Summer Intern Candidates Facing Bidding Wars
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Here's your money briefing for Friday, March 4th. I'm J.R. Whelan for The Wall Street Journal. We've told you how the pandemic helped create a job seekers market with millions of workers leaving their jobs for better pay and companies struggling to fill open slots. But that's also happening among students who are trying to land summer internships. Competition for interns has gotten so fierce that some who've gotten and accepted offers are reneging on them to take a better deal elsewhere.
Just like a lot of job seekers, there is demand for people to come in the door. Companies look at their summer internship programs and they're not just thinking about that summer. They're thinking, who can we identify, you know, among this cohort of interns that a year from now we're going to want to bring back or we want to hire full time after the program.
On today's show, we'll discuss the growing leverage students have in the competitive world of summer internships with our reporter Lindsay Ellis. Plus, we'll hear from one student who reneged on an internship offer. And see how it turned out. That's after the break.
This podcast is brought to you by ReliaQuest. Cyber criminals are constantly attacking. They want your data. They want your identity. They want your innovation. ReliaQuest fortifies your business with agentic defense, AI that detects, contains, and eliminates cyber threats in minutes. It helps your security team move faster at the work that matters most to protect the business now and delivers insights to help them predict what's next. ReliaQuest, agentic defense for the enterprise. Learn more at ReliaQuest.com. That's R-E-L-I-A-Q-U-E-S-T.com.
For college students, an offer for a summer internship can mean getting their foot in the door and launching a career track.
What is causing summer internship offer reneging among college students?
But amid the tight labor market, more students are walking away from offers they've already accepted to take an even better one. In a moment, we'll hear from WSJ reporter Lindsay Ellis about this growing trend and the competition for entry-level talent. But first, let's bring in one of those in-demand interns for a firsthand account. I'm joined now by Naja Shambles. She's 21 and a senior at Georgia Tech University majoring in computer science. Last fall, she began applying for internships for this coming summer. Hey, Najah, thanks for being here.
I'm glad to be here.
So Najah, back in October, you landed a summer internship. Tell us about how that went.
Yeah, so I was applying for internships and I had found this opportunity on, I believe, LinkedIn. It was either LinkedIn or Handshake, I believe. And so, yeah, I went ahead and applied and I figured I would have a pretty good chance of getting this internship because I had previously interned with the defense company. And so I thought, you know, getting this internship from this other defense company would be, you know, not too bad. And I also wanted to intern somewhere else other than this previous company, which is why I was applying for other companies. And so, yeah. Yeah, I applied and it took a little while to get back to me, but I ended up interviewing with them once. And then I heard back from them about a month later, I believe, saying that I received an offer.
All right. But then earlier this year, your plans changed. What happened there?
Yeah. So in at the end of November, my recruiter reached out to me on LinkedIn also asking me to apply for a Microsoft internship. And I had already accepted the defense internship.
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