Intern Hiring Is Stable for 2024: NACE Survey

Eight in 10 employers surveyed expect to maintain or increase the number of interns they bring in for 2023-24 compared to the 2022-23.National Association of Colleges and EmployersNew research suggests that the levels of hiring college students for internships will remain stable this year.

Eight in 10 employers taking part in the National Association of Colleges and Employers' (NACE) 2024 Internship & Co-op Survey expect to maintain (47.2%) or increase (32.2%) the number of interns they bring in for 2023-24 compared to the 2022-23 academic year. (See Figure 1.)

NACE President and CEO Shawn VanDerziel said the responses illustrate the value employers place on their internship programs.

“For many organizations, internships are an important means for recruiting college talent for entry-level jobs,” said VanDerziel, noting that respondents reported, on average, converting nearly 53% of their eligible interns into full-time, entry-level hires. Most organizations said they are looking for students with a skill set that matches up with the internship experience but, he said, “a previous internship experience — either with the organization or in the industry — also gives the student an edge.”

Data for the 2024 Internship & Co-op Report were collected Oct. 31, 2023, to Jan.5, 2024, with 283 participating organizations. The report explores key aspects of employers’ internships and co-op programs, including hiring projections for the current year, conversion and retention rates, compensation, recruiting strategies, and program structure as well as historical data for trends analysis.

The full report report includes data for: offer, acceptance, and conversion rates; one- and five-year retention rates for employees with internship/co-op experience; overall hourly wage rates, plus trends in wage rates; benefits offered to interns and co-ops; and relocation assistance, including average costs.