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  • Internship Business Guidelines

School of Business

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  • Business Internship Guidelines

    Program Purpose

    The objective of the internship program is to provide students who possess the necessary academic credentials an opportunity to receive supervised practical experience in accounting while obtaining credit toward graduation. Although many of our students find and have some sort of employment during their college years, this internship program is designed to offer a more challenging type of experience related to the student's career interest.

    Getting Started

    The initiative for establishing an internship training site may come from the business firm or governmental agency, a faculty member or a student. Each firm wishing to participate in the internship program must submit a program stating what training will be provided to the intern. This program must be approved by the department chairperson and internship coordinator.

    NOTE - Internships in family businesses are discouraged.

    Student Eligibility

    Students must meet the following criteria, in order to be considered for the internship program:

    1. Internships must be approved in advance of the student starting the internship. Internship credit will not be granted for work experience obtained prior to the approval the Internship Application by the School of Business Internship Coordinator. 
    2. A student must be admitted into the School of Business.
    3. Finance: Must have completed 6 credits in MSUM finance courses beyond Finc 340.
      Management: Must have completed 6 credits in MSUM management courses beyond Mgmt 360.
      Marketing: Must have completed 6 credits in MSUM marketing courses beyond Mktg 310.
      International Business: Must have completed 6 credits in MSUM international business courses (Mktg 444, Mgmt 458, Finc 445, Econ 425, Econ 300).
      Business Administration: Must have completed 6 credits of MSUM business courses beyond Mgmt 360.
    4. Each applicant for the internship program shall attempt to schedule his/her internship in such a way that he/she shall have at least one full semester (16 semester hours) remaining at the completion of the program. This is strongly suggested but not required.
    5. The Department Chairperson and Internship Coordinator may waive any of the above eligibility requirements under extenuating circumstances.
       

    Granting of Credit and Grading

    1. Each applicant for the internship program may apply for 1 - 12 semester hours of credit although only three semester hours may be applied toward the completion of any particular major. The balance of the academic credit applied for and earned shall be counted as "free electives". A total of 40 hours of supervised internship training are required for each hour of credit granted.
    2. The internship must be a minimum of ten weeks in length.
    3. A grade of "IP" (work in progress) will be assigned until the following requirements are completed:
      1. At the conclusion of the internship, each firm shall furnish the Internship Coordinator with a meaningful evaluation of the intern's work performance.
      2. Each intern must submit a written analytical report relating the responsibilities of the internship to knowledge acquired in the classroom.
      3. Each intern will submit a daily journal which will include a description of activities, insights gained and hours worked that day.
    4. Grading will be pass/no credit. Requirements must be met for all credits for which the intern registers. Interns may not withdraw from a portion of the internship.
       

    Compensation

    Some interns will be compensated by the firm for activities performed, but need not be at a rate commensurate with that of a regular employee. However, an intern is free to accept a non-paid position.

    For Further Information

    Contact the Internship Coordinator
    Lori Johnson
    Internship Coordinator
    Center for Business Room 204D
    Phone: 218.477.4071
    Fax: 218.477.2238
    johnsnlo@mnstate.edu