Outline:
SUNY Invests Millions in Internships for Students
The State University of New York (SUNY) has taken a significant step forward by allocating $14.5 million annually to fund internships for students. This initiative aims to provide at least 3,500 students with real-world job experience each year, specifically those attending four-year state-operated institutions. However, this funding does not extend to community colleges.
Chancellor John B. King Jr. has set an ambitious goal: to ensure that every student completes an internship before graduating. While this target is still far from being achieved, SUNY officials recognize the need for extensive collaboration with private-sector partners to make it feasible.
Morgan Reed, a UAlbany graduate, shared her experience of seeking internships early in her college career. She started during her sophomore year, exploring different industries while pursuing her business administration degree. Her first internship provided valuable insights, but she quickly realized it wasn’t the right fit for her. By her junior year, she felt the pressure to focus more seriously on her future.
Reed credits her internships with helping her secure her current position at the Center for Internet Security. Through these experiences, she built meaningful relationships and gained a deeper understanding of the company, which significantly improved her chances of landing a full-time role.
Three years later, she continues working at the same organization and now mentors an intern from UAlbany. "It’s extremely rewarding," she said.
Another local company, GP Fund Solutions, LLC, actively hires accounting interns each semester. Their goal is to introduce students to the nuances of fund administration, a less conventional area of accounting. Jordan Kane, an associate manager at the company, emphasized the importance of exposing students to new fields and building brand recognition.
Interns are paid, and by the end of their term, they often perform tasks equivalent to those of a first-year employee. The company maintains contact with its interns, even sending them riddles and jokes, hoping to hire them if they choose to pursue fund accounting.
Despite these efforts, the number of internships offered by such companies remains limited. SUNY officials stress the need to create partnerships with thousands of businesses to meet King’s vision of internships for all students.
The Evolution of Internship Practices
In the past, students often worked jobs and then took unpaid internships to gain experience. However, this trend has shifted. Many high school students are now encouraged to focus on academics and extracurriculars rather than paid employment. As a result, when they enter college, many lack essential skills in job searching, interviewing, and workplace etiquette.
College officials are now emphasizing the importance of gaining these experiences before graduation. Legal changes have also influenced internship practices. After multiple lawsuits, many companies stopped offering internships or reduced their numbers. In 2017, a court ruling allowed unpaid internships if they were primarily focused on learning rather than replacing full-time employees. However, many businesses had already transitioned to paid internships, albeit fewer in number.
For college students, pay is crucial because internships often require paying for credits, which can cost up to $2,000. SUNY-paid internships are particularly beneficial as they are typically located near SUNY campuses. Students who take internships elsewhere often face additional costs for lodging and food, which can exceed what they earn.
King believes that internships are worth the investment for every student. Experience can help secure a first job or even lead directly to one. A prime example is the New York State Insurance Fund (NYSIF), where SUNY subsidizes 100 internships. Before this support, NYSIF had only 46 SUNY interns over two years, but 11 of them were hired for full-time positions after graduation.
SUNY describes these internships as opportunities to learn in unique business settings. Students work across various divisions, including claims, confidential investigations, investments, auditing, and underwriting.
Local Opportunities and Career Guidance
Locally, many companies are eager to hire SUNY students as interns. Last year, UAlbany had 9,000 job postings for its 13,000 undergraduates. The Career Center helps students explore creative ways to find jobs related to their majors and encourages them to start small. For instance, students interested in museums can seek opportunities at smaller, local museums that may offer more access and hands-on experience.
Career Center Director Noah Simon noted that students often make the mistake of applying for highly competitive internships at well-known companies. He advised them to consider smaller organizations that could provide equally valuable experiences.