Intern Market Overcrowded
By Jane Han
Staff Reporter
Pulling all-nighters has become a routine for Kim Tae-eun. Reading stacks of reference books, revising the 11th version of his resume and memorizing English vocabulary keep him busy through the night. All the work, however, isn't for a full-time job, but for a two-month internship ― one good way out from ending up in prolonged misery.
``Having to look for a job as a graduating senior will put me under even more immense pressure,'' says the sophomore college student, who is currently preparing to land a spring internship at a top local asset management company. ``Early preparation could help me skip that stage.''
Kim is right, as a recent survey shows that nearly 70 percent of the country's top 100 employers offer full-time positions to their interns.
Internships were once uncommon here, but an increasing number of companies have come to favor the student hiring program to evaluate potential employees. This, in turn, works for students who can use the opportunity to get exposed to various industries.
About 40 percent of the top 100 companies hired interns in the first half of this year alone, according to Saramin, an online recruiting firm, Tuesday.
Resume reviews, written tests and interviews are necessary steps in the hiring process, and students usually invest about four months to prepare, said Kim Hyun-ji, a sophomore year college student.
She says applicants are usually ambitious and less-burdened because they are working on getting a head start.
``It's all in the head,'' said Kim, explaining that seniors are much more nervous, which drives the lower classmen to try harder not to be in such a position.
She stressed, ``No one wants to be part of the 880,000 won Generation.'' The term was coined to describe a vast number of men and women in their 20s ― without a full-time job ― who earn an average of 880,000 won a month.
A recent poll by Job Korea, another online recruiter, said a majority of interns (30 percent) get paid about 1 million won a month.
``Internships offer OK pay, boost your resume and provide good networking,'' said a Job Korea spokeswoman. ``These are enough reasons for college sophomores and juniors to be in a frenzy.''
Kim Hong-shik, an executive of Saramin, says smaller-sized firms are starting to hire more interns, which will hopefully give jobseekers a chance to learn the benefits of working in a smaller company.