@techreport{MargaryanSaniterSchumannetal.2022,
  type      = {Working Paper},
  author    = {Margaryan, Shushanik and Saniter, Nils and Schumann, Mathias and Siedler, Thomas},
  title     = {Do internships pay off?},
  series = {Journal of human resources},
  volume    = {57},
  journal   = {Journal of human resources},
  number    = {4},
  publisher = {University of Wisconsin Press},
  address   = {Madison},
  issn      = {0022-166X},
  doi       = {10.3368/jhr.57.4.0418-9460R2},
  pages     = {1242 -- 1275},
  year      = {2022},
  abstract  = {We study the causal effect of student internship experience in firms on earnings later in life. We use mandatory firm internships at German universities as an instrument for doing a firm internship while attending university. Employing longitudinal data from graduate surveys, we find positive and significant earnings returns of about 6 percent in both ordinary least squares (OLS) and instrumental variables (IV) regressions. The positive returns are particularly pronounced for individuals and areas of study that are characterized by a weak labor market orientation. The empirical findings show that graduates who completed a firm internship face a lower risk of unemployment during the first year of their careers, suggesting a smoother transition to the labor market.},
  language  = {en}
}