My son was just offered an internship. However, he is wary about accepting it because the pay is minimal. Should I encourage him to take the position?
Dear Concerned Parent,
Let’s examine the concept of internships through the lens of human capital. Today, an individual’s human capital is often used to measure their value when entering the workforce. Measuring a person’s human capital is as simple as performing basic addition. All we must do is add up all the education, knowledge, and experiences he or she has had up to this precise moment in life, and the sum of those, my friend, is their human capital. This standard of measuring a person’s value in the workforce has made the word “internship” a trending topic.
An internship will augment your son’s human capital with invaluable experience, serving as an investment in his future. Remember, the math is simple. The higher your son’s human capital, the higher the chance of changing the status on his ID badge from “temporary” to “permanent”.
Internships are like those little spoons of ice cream you get at your local shop – they can help your son pick what “flavor” profession works best for him, for his personality and for his long-term goals. Working side by side with full-time employees, he will get a bird’s eye view on what it is really like to be an accountant, designer, or engineer. So, not only will an internship increase his chances of landing his dream job, but it will also help him figure out exactly what his dream job is.
I would urge your son to accept the offer, as they are hard to come by in today’s world. Don’t fuss over the pay; I have no doubt that his salary will increase significantly over time as a result of the hands-on experience he will gain. And if your son is in need of cash income now, perhaps he could supplement with a part time job. It might feel like a lot of work now, but it will pay big dividends sooner than he knows it.