This January, 339 undergraduate and graduate students will be participating in alumni-sponsored externships. Now in its 17th year of operation, the externship program is run by the MIT Alumni Association and provides students with opportunities to explore career paths during the January Independent Activities Period (IAP). This year, 993 students submitted 2,459 applications (a student can apply for up to three externships); 861 were undergraduates and 132 were graduate students.
The Alumni Association uses an algorithm to match students with externships during two rounds of matching, which took place from Nov. 8 until Nov. 21. The second round gave spots that were turned down to students that didn’t get one in the first round.
The financial services category received the most applications, which has been a consistent trend for the past several years. Jane Street Capital received the most applications of any company; of the 67 applicants to the position, which pays an $8,000 stipend, only 12 students were accepted. Among the other most popular companies were Oliver Wyman ($5,000 stipend) in the category of management consulting with 56 applicants and 3 students accepted. In the category of engineering, Palantir Technologies ($4,800) received 48 applications and accepted 3, and Quora ($8,000) received 41 applications and accepted zero.