Intern “RAT RACE”
While Mr. Ong, who also runs the mental health support group The Catalyst Collective, said he has taken on the jobs primarily to get real-world practice and test out different occupations, friend control also plays a role.
There is a lot of pressure to accept internships because I see people around me taking on numerous internships. Some are even doing it part- time, building and using connections to get these opportunities”, he said.
Mr William, the consultant who took on 10 internships, acknowledged that he might be among those who have spurred the “rat race” that has made internship programmes more competitive. He claimed that it was necessary because he wanted to pursue a profession that lacked the independence of his studies.  ,
There is a lot of competition internationally, according to Mr. William of firms like Bain and Company, McKinsey and Company, and Boston Consulting Group.” It’s very challenging getting into the top three consulting firms.”
You must stand out and go above and beyond to get your foot in the door for that interview opportunity.
Vera Lim, 22, wanted to work on seven internships over the course of the past three years to pique her curiosity while also receiving a small paycheck.
The Deloitte professional services network currently employs the NUS business administration student as a client and markets intern. She began her internship journey with start-ups before landing positions with bigger firms like Deloitte and BCG X, a management consulting firm.  ,
” There’s a lot of people around me that take on more than five internships since it’s so competitive… However, I am aware that by completing so many internships, I’m definitely fueling the rat race.
” It is tough to make it out in the working world and this ( internship ) is one way to stand out,” Ms Lim said.  ,
However, despite her lengthy resume, which also includes running a fitness start-up and volunteering, Ms. Lim has been turned down by numerous banks and large corporations when applying for internships.
She has also taken on an unpaid internship, while another part- time internship was for S$ 300 a month”. I took them because of the experience and only wanted to try something new, she said.
Ms Noreen, the 22- year- old Singaporean studying in Australia, told TODAY she has been told by some companies that they did not pay interns as the interns” gained more than the company”.
However, not all interns leave unpaid, as some schools frequently have recommended allowances. At NUS, the recommended allowance is at least S$ 800 to S$ 1, 000.
Students who spoke to TODAY said they were paid, on average, between S$ 800 and S$ 1, 500 per month.  ,
However, some investment banking companies offer interns much higher pay, with starting salaries for some positions roughly comparable to those for recent graduates.  ,
According to a 2017 report from The Business Times, the monthly internship pay at companies like JP Morgan and Goldman Sachs can be as much as S$ 10, 000.
According to Mr. Felix Tan, founder and CEO of Skilio, the skills-based hiring platform, he has seen some university students create a “four-year internship roadmap” based on the types of businesses they want to intern at while pursuing their studies.
Mr. Tan noted that internships have become not only valuable in helping youths stand out from other candidates when vying for a job but a necessity as many companies are moving away from hiring solely based on academic grades.
Agreeing, Mr Rob Wisdom, director and head of supply chain of recruitment firm Ethos Beathchapman, added that internships can help students identify skill deficits, strengthen their technical abilities and validate their career choices.
Beyond that, these opportunities also give them the chance to make career changes and gain mentor-level knowledge.
Internships can also serve as a springboard for moving up the permanent job ladder and may even help you command a slightly higher starting salary.
” Amid today’s job market uncertainty, it is also good advice to ensure valuable use of all your time. In this sense, many internships can be value- adding and help pave the way into full- time employment”.
A fresh graduate’s resume should include prestigious internships with major corporations, big brands, or forward-thinking organizations, according to Mr. Wisdom.
” These internships are undoubtedly of value because they are frequently competitive to obtain and are increasingly scrutinized by governments or specific bodies to ensure they are not exploitative and give the intern good exposure,” he said.
Highly reputable company names - , such as Google, Meta and JP Morgan- are also keywords that get flagged by , job , application tracking systems.  ,
These systems, which employers and recruiters use to manage job applicants, may raise the bar for candidates applying for such coveted internships, giving them a better chance of getting an interview with the respective companies.