Should You Intern For A Startup Or A Brand-Name Company? Here’s What You Need To Know

Working for a Fortune 100 company is the dream of thousands of ambitious students around the country.

Of course, it’s one thing to dream about a goal — it’s another to actually achieve it.

With the amount of students applying at these top-tier companies, landing an internship at one is extraordinarily rare. So it’s good to keep and open mind and evaluate all your options.

But with some hard work, and a little luck, you may be able to get that top internship your junior year.

If you don’t, there’s no reason to freak out.

There are plenty of other companies out there who whose internships may end up being just as beneficial. And for some students, it may even be a better idea to take an internship at a startup.

Here’s how to evaluate your options, make a decision, and land the opportunity that works best for you.

Making The Decision

There are three types of companies you’ll have the opportunity to intern for.

At the top level, you have brand-name companies like Goldman Sachs, Google, or PWC. Next are the mid- to large-sized companies that don’t carry the status of the first group. And then you have startups.

If you ever have the opportunity to work for a brand-name company, take it.

Adding that name to your resume will be extremely helpful down the road.

You’ll get plenty of structure and training from these top-tier companies, and the brand name offers you a marketable experience that you can use to your advantage after the internship.

An internship at McKinsey stands out. The company’s cachet is now attached to you, and hiring managers will do a double-take at your resume.

You’ll likely get a similar amount of training from a lesser-known company, but all things being equal, you should take the brand name offer.

Now, the startups are a bit of a wild card.

If you’re a particularly entrepreneurial student — you like to problem solve, ask questions, and work in a more flexible environment — then an internship at a startup may be of real benefit to you.

Any student with entrepreneurial interest should seriously consider working at a startup for a summer during college.

You’ll have more flexibility than you would in a large company. It will also move faster, and you’ll have more exposure to real problems.

If you have a number of potential options for internships, then think of it this way — optimize for brand first, then experience.

Once you’ve found a promising internship that fits your criteria, it’s time think about how you’ll convince them to take you on.

Nailing The Interview

In general there are two categories or internships: technical and non-technical.

When you interview for a technical internship, you’re trying to demonstrate that you can build things and solve problems quickly. The interviewers may have brain teasers, mathematical problems, or puzzles for you to solve.

You should be able to communicate your abilities quickly and efficiently during the interview.

In non-technical roles, there will be more emphasis placed on communication and leadership. You want to show them that you’re passionate about the role and that you can articulate your goals and abilities. It’s best if you have some sort of leadership experience to display.

Help yourself out by getting experience that relates to the internship you’re after.

A lot of students are fine with doing what they’re told — and nothing more.

They allow the rhythm of classes and semesters to carry them forward, and they aren’t proactive working toward their future career.

Don’t fall into the trap of complacency. Start your own projects instead, things you’re really passionate about.

Doing working outside the classroom shows initiative and a real desire to work in the industry.

Your resume should scream that you are built for your chosen path and that you’re very passionate about working in the industry.

For instance, if you’re trying to become a software engineer, then you need to have examples of coding on GitHub. Your goal is to show them that you regularly build and launch software.

If you’re looking to work in finance, then you should show that you invest on your own and have a portfolio.

For consulting, you can do case competitions or perform market research for a company on your own. Even search on freelance platforms for companies that need a hand with research projects.

The goal is to create your own work and get it on your resume as early as possible.

Remember, there are many different paths to reaching one of the big, marquee companies.

A lucky few intern for a Fortune 100 company their junior year and then accept an offer after graduation. But it’s possible to work at a startup or a mid-size company and make your way to a larger company later on.

So, if you can get a top-tier internship, then take it — and give yourself a pat on the back.

But keep an open mind about working at startups or lesser-known companies, especially during your freshman and sophomore years. Any experience will help propel you to a bigger and better role down the road.

Matt Wilkerson is the Co-Founder and CEO of Paragon One, a career advisory network that has helped hundreds of students and recent graduates land competitive jobs and internships.

For business and career advice, follow him on Twitter and Quora.