not only to figure out how work gets done (e.g., understanding the lay of the land), but also to getting the work itself done. .
- Data Analysis – Pro Tip: If you want to build a killer combination of skills, combine great data analysis with great presentation development. You’ll be a team favorite in no time!
This is just a snapshot and subset of the things that MBA Interns do and learn during their summer internships. For a deep dive of the MBA Internship experience, check out our eBook