University of Iowa News Release
Nov. 13, 2003
MBA Summer Internship Program Provides Talent For Employers
With a tight economy and a burdened workforce, how does a company devote the time and resources to explore options for cost savings, business development or product marketing? Many companies are turning to MBA interns for timely support for such projects and these companies have found great returns on their investment.
Take, for example, Eldridge, Iowa-based Olsen Engineering, L.P. President and CEO Kevin Code, who hired a Tippie MBA intern last summer. Student Marc Dorau worked on developing a global strategy for Olsen that explored worldwide sourcing options. "His work helped us develop a strong understanding of the global market to determine how we could use worldwide resources to be more competitive and profitable," Code said.
Between their first and second years in the Full-time MBA Program, Tippie MBA students spend the summer working in internship positions. Like Dorau's experience at Olsen Engineering, these relationships have proven to be beneficial for both intern and employer. In addition to the rigorous business curriculum they are currently studying, MBA interns bring experience from previous employment that can be very helpful in their roles as interns.
"Marc's experience in world-wide logistics was helpful to Olsen in our pursuit of global information," Code said. "I can't say enough about the work Marc did this summer at Olsen. In 10 weeks, he was able to begin the foundation of a legitimate business opportunity that could help the company succeed in the future."
Current Tippie MBA students bring a wide breadth of experience ranging from Abbott Laboratories to the Peace Corps and Cessna Aircraft Company to the J. Walter Thompson Advertising Agency. The average Tippie MBA student has had more than four years of work experience prior to returning to pursue the MBA degree. In addition, Tippie students have a variety of interests. Some are looking for work in arts organizations while others are hoping for banking/financial services, brand management and marketing, or high-technology industry work.
With the new fiscal year approaching, employers are encouraged to budget for an intern for summer 2004. Typical MBA internships last from eight to 12 weeks, and the interns are paid an average of $3,500 a month for their work. Beth Knudson, MBA director of internships, works closely with employers to find the right MBA student for their company, by analyzing their current needs and potential projects. Information on MBA internships is available by calling the MBA Career Services Office at 319-335-1021 or by emailing firstname.lastname@example.org.
STORY SOURCE: University of Iowa News Services, 300 Plaza Centre One, Suite 371, Iowa City, Iowa 52242-2500.
CONTACTS: Media: George McCrory, 319-384-0012, email@example.com.Writer: Barbara Thomas
ADDITIONAL INFORMATION: http://www.biz.uiowa.edu/mbacareers/