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What kind of internships should I seek out as a Business-Economics Major?

Hello, I am currently a business-economics major at the University of California-Los Angeles, and I am looking for internships for the upcoming summer. Also looking to minor in accounting. As of now, I'm a bit unsure of what internships I should be looking for as I want to get internships that would hopefully do with my major in the future. However, I'm lost as to what careers or internships are related to my major. If anyone could give some recommendations I would appreciate that extremely.

Thank you comment icon Hey Kim, I would say your study is very flexible. So I think it's very normal that you feel lost, not sure whether will you feel like you have many choices but doubted that whether your major can be accepted? To be honest, the knowledge of economics can be applied in almost every business function (except some very specific one - e.g. R&D). Therefore, I think you need to be honest to yourself in this case, what kind of role or industry will actually excites you? And don't put too much stress to yourself, bear in mind that the purpose of internship is to experience the role, company culture, etc. If you have a company in mind, just go for it. All the best to you, Kimberly! Dennis Ang
Thank you comment icon First step would be to explore resources available through the University (career development and placement office). They would help you with the resume, mock up interviews, create more connections with companies. Second, it is helpful to start as soon as possible. Also, do not restrict yourself to only your major, as you might miss on other opportunities in business. Explore co-ops and interviews via Linked In and direct companies web sites. Start looking as early as September prior to summer you plan on internship. As for paid or non-paid internships, this should not be a main concern, as you want to gain experience and new connections as well as build your resume. Ioulia Miasnikova, MBA
Thank you comment icon Hello, there are many types of internships you can pick from if you can econ degree. It really just depends on the type of industry you are trying to get into. We all have different interest so find a sector or industry that really interest you. David Contreras

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John’s Answer

I majored in econ as well, but I work for one of the Big 4 accounting firms. It has been a great way to use both my econ background and my accounting background. I've stayed with the same firm for my entire career and to this day, I still use the things I learned in Econ. So my recommendation would be for you to get with one of the Big accounting firms and make sure they know that you bring an econ skillset as well as an accounting background. That will differentiate you.
Thank you comment icon Thank you for the advice. Samuel
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Samantha’s Answer

Hi Kimberly,

Some of the other answers here suggest looking for internship opportunities at the Big 4 accounting firms and I definitely agree. If you’re even remotely interested in accounting, there’s lots of different groups you can try in tax, audit, and consulting. Additionally, if you decide accounting isn’t your primary interest and that you’d prefer another kind of business or economics related role, there are also plenty of very interesting groups at the Big 4 (particularly in consulting) where no accounting work is required. Some of these other consulting groups include Management Consulting, Technology Consulting, Forensic Consulting, and Deals Consulting. All of these groups could be a good fit for someone with a business or economics background. Another great thing about interning at one of these large Big 4 firms is that it’s often possible to transfer groups if you decide after your internship that you’d rather be in a different group instead. Even as a full time employee, people switch groups all the time, and it’s much easier to try different things without re-recruiting for new full time roles in the market. Starting your career at a Big 4 firm will also provide you with lots of great mentors and support while you figure out your future career plans. Best of luck!

Samantha recommends the following next steps:

Search for Big 4 accounting firm internships
Thank you comment icon I appreciate your support, Samantha Samuel
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Tommy’s Answer

An economics degree with a minor in accounting is a great general business degree and can serve as the foundation for many different business careers. You could look for an internship in any financial services company, the accounting or treasury department of any company or even accounting or consulting firms. With this foundation, think about what industries interest you as there will be plenty of suitable opportunities.
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Cariad’s Answer

Hi Kimberly,
PwC has an interesting free program that can support you as you figure out your next steps.

I think these two ressource might specifically resonate with you:
Career Readiness curriculum- can help understand who you are, focus on where you want to go, and rethink how you approach the career search process
Mentoring program- where you can sign up for a small pod of collegiate peers and PwC professionals focused on building community and supporting you along your career journey.


Check out the website and see if any of it interests you:
https://accessyourpotential.pwc.com

Cariad recommends the following next steps:

Check out the website and see if any of it interests you: https://accessyourpotential.pwc.com
Thank you comment icon This was super helpful, thank you! Samuel
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Eleanor’s Answer

Here's an internship opportunity with Verizon for Finance Operations! It's just been posted:

https://www.verizon.com/about/work/jobs/7506831-finance-operations-summer-2022-internship?hl=577854

You can also check out what Verizon offers for college students here:

https://www.verizon.com/about/careers/college-students
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Michael’s Answer

Hi Kimberly,
First of all congratulations on getting to this stage of your education. I was in a similar place as you when I was in college. I was a Finance undergrad but really enjoyed the accounting side of my education and using Excel. This may not be a great answer, but I'd say that the exact field that you go into doesn't really matter. I definitely would encourage you to find an industry that you have some interest in what they do. For example, my internship experience was at Comedy Central/MTV Networks where I did Accounting work (journal entries, budget reconciliations, etc). I currently work for a Consumer Products company in their Sales Strategy department and previously worked in Finance. To summarize, I think the key is to find something that you'd be engaged in, and seek something interesting and what you can see/feel/touch. Too often people in Finance/Accounting go to work crunching numbers all day and get burned out from staring at a screen and not being able to see your impact of the important work you're doing.

