Managing Your Finances Better with
Jobs and Co-op Programs
(and add to your resume
too!)
In today's competitive job market,
setting yourself apart from other candidates with a defining
quality or experience can make the difference in securing a
job.
Not only will this allow you to stand out amongst your peers
however, through initiatives such as co-operative programs, in
addition to real-life working exposure, it can also help you in
terms of managing your finances better.
What are Co-ops and
Internships?
A co-op program allows students to combine
academic study with work experience by spending one term on
campus followed by another term working full-time in a position
related to their field of study.
Work terms are usually four months long. Upon degree completion
you will have the same number of academic terms as anyone else,
and you will also have up to two years of valuable career-related
work experience.
Whereas an internship is defined as a supervised practical
training period for a student or recent graduate. The amount of
time spent at an internship tends to vary, depending on the
program and the job.
Co-ops and internships provide you with some of the practical
experience you will require when facing the job market after
graduation.
Benefits to Students and
Employers
Students who take advantage of co-ops
and/or internships clarify their career goals and can determine
their working-style preferences before they even get their first
full-time career job.
A strong benefit of these work terms, as you look beyond
graduation and think of your future career, are the business
networks that are created.
The contacts made during the work terms, both within the
organization and externally, can become a significant asset in a
job search later on.
This includes advice, references, job leads, and may even lead to
a job offer if you manage to impress the employer.
As well, students benefit from co-op and
internships by:
* Gaining effective work habits
* Developing a professional resumé with a variety of work
experiences
* Working in your chosen field without a long-term commitment
* Helping to determine what you do (and don't!) want in your
career
* Practicing and enhancing your interview skills
* Being exposed to workplace conflict, and learning from these
experiences
How Do Co-ops Work?
There are a variety of ways that co-op and
internship opportunities work. For specifics, inquire directly to
the school to which you are applying. Some co-op and internship
options are included in the choice of degree when you first
apply, while others are an option to which you apply upon
completion of your first year.
When there is a co-op or internship option within your degree,
there are a variety of different schedules for the periods you
are studying and working.
Depending on the school that you are attending, there may be a
required introductory course that will explain your
responsibilities on the job, the atmosphere to expect and the
process of gaining employment. The process of gaining employment
in a certain field of study depends on the institution and how
they organize and attain the co-op opportunities. At some
institutions, co-ops and internships are offered only to certain
programs, so organizations are approached accordingly. When a
school has a good reputation within the community because of its
co-op and internship students, organizations might also approach
the institution to sponsor a student.
What Happens at the End of the Work
Term?
If the work term counts towards your
degree, there is often an evaluative component that will have to
be completed by the end of each work term. This may be a written
submission outlining what you have learned from the
placement.
More recently, some schools have begun asking for a learning
portfolio instead of a written submission. This tool allows
students to document what they have learned from their work
experience.
It provides a chance to see how far you have come, especially in
instances when students have completed more than one work
term.
What are the Admission
Criteria?
Depending on the program, some students will
apply to a co-op program straight out of high school. Once
accepted, students generally start their first work term after
their first year of studies. Each school is different, however,
and specifics need to be found from the school itself.
Co-op and internship programs are very competitive, so typically
there is a minimum average students must maintain to stay in the
program. They must have strong communication and interpersonal
skills to find success in their interviews and placements.
Related Lesson:
Studying Abroad? Choose an Internship or Co-op!
Will I Get Paid?
Whether or not you get paid depends
on the program you are enrolled in and the sponsoring
organization of your work term.
A lot of times students will get paid, making a co-op or
internship option attractive for students who finance
their own education.
In general, the salaries for a co-op or internship student range
from $400 to $750 per week depending on the program and
placement.
To gain experience in an unusual field, some students take unpaid
work terms. In other cases, instead of being paid regularly, a
student may be given an honorarium at the end of the term.
Students should be aware that there are also fees associated with
some co-op or internship programs. These fees vary by
institution, and go towards covering the operating costs that are
associated with running a co-op education or internship
program.
Related Lesson:
Jobs To Help You Pay For Your Education
Better finance your education by
reducing dependency on student loans!
What's Next?
Follow up with universities you are considering
to get more detailed information on available programs, and talk
to friends and family who have done a co-op or internship to hear
about their experiences.
Post-secondary education prepares students with the necessary
tools for the job market, and co-op and internship programs are
an excellent way for students to gain relevant experience and get
a glimpse into the future towards a successful career.
Related Lessons:
Work-Study Abroad in Canada: On Campus,
S.I.N Number: Your Way of Getting Paid,
MyCIC: For International Students Wishing to Work in Canada,
New visa regulations help students stay and work in
Canada!
Join the thousands of co-op
students who apply for co-op today!
Working On-Campus
Finding work on campus can be challenging, as
you are frequently competing with a large group of students
interested in the same position.
So what can YOU do to stand
out? Network!
Be active on campus and volunteer. Get to know the people around
you and let them know you're looking for work.
While students do get hired year-round, the bulk of the hiring is
typically done in late July and August. September is a hectic
month on campus, and many departments prefer to have their hiring
done before the influx of new students in the fall.
As an international student, you may be eligible for student
employment. Keep in mind, there may be restrictions on your
ability to work. It's important to work closely with the Center
for International Programs to verify your employment eligibility
and to follow all appropriate university procedures to expedite
the employment process.
Potential On-Campus
Employers:
- Food Services
- Academic Divisions and Faculty
- Admissions and Recruitment
- Academic Advising and Career Centre
- Athletics
- Grounds and Parking Office
- Registrar's Office
Work-Study Programs
In keeping with today's world, the labour market
is constantly changing. Technological development and new means
of production and organization of work oblige the labour force to
continually adapt and improve its occupational competencies.
The education system must therefore efficiently meet the varied
and ever-growing requirements of the labour market. Forging close
ties between employers and educators is a promising means of
attaining this objective.
Collaborative partnerships are not new between business and
education. For example, representatives of the business world are
invited to participate in the development of programs of study.
This cooperation ensures greater consistency between the real
needs of the labour market and the determination of the
competencies that must be acquired in school in order to practice
a trade. The development of work-study programs in vocational and
technical education will bring this cooperation between schools
and businesses to new levels.
The Work-Study Program provides students with an
opportunity to meet financial needs and gain
practical experience during the school year.
When you choose to participate in a work-study program, in
addition to gaining valuable experience, you will also get paid
and also may receive college credit. The university work study
programs give you a variety of options to help further your
knowledge while preparing you for your future.
Basic Eligibility
Criteria:
Students are eligible to participate in
Work-Study if they have applied and qualified for a Student Loan
and be registered in at least 60 per cent of a full course load
(40 per cent for students with permanent disabilities).
Students who meet these criteria should complete a Declaration of
Eligibility/Hiring form. This form enables students to declare
themselves eligible based on the above criteria and proceed
directly to the Career Centre or the Career Centre's website to
review the job listings.
"On-Campus job opportunities
available for students who require financial
assistance"
Reference / Image Credits: Student Information, Inky Hack, UFG, I Don't Mind, Keny, Randeeclip, Gascamelissa
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