Posted on July 19, 2022 at 2 PMUpdated Jul 19, 2022 at 4:12 PM
Getting an internship in a large American city has become a privilege. To rent an apartment in New York, you should now be able to pay the average rent 35% higher than it was two years ago, before the Covid-19 pandemic began. While the rally should continue this year, with prices up 10% according to the New York Federal Reserve, the phenomenon is widening inequality of access to first jobs for young Americans, according to a Wall Street Journal report. In fact, the career path of students and graduates from humble backgrounds will be indirectly affected by the real estate situation in major cities.
Remote work training
The students interviewed by the American daily explained that they had to give up job offers because they could not afford the increase in the cost of living in New York, Washington and other capitals, preferring to remain in their home region. Especially since many must already pay off the student loan they took to enroll in the university.
The cost of living in the Big Apple, for example, has slowed Project Phoebe Omonira, a young human rights lawyer. The $500 you must receive in seven weeks of activity in a New York company is not enough to cover its costs. The student is forced to work remotely from her home in Dallas, Texas, and “will not be able to meet these colleagues.” But if telecommuting could represent an alternative, jobs that allow it account for only 11% of training offerings, according to the Wall Street Journal.
However, employers and students consider internships as a springboard for employment. In a 2019 survey, 70% of business leaders interviewed said they offered new career opportunities to former interns.
In certain sectors such as finance, the placement of interns at the end of the undergraduate course is the subject of strong competition between companies. Some offer negotiated prices for lunches, while others are willing to increase their wages in order to attract the best people. Granting an employer-funded housing allowance has also become widespread in large corporations in New York and other major US cities, in order to encourage graduates to relocate to urban centers.
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