Internships essentially afford penultimate or final year students the opportunity to get their feet wet in the corporate world during their three-month summer break. Traditionally the main staple of the investment banking or management consulting careers, the internship has extended into other realms of industry, such as oil and gas, computer and even graphic design. Hence, for a lot of university or college students studying locally or abroad, this would be the time to try out a field for size before they commit to it.

So who offers what?
Most blue chip companies will offer internships, but often, the places are allotted to corporate scholarship holders who are likely to be obligated to join the company upon graduation. In these cases, the company uses the internship to train and assess the scholars before they employ them.

Fear not, however, for some companies do offer internships to non-scholars. The number of spaces open to public applicants varies each year according to needs or capacity. For these opportunities, the university or college bulletin boards should be the first point of contact between company and student. Also, keep an ear out for campus presentations by companies of your choice, they will mention internship opportunities if there are any.

Where do I start?
Proactive students ready to embark on a corporate adventure can head online. "As someone who has hunted for internships in the past, I would suggest that you research the companies that suit your criteria. For example, if you are interested in engineering or graphic design for web sites, you may want to find 15-20 companies that specialise in this field and are located in your city or region of choice. Contact the Human Resources departments of these companies by phone, ask if they offer internships and what kind of qualifications they are looking for," says Paul Ho, 22.

Other questions to ask:

• Does the company sponsor students from overseas? (if you are studying abroad or wish to take on an international internship)
• If these are paid internships, what kind of work will you be doing? (avoid "busy work" internships like stapling and faxing)

Once you find a list of companies that (1) offer internships for which you are eligible and (2) are presently hiring interns, you should apply to all. When applying, follow individual company procedures. Some companies have their own applications; others prefer that you send them a separate cover letter and resume.

Once you send in your resume and cover letter, do try to follow up with a telephone call to the appropriate person in charge of internships to keep you at the forefront of their mind and confirm receipt of your documentation.

What's it really like?
Many students who enter internships anticipate a boring experience of no work of real importance. At times, this can be the case if you end up with a supervisor with no time or a department with low activity. But, if your selection process goes well, you would have found a company that offers an experience that goes the extra mile both career-wise and socially.

"An internship is a great opportunity to try out a field before you commit to it. Pick the field you think you'll like best, and go for it," says Andrea Chung, 20.

Sometimes, you may be surprised at what you discover. "When I first joined, I thought I wanted a career in seismology. After my internship, though, I opted to pursue a career in reservoir engineering. The experience was a real eye-opener for me to put theory to practice and figure out my next career move," revealed Mohammed Idris, 21.

For others, like Mohan, 20, it was the chance to work with the latest and greatest in technology. "If you are lucky, you will get to do some really cool work on awesome cutting edge technologies."

On the social side, because interns are recruited from various universities and, sometimes, countries, it can be a rewarding time of meeting other peers. From the professional aspect, dealing with senior managers can bring you out of your shell and teach you the lessons of people management and teamwork within a corporate environment. Further, building up a network of contacts is invaluable, whether or not you choose to work with that company again.

Is it all that it's cracked up to be?
Does investing your hard earned break from studying into an internship really reap benefits? The reality is, there are far more full time positions open in companies than there are internships. Hence, the numbers of people who actually get internship experience are very small in comparison to those who do not.

From an employer’s viewpoint, an internship can put the individual up one level on paper compared to students without any real-world experience. It further shows industry and initiative on the part of the student.

For those who lack the badge of experience, how will you fare in the job market? It does not necessarily seem as bleak as it sounds.

Says Karen Toh, a recruitment manager, "Come recruiting season there will be two types of people -- those that get full time offers and those that don't. Internships are not the deal breaker. I know of many hotshots with great internships who didn't get offers or got them at lesser companies. I also know people who had no experience that got great offers. In most interviews, grades and experience get you in the door but from there, it’s personality and chemistry.”

Remember to have fun!
In the haste to secure that brilliant career future, students can worry too much. My advice is to be proactive and know how to make the most of your opportunities. But most of all, your university days are just as much about gaining an education in academics as it is about gaining your footing in life. Work is a whole different ballgame, and many of you will look back on your years at university as the best times of your life. So balance everything out.

Let me leave you with some insight from someone who did just that. "I had some interviews but did not get an internship offer. Though I was initially bummed, I decided to make the best of my situation and spent the summer abroad working. I had an amazing time, came back to school and got interviews with all the major banks (who were all very interested in my unique experiences) and scored a great job early on in the year. So don't stress out too much and remember to enjoy yourself!"