Sunita Somvanshi
Competition for internships has nearly doubled since last year, according to new data from career platform Handshake. The average internship now receives 109 applications, up from 62 in 2023-2024 and just 43 two years ago.
“We’re in this interesting place right now where we’re leveling out from that 2022 hiring boom,” explains Randy Tarnowski, director of research at Handshake. The report reveals that tech internships face the fiercest competition, with 273 applications per posting, followed by financial services (192) and professional services (187).
This surge in competition comes as internship postings have declined by more than 15% from 2023 to 2025, creating what one student described as a “pressure cooker” environment.
“I’ve just been having a lot of frustration,” says Justin Rogers, a junior studying finance and marketing at Elon University. “I’ve applied to more than 100 internships and haven’t yet received one. It makes you a little anxious as well because I’m running really close to summer now, and this is my last summer before I graduate.”
The Changing Value of Internships
The nature of internships has evolved significantly over recent years. What was once considered optional is now viewed as essential career preparation. Handshake’s survey of more than 6,000 students found that 72% see internships as a way to discover which jobs they want to pursue, while 59% consider them an “essential step” toward understanding their career goals.
“When you go back a decade or two decades, internships were a nice-to-have, but now it feels more like a must-have,” says Christine Cruzvergara, chief education strategy officer at Handshake.
Despite this perceived importance, only about half of recent graduates report completing an internship during college. Major barriers include limited opportunities, time constraints, and financial concerns.
Building Better Internship Programs
Companies looking to develop effective internship programs need to focus on structure and meaningful work, according to Tracy Jackson, President and CEO of HR E-Z.
“Internship programs are an investment in a company’s long-term succession plan, and they should be structured with that in mind,” Jackson states. “On the flip side, a poorly structured program can turn off high-potential candidates and waste company resources.”
Jackson emphasizes that successful internships should include:
– Clear responsibilities that challenge interns and contribute to the business
– A designated mentor who ensures interns don’t get lost
– Exposure to different parts of the company
– A final project that gives them something to showcase in future job interviews
“A great internship should include clear responsibilities that challenge interns and contribute to the business,” Jackson notes. “Every intern needs a designated sponsor or mentor. Without one, they’ll get lost.”
Fair Compensation Matters
The issue of fair compensation continues to affect internship accessibility and outcomes. Many industries still offer unpaid positions, which can limit opportunities for students who need to work to support themselves.
“You have to make a choice about what you’re going to do, and often that choice is going to be, I guess I got to work and I got to do my part-time job instead of being able to take the internship,” explains Cruzvergara.
Companies that pay fairly see better results: 82% of interns who felt fairly compensated would likely accept a full-time offer, compared to just 63% of those who didn’t feel adequately paid.
Advice for Students
For students navigating this competitive landscape, timing is crucial. Major companies typically recruit in two main cycles: late August to September and late January to early February. However, midsize and regional companies recruit year-round.
“There are other opportunities,” Cruzvergara advises. “You just have to open your mind to them, and you have to be flexible to be willing to consider it.”
She recommends students:
– Maintain a positive mindset despite the challenges
– Find a mentor who can provide advice and encouragement
– Actively participate in campus recruitment events
– Ask thoughtful questions and follow up with employers
– Keep résumés and job profiles updated
– Research target industries thoroughly
“Your first job is not your forever job,” Cruzvergara reminds students. “It’s an intro into the workforce but it doesn’t necessarily have to be a dream job or a big name as much as a stepping stone into something new.”
As competition continues to intensify, both companies and students will need to adapt their approaches to make the most of internship opportunities in 2025 and beyond.
