Today I received another offer for an internship in the summer of 2019. Because this is a public blog, I’ll be keeping the companies confidential, but will be briefly outlining my thought process for how to choose the best offer.
Pay – This is naturally the first item to consider, but it’s not just the yearly salary you start at. The applicant should consider all benefits available and also the ability to earn more money in the future. Some industries and companies start high but offer little opportunity for growth, while others start slightly lower but will provide large raises frequently. To make the best decision, an applicant must consider the long-term gains they could see in their salary and how the time value of money also affects the salary.
Career Development – Early on in a career, learning more is incredibly important. Many companies in my area of work offer rotational programs, where new students can be rotated around into different learning groups. This lets the students learn an amazing amount of knowledge and expand their network. Passing up on this opportunity could mean a huge loss in the future for skills you posses and therefore the value you can add to a company. Always remember to consider how your potential employer will develop you in the future.
Work Life Balance – This is a personal preference piece, but work life balance should certainly matter to you. If you are a workaholic and love investing your time in work, you can easily handle a 70 hour work week in the consulting field. However, if you want to spend time with family and friends, a more balanced 40 hour work week will be more appropriate for you. I value having time to study for more exams, so a work life balance is important for me.
Location – This category has always been important to me. State College is so amazing because so many young individuals who you are friends with live within walking distance from you. It terrifies me to get older and not have this same opportunity. For that reason, I am looking to end up in a city after graduation. New York City seems like a great place to do this because so much is going on and happening there, but any city can accomplish this. Another important aspect of location for me is proximity to home. I always thought I wouldn’t mind being far from home, but the more I think about it and the more time I spend at home, the more I don’t want to go too far. My older brother went to school in Illinois and works full time in Seattle, so it worked for him, but I am hoping to at least stay on the East coast.
Even considering all of these factors, I still don’t know the decision I will make. I am lucky enough to be able to choose between a few amazing companies, all of which I would be happy at, but I don’t know which I’ll pick. It’s always a good idea to search for advice, so I’ll be asking some family and friends in the near future for their input which will hopefully make my decision easier to make!