Accounting Formal Spring Internship
- The formal internship is primarily designed for second semester seniors, although first semester seniors can also intern in the spring. You must have 90 units completed before you intern and you must have 18 credits of accounting courses completed (excluding Accounting 244). Auditing (Account 465) and Tax I (Account 451) are also highly recommended before interning.
- The internship is a full-time job from early January through April 15th. Students receive 6 units for the internship and up to 6 units by enrolling in two courses (Cost Management II and Administrative Policy) for the last 4-5 weeks of the semester. Do not plan on taking classes while you intern.
- There are two meetings in the spring semester of the junior year to help prepare you for the entire internship process. The first meeting lays out the general guidelines of the program to help you determine if this is something you wish to pursue. The second meeting is more in-depth, and includes discussions on resume writing, interview preparation, registering with Career & Leadership Development and so on. The focus of these meetings is to get you prepared and ensure you are fully informed on all aspects of the internship process. On-line sign-up for internship interviews starts in mid-August. You must be registered with Career & Leadership Development to sign up. Students are encouraged to obtain 6-8 interviews in order to get exposure to a variety of firms.
- There are two meetings in the Fall. The first meeting is held in September, prior to the start of interviewing. At this time, we will speak about what you need to do for grad school before you start interning. We will also discuss any last minute questions you may have before going into interviews. A second meeting is held in early December. At this meeting, we will discuss your responsibilities as an intern, and also address other issues prior to your formal internship.
- THERE ARE NO GUARANTEES. You need to be able to "sell" yourself during the interview process. Career & Leadership Development offers mock interviews to help you prepare. Bill Tatman, Accounting Internship Director, also has experience in interviewing and will be willing to work with you, but YOU need to take the initiative to be prepared for the interviewing process.
- Do your research and prepare yourself for interviews. In order to make this a meaningful experience for both you and your potential employer, you need to conduct research on the firms you are interested in. Most firms have websites with valuable information. Career & Leadership Development has brochures and information on most firms. You should also read the papers of former interns to hear about their experience at a particular firm. These papers are on the D2L internship course.
- You may have the opportunity to meet with firms over the summer, either through formal or informal settings. This is a great way to obtain valuable insights on a potential employer. However, you will still be required to go through the formal interview process. Firms are not allowed to give you offers outside of the process, and you should not pressure them to do so. The interviewing process is crucial. It ensures that you see all the potential employers of interest to you, and they in turn see all of the potential candidates. It also ensures that all firms and students are treated equally and fairly throughout the process.
- Students are assigned to firms based on a "matching process." When interviews are completed, you will be required to turn in a list with the firms ranked. You will rank employers and reveal the strength of your preference by assigning "points" among employers. A form will be distributed to you to complete this process. The firms will also rank the students they have talked to. A standardized form is used by all employers to elicit the information, with rankings ranging from a highest priority to a not-acceptable category.
The Internship Director will match the students with firms. Students and employers who rank each other mutually #1 are automatically matched unless the matching exceeds the number of internships the firm is willing to take. Remaining matches consider both the firm's ranking and the student's ranking. The preference generally goes to the student ranking. This process is usually completed within one week.
- Due to the variety of firms participating in the program, the pay rate is determined by the individual firms. However, the department has requested that all firms pay a minimum of 80% - 90% of the starting salary for an employee in that firm's market. The firms have consistently adhered to these guidelines.
- You will be required to complete two papers in conjunction with the internship. One paper, due in October, will focus on the process of preparing for the internship. The second will be due after completion of the internship in April and it will focus on aspects directly related to the internship itself.
- If you will have fewer than 12 units during the spring semester of the internship, you will be considered a full-time student with the Registrar’s Office for insurance and loan deferment purposes. For financial aid purposes, certain grants, such as Pell Grants, Lawton Grants, tuition assistance grants and grants from other states will be prorated based on the number of credits you are taking. It should not affect Wisconsin grants, student loans or most scholarships.
- If you have questions contact Bill Tatman, Hyland 3526, at (262) 472-1707 or firstname.lastname@example.org.