How to maximize internship season and start your financial future

For young adults entering the workforce, there is good news and bad news right now.

Let’s start with the bad: The job market is looking a little bleak, at 7.8% unemployment for those ages 22-27, according to the latest data from the New York Fed. 

Those are the worst numbers since the early years of the COVID-19 pandemic. Recent college grads are doing a little better, but not much, with their unemployment rate at 5.6%. Meanwhile AI is hovering like a dark cloud over the whole landscape, threatening to disrupt entire industries.

So here’s a potential bright spot: The number of internships is actually up significantly, rising 31.6% year-over-year, according to an analysis from ZipRecruiter.

Internships are the “clearest on-ramps” to the workforce right now, says the job site’s annual report for new grads. If you do land one, here’s the key advice: Make the absolute most of it.

“Soak in every minute you can,” says Sydney Woodward, a financial planner with YeskeBuie in San Francisco. “Ask for references, resume help, and advice.

“And leave a lasting impression: Right now, these professionals are your bosses, but in 10 years they will be your peers.”

Indeed, internships are ideal career launching pads in a number of different ways. First, to gain skills and demonstrate your competence. Second, to deepen your network and make connections that will pay off for years to come.

And third, they allow you to start laying the foundations of your financial life. From creating first banking accounts to building credit to learning how to budget, these are important first steps on your decades-long financial journey.

So don’t let the moment slip, and take full advantage of your internship time window. Some advice from the experts:

-Start building a professional network right away. As the lowest person on the totem pole, it can feel awkward to reach out and ask for one-on-one time with peers and bosses. For your future career’s sake, get over those jitters and start planting the seeds of those critical relationships.

“When it comes to networking, it helps to shift the mindset from ‘What can I get from this person?’ to ‘How can this be mutually beneficial?’ ” advises Jessica Kirwin, a financial planner in Issaquah, Wash. “Use your time wisely by being prepared with your most important questions and specific requests. Most importantly, send a thank you note, show appreciation and stay in touch -- it could turn into a longer-term relationship.”

Don’t limit your networking to your immediate circle, either. Make contacts in different divisions of the company, at other firms in the industry, and at events and conferences of professional trade groups. That will lay the groundwork for future advancement.

-Construct your online profile and keep it up-to-date. If you’re making career strides at your internship, but no one knows about it, that’s a problem. You want to make yourself ‘discoverable’ to future employers and third-party recruiters, and that means putting together comprehensive online profiles on sites such as LinkedIn.

Young adults seem well aware of the importance of this step: The share of new graduates with Indeed profiles jumped from 11.5% in 2023 to 19.1% in 2025, according to a new report from the popular jobs site.

Don’t assemble a bare-bones placeholder, but one that accurately reflects what you’ve been up to and what you’re looking to do. Made an important new contact at the company? Add them as a connection, and interact with their content. Completed a new certification, or received an award? List that on your roster of skills and accomplishments.

-Put your financial building blocks in place. An internship is often the first time that a young college student has money coming in, and has to seize the reins of their own financial lives.

Even if the amounts aren’t earth-shattering – the median hourly wage for internships is currently $19.23, according to ZipRecruiter – this is precisely the right moment to take action.

That means beginning to put money away for future goals, and Current’s Savings Pods could be a great place to start, as they offer up to a 4.00% annual bonus on funds and allow you to set aside pods for different savings goals. It means starting to build a solid credit record, which will take years to fully manifest, but can be accelerated with the use of a secured charge card, such as Current’s Build card. A secured charge card can help you build your credit history while minimizing your risk of debt, as you can only spend the amount of money available in your account. With the Build Card on Current, members on-time monthly payments are reported to the three major credit bureaus (Equifax, Experian and TransUnion) and members have an average credit score increase of 81 points six months after enrolling. It also means smart budgeting, opening retirement accounts like a Roth IRA for the first time (which requires earned income), and preparing for the unexpected. Do your best to put together an emergency fund, says Woodward, which should be about three to six months’ worth of expenses, if finding full-time work after your internship should prove difficult.

“I’d suggest they get a clearer handle on their cash flow right away, and look into using budgeting tools like YNAB for college students,” says Kirwin. “Then they can understand exactly what resources they have, can make more intentional spending decisions, and see their net worth grow over time.”