Internships 101: Expect the unexpected

Spending time last week with TIAA’s 300 summer interns led me to reflect on the enormous impact an internship played in my own life – and the critical role that internships still serve today in developing our future leadership.

When else can you have the opportunity to explore so many possibilities, to learn quickly what does or does not appeal to you, to fail or succeed, or both, all in 10 weeks’ time? Almost everyone learns something unexpected during an internship, it turns out: 81 percent of college students shifted their career direction as the result of an internship, according to research by the National Association of Colleges and Employers. That’s why internships matter -- they can open us up to new ways of thinking.

In fact, an internship could alter the entire trajectory of your career, as it did in my life. When I was in college, I had the opportunity to participate in a program called INROADS, a career development pathway for diverse youth that served as my disruptor. It led me to an internship at Fannie Mae, which was my entrée into Corporate America. In that single, short-term internship, I discovered my lifelong passion for financial inclusion and opportunity that remains my North Star today as CEO of TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people.

This summer, TIAA has welcomed a gifted class of interns. We have brought these bright students from all over the country to a number of U.S. locations, including two weeks of development at our Charlotte, N.C., hub. After so much of their education and previous summer jobs took place virtually, these in-person events have helped the interns of 2022 create an especially supportive, close-knit community.

That brings us to some takeaways I shared with them in a recent fireside chat that I hope other young people just starting out can learn from, too:

This is your foundational network. The INROADS program I took part in during my own time in college emphasized the importance of building and sustaining a professional network – the power of connection. I still check in with some of those classmates today. And years or even decades from now you might find yourself working alongside members of your current intern class. Always stay connected and cultivate your relationships, as you never know whom you might count as a colleague in the future.

Seek out mentorship everywhere you can. When I was at Fannie Mae, some of the most valuable lessons I learned came from the secretaries. They would take me aside at the copier or in the hallway to explain how things worked, and to offer their advice. I learned early on the value of connecting with people all around me, without regard to their rank or title. They can help push or inspire you to become a better version of yourself. So take advantage of every invitation to meet people on the job, even if you can’t see yourself in their roles.

Do not let mental gymnastics hold you back. I know the doubts or fears that often follow when you join the workforce or start a new role. Do not let them hold you back -- especially the fear of transition. While I was still working for Fannie Mae in Texas, I was offered a promotion in California that I almost turned down, because it was scary to consider moving away from all of my family and friends. My whole life was there. But I talked it over with my most trusted family members and friends, and their reassurance helped me overcome my fears. I soon realized that the only obstacle in my way was my own self-doubt.

Be confident, but stay humble. When you possess that confidence, be ready to show up with your authentic voice. Change in the workplace occurs when people contribute their fresh perspectives and unique voice; do not lose that. I remember feeling nervous about speaking up or contributing in important meetings early in my career. But I knew that I brought a perspective my colleagues needed to hear. When I reminded myself that my voice was necessary and required, my confidence was restored. My wish for you is that you find that as well.

I am proud of interns across the U.S. for choosing to expand their skills and experience this summer. I urge you to take advantage of every opportunity and experience that comes your way during your internship. This is how we stretch and grow, professionally and personally, throughout our lives.

For opportunities to apply to our 2023 intern program, keep an eye on Careers.TIAA.org .?

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