@TechReport{iza:izadps:dp12478,
            	author={Margaryan, Shushanik and Saniter, Nils and Schumann, Mathias and Siedler, Thomas},
            	title={Do Internships Pay Off? The Effects of Student Internships on Earnings},
            	year={2019},
	month={Jul},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={12478},
            	url={https://www.iza.org/index.php/publications/dp12478},
	abstract={This paper studies the causal effect of student internship experience in firms on earnings later in life. We use mandatory firm internships at German universities as an instrument for doing a firm internship while attending university. Employing longitudinal data from graduate surveys, we find positive and significant earnings returns of about 6% in both OLS and IV regressions. The positive returns are particularly pronounced for individuals and areas of study that are characterized by a weak labor market orientation. The empirical findings show that graduates who completed a firm internship face a lower risk of unemployment during the first year of their careers, suggesting a smoother transition to the labor market.},
	keywords={labor market returns;higher education;skill development;internships;instrumental variable},
            }