Top companies are continuing programs this spring to give Wharton sophomores a better chance at landing summer internships.
While big-name firms like Goldman Sachs Inc. and JP Morgan Chase and Co. only offer summer internship positions to rising seniors, others, like Bank of America and Lehman Brothers Holdings Inc., have programs designed specifically for sophomores.
And these programs -- which try to appeal to students without using the on-campus recruiting process -- are on the right track, according to Penn's Career Services.
But the low percentage of students who participate compared to those who rely on on-campus recruiting may suggest that their programs may be underutilized by students.
"These organizations have realized that it is possible to get some great folks [after their] sophomore year," Patricia Rose, director of Career Services, said.
But many banks' programs for sophomores are small and selective, said Barbara Hewitt, the Wharton School's associate director of Career Services.
While the small number of positions limits an applicant's chance of getting in, the few available spots are sought-after enough that firms offering them don't need to rely on heavy recruiting to attract students.
But most students continue to opt for the tried-and-true route of on-campus recruiting.
According to Career Services' Summer Employment Report for last year's Wharton undergraduate class, 40.4 percent of students obtained internships through On Campus Recruiting, 10.8 percent used other methods to land an internship, and only 2.9 took advantage of any of the special programs offered.
The report also advised underclassmen to "be persistent when applying to jobs not via on-campus recruiting," noting that "it is perfectly all right not to depend on on-campus recruiting."
Career Services hosts 100 companies who recruit on campus, but many programs, especially those reserved for sophomores, don't send recruiters to Penn.
In such cases, firms typically take out ads in student newspapers and have Career Services forward notifications via e-mail to qualified or interested students.
Interning as a sophomore "shows [willingness] to put in the effort to try to gain work experience," said Wharton junior Samantha Harrison, who interned at the Pacific Management Investment Company after her sophomore year.
But while Harrison qualified her internship experience as "invaluable," many juniors have concluded that interning as a sophomore only adds unnecessary pressure to what should be a positive learning experience.
"I think that kids ... focus too much on where they are going to work for the summer," added Harrison.
Even freshmen may rush to add job experience to their resume.
Wharton sophomore Ashish Jatia -- who interned for Merrill Lynch after his freshman year -- said that he used his early internship experience to find out what he ultimately wants to do professionally.
But many freshmen still scoop ice cream and wait tables that first summer.
"I tell freshmen that it isn't uncommon to have a summer job very much like the [one] they had after senior year of high school because they haven't changed that much," said Rose.
