Verizon, the company that once owned AOL and Yahoo, saw a record 49,000 applications for its summer internship program, selecting only 1% of applicants. This acceptance rate is lower than that of Ivy League universities, highlighting the extreme competition for these positions. According to Steve West, Verizon's head of global talent acquisition, the number of applicants has significantly increased, with some interns applying to over 100 internships.
The internship program is designed to identify and recruit future talent, with Verizon increasingly looking at rising sophomores and juniors, not just seniors. This strategy addresses a nationwide talent shortage and aims to position interns for future full-time roles. The program, overseen by Verizon CHRO Sam Hammock, provides interns with a full benefits package from day one.
Initial feedback from this summer's cohort indicated a highly positive experience, with 98% reporting satisfaction and 99% expressing interest in returning for another internship or a job. Verizon's goal is to build on this momentum, with a total conversion rate of around 85% for new hires or returning interns. Factors contributing to the positive experience included company culture, hybrid work options, and direct engagement with executives.