Hope this helps

-Mike
Thank you comment icon This was super helpful, thank you! Samuel
Thank you comment icon I will use this advice as I prepare for my career. Samuel
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Christian’s Answer

What kind of internships should I seek out as a Business-Economics Major?


This is a great question to be asking oneself, especially so earlier in college as you start to build a plan into the direction you want to take after graduating. Business can cover a wide array of job opportunities and I would say you're not entirely enclosed to your major when pursuing other job opportunities that may be more technical as well.

To begin I would say think about certain industries that excite you or make you deeply curious about how they work and what they do. This could be areas like consumer goods, or manufacturing, or aviation, and you could look into specific companies within the industry through their websites and or through networking/reaching out to employees. Once you have defined some industries you can start to look at functions within those companies that do work you find again most interesting. Whether it is more marketing related, business operations, strategy, finance, HR, or sales there are many components to a company's makeup.

Beyond this method of following your interest, I would also recommend taking into consideration what you believe your future plans are or how you would want your lifestyle to be. If you enjoy freedom and want to have a good balance of time spent doing other things, some more hour intensive jobs may not be the best fit such as banking. If you want to learn a lot and can't decide on a specific field, there are other jobs where you can get more exposure to a wide array of industries like consulting. If you love technology and products then more technical jobs could require degrees in computer science, but if you follow a minor in computer science it could give you the skills to follow such jobs such as product management.

Take into account what are the things you want out of your career, how much you enjoy the subject, and what you want your lifestyle to be like. It can be a lot to decide on, and don't over stress too much about making the correct decision, you will always be able to adapt and follow new directions. The most important thing is just be willing to try new things, take risks, and learn from every experience.
Thank you comment icon Loved reading this, thanks! Samuel
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John’s Answer

Think about where you would want to concentrate and enjoy going to work everyday, Take into account what you expect to get and learn out your internship.
Thank you comment icon Loved reading this, thanks! Samuel
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Ariane’s Answer

Hi Kimberly,

One option for an internship for economics is transfer pricing. A "transfer price" is the price at which related parties transact with each other, such as during the trade of supplies or labor between departments." (Investopedia). Public accounting firms hire transfer pricing employees but many companies also have their own in-house transfer pricing. Good luck!
Thank you comment icon Thank you, this is amazing! I really needed it. Samuel
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Lukas’s Answer

Do one in consulting, so you have a good idea whether that is a good starting point. If there is a topic that especially interests you, take the next internship in that field.
Thank you comment icon Thanks for your encouragement! Samuel
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Shruti’s Answer

Hi!

There are many options of internships that you can do as a business and econ major. You can do banking at many different banks which can include things like investment banking and sales and trading. You can also look into marketing, management, supply chain, business analytics, finance, business improvement, and so many other roles. My best advice is that you should apply to everything that relates even a little bit because you will get to learn more about what you are interested in.
Thank you comment icon Thank you so much for the advice. Samuel
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Ed’s Answer

Economics major is a very effective major within business because economics covers basically all of business in some ways. That major can take you in a variety of different ways in the business sector.
Thank you comment icon Thank you, this is really helpful. Samuel
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Ana’s Answer

Hi Kimberly,

How are you?

The first thing you need is to understand is:
- What are the subjects in college that you are into? Start mapping the ones you like and the ones you don't.

Once you do it, you will be able to have an idea of which areas you could pursue based on liked subjects and your skills.

After that, start to map companies that are aligned with your values and see what are the possibilities that you would have in each one that are related to the previous step.

Last, but not least: talk to senior colleagues! They might be doing their internships and could give you an idea of the daily routine of their areas.

Good luck!
Thank you comment icon Ana, thank you! Samuel
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Aastha’s Answer

Hey! I saw your question about finding internships in business and had a few suggestions from my own experience. I first found out what I wanted to intern in by using LinkedIn Learning or free externship courses in business online. This helped me if anything find out what I didn’t like and narrowed it down.

Next I would say reaching out to alumni from your school at firms to ask about their day to day and see if you like it, and apply from there.


Good luck!
Thank you comment icon Your advice was so helpful! Samuel
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Deanna’s Answer

Hello Kimberly - It might be a good first step to think about what opportunities you may want to pursue with your career. With an idea that your degree can provide opportunities in business, consulting, finance, and investments - you might want to consider which of these interests you the most. Your professors and advisors might have connections with surrounding companies that might have provided internships. If not, you can reach our to organizations with some key areas of interest. Internships offer a great way for you to see the type of roles and work in the different areas your major can take you. You can try out a consulting firm, a finance internship in a company, or a financial analyst (just to name a few) and see what aspects you like in each one. Many companies start looking for interns in the beginning of the year to ensure they have people locked in for Spring, so starting soon is always a good idea.
Thank you comment icon Thank you for the advice. Samuel