It also helps you to develop skills for the future and the added bonus of most internships is that you can be offered a graduate job before your final year at university. A recent survey by a higher education research company states that more than one third of new graduate jobs are taken by people who have previously had work experience with the same company. This is especially important in the context of applications, since a 19% increase in applications is expected, although there will only be 6% more jobs for new graduates.
Still, it seems that the jobs market is improving gradually. The report goes on to say that graduates without any work experience have "little or no chance" of gaining a job. This may be a slightly strong statement, but it highlights the way that work experience is perceived by employers. For example, in investment banks, 75% of graduate jobs are given to people who have already worked there, which demonstrates that previous work experience is especially vital in the financial sector .It was also revealed that more than 50% of companies expect to have some kind of work experience and it is unlikely that applicants would be considered without this prerequisite, regardless of their qualifications.
Still, it is worthwhile focusing most on your studies so that you obtain a good degree and then aim to get some experience when you have more free time during the longer university summer holidays. Work experience not only shows companies that you have thought about your future and researched careers in the industry, but also that you have spent time and effort working to improve your practical skills. This can take the form of placements lasting a few weeks, two month summer internships or even a year in industry as part of your degree. Overall, doing work experience will help you to stay one step ahead of the competition and build a range of contacts at a firm. You will have the chance to learn more about the industry and see whether you will be suited to the career in the long-term. The research shows that work experience is becoming ever more important against the backdrop of the difficult jobs market, and so it is definitely worthwhile trying to gain some experience during university.
Arnab Datta
