internship

An internship is a period of work experience offered by an organization for a limited period of time. Once confined to medical graduates, internship is used to practice for a wide range of placements in businesses, non-profit organizations, government agencies and political parties. They are typically undertaken by students and graduates looking to gain relevant skills and experience in a particular field. Employers benefit from these placements because they often recruit employees from their best interns, who have known capabilities, thus saving time and money in the long run. Internships are usually arranged by third-party organizations that recruit interns on behalf of industry groups. Rules vary from country to country about when interns should be regarded as employees. The system can be open to exploitation by unscrupulous employers.

Internships for professional careers are similar in some ways. Similar to internships, apprenticeships transition students from vocational school into the workforce. The lack of standardization and oversight leaves the term "internship" open to broad interpretation. Interns may be high school students, college and university students, or post-graduate adults. These positions may be paid or unpaid and are temporary. Many large corporations, particularly investment banks, have "insights" programs that serve as a pre-internship event numbering a day to a week, either in person or virtually.