- Business Terms
- Intercompany vs. Intracompany
- Margin Account vs. Cash Account
- Boss vs. Leader
- Semi-monthly vs. Bi-weekly
- Tactical vs. Strategic
- Part-time vs. Full-time
- Not-for-profit vs. Nonprofit
- Stakeholder vs. Shareholder
- Elastic vs. Inelastic
- Amortization vs. Depreciation
- FIFO vs. LIFO
- Inbound vs. Outbound
- Public vs. Private Sector
- Stipend vs. Salary
- Formal vs. Informal Assessment
- Proceeds vs. Profits
- Co-op vs. Internship
- Transactional vs. Transformational Leadership
- Union vs. Non-union
- Revenue vs. Sales
- Vertical vs. Horizontal Integration
- Gross Sales vs. Net Sales
- Business Casual vs. Business Professional
- Absolute vs. Comparative Advantage
- Salary vs. Wage
- Income vs. Revenue
- Consumer vs. Customer
- Implicit vs. Explicit Costs
- Letter of Interest vs. Cover Letter
- Cover Letter vs. Resume
Find a Job You Really Want In
There are several different opportunities that college students can take advantage of besides just taking classes. Among them are internships and cooperative education opportunities, more often shortened to co-ops.
If you’re interested in getting career experience and beefing up your resume, then both internships and co-ops are excellent opportunities. Internships are something that the majority of people have heard of, even if they aren’t quite sure what they are. But co-ops are more unusual.
So, then, what is the difference between an internship and a co-op? There are several, but the most obvious is in the timeframe. An internship takes place at the same time that a student takes classes.
While it may replace some credit, it’s not in place of classes. Co-ops, on the other hand, are work experience in place of classes. Usually, they alternate semesters; one semester is classes, and the next is work.
Key Takeaways:
| Internship | Cooperative Education (Co-op) |
|---|---|
| Internships are almost always unpaid. | Co-ops offer paid employment. |
| Interns are expected to do their internship alongside their schoolwork. | Those in co-op typically take a semester off school to work in their chosen field before returning to school the semester after. |
| Due to not being employees, interns are limited in what they can do at the company. | As co-op participants are fully employed, they are a lot less limited in what they can and can’t do at the business. |
| An internship won’t push back your graduation date. | A co-op will likely delay your graduation date, as while you’re working, you get fewer credits. |
What Is an Internship?
An internship is a learning opportunity in a workplace. Internships are a way to beef up your resume and gain work experience while still in school. Many internships are part-time, for this reason, allowing time for both classes and the internship.
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Internships are rarely paid. While there are occasionally paid internships or one with a stipend, they’re few and far between. If you can’t afford to go without working for a semester, then an internship is a poor fit for you.
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Interns are expected to keep up with their schoolwork. Internships are done alongside a student’s academic requirements. That means that you will need to be able to make time to go to class, go to your internship, and do your homework.
Due to this, many internships are part-time and should be flexible in order to accommodate when your classes are.
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It’s a way to gain work experience. An internship can get you work experience before you even graduate. This can be invaluable when applying for jobs, as many of them have highly valuable experience.
They also give you a chance to start to network. Knowing people where you interned and making a positive impression on them could be a huge career boost. It can also give you a leg up by offering experience before you even finish your degree.
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There are strict rules on what interns can and can’t do. As interns are unpaid trainees, there are many tasks that they aren’t allowed to perform. This is for both the protection of the intern and to prevent unscrupulous businesses from replacing paid employees with interns.
It’s important to know what you are and aren’t allowed to do in order to protect yourself. The place doing the internship should be aware of all the rules as well, but if they aren’t, knowing them yourself will allow you to determine that.
What Is a Cooperative Education (Co-op)?
Cooperative education, more commonly known as co-op, is a type of experiential learning. Like an internship, it’s a mix between classroom learning and a job. Co-ops will place a student in a paid position related to their field of study, in which they will work in addition to their coursework.
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Co-ops are paid. The position that you’re placed in is a paid one, meaning that you get a paycheck for the hours you put in, along with the experience and potential academic credit. This can help cover the costs of your courses, lodging, or other expenses.
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The schedule is alternating. Participants in a co-op aren’t expected to juggle school work and a job at the same time as interns are. Most co-ops will have classes for one semester, and then you’ll work for a semester.
Many co-ops are only a single semester, but there are ones that extend the student’s entire degree. Depending on your degree and the opportunities available, you can select a co-op that fits your needs and schedule.
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It allows you to build work experience. Like an internship, a co-op allows you to build work experience in an actual work environment. This allows you to learn the ins and outs of an office environment or other workplace environments as applicable and spend time with others who work in the field.
In addition, this will allow you to build contacts in your chosen field. If you perform well in your co-op, you have a chance of getting a good reference or even a more long-term job opportunity once you graduate.
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The emphasis is a practical application of classroom learning. As you’ll be learning both in the classroom and getting hands-on, on-the-job experience, the goal of the program is to mesh the two. Most classroom instruction is rather abstract, but going into a work environment will allow you to learn how to apply the skills practically.
Tips on Choosing an Internship or Cooperative Education (Co-op)
Both internships and co-ops are excellent learning opportunities, as well as a way to spruce up your resume when you begin to apply for jobs. However, there are pros and cons to both of them, meaning that you should consider which one would be a better fit for you. Here are some questions to ask yourself.
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How long are you able to go without an income?
Internships are almost always unpaid. They also are expected to be done alongside your studies, which would prevent you from getting a part-time job while in school. If you’re able to live without an income for your time in college, then they’re an excellent option, but if you can’t, you may need to make other choices.
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Do you know what you plan to major or specialize in?
Co-ops are going to be in the field you’re pursuing academically. If you aren’t sure what you want to major in, or if you think you’re likely to change your mind, then a co-op may not be ideal.
Internships are less structured, meaning that the experience gained from an internship is generally easier to apply broadly. But, overall, it’s best to be sure of your major before diving into an internship or a co-op.
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Are you able to juggle schoolwork and work at the same time?
Internships are done alongside your academic requirements. That means that students are expected to be able to do both. This isn’t an inconsiderable amount of work when going to school full-time. If you fear that you won’t be able to balance your internship and your classwork, it might be better to choose a co-op.
It should be noted that many students will work and go to school simultaneously. However, many of these people do one or both part-time. Internships are usually part-time by design, but that doesn’t diminish the time and energy requirements.
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Are you willing to graduate in more than four years?
As co-ops use a semester to work, they will delay your graduation date, as you won’t get as many credits during that semester. If you’re not willing to be in school for longer than the standard four years, then it may be best to consider an internship instead.
Internship vs. Cooperative Education (Co-op) FAQ
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Does an internship count as employment?
No, an internship isn’t the same as employment. While interns do gain work experience, they are not considered employees and are generally unpaid. Due to their special status, there are a lot of limits on what they can and can’t do in the workplace. Their primary objective in the internship is to learn, not work.
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Can international students participate in a co-op?
Yes, international students can participate in a co-op. An F-1 student visa allows them to work in the United States alongside their duties as a student. There are more requirements for non-citizens to work in the United States, so it’s best to work with your advisor and read up on what the restrictions are under the visa.
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There is no consensus on whether it’s better to invest in one company in a co-op or internship or spread your net wider.
A lot of this is going to come down to personal preference and what opportunities are available. Internships are more likely to offer you more opportunities to work with multiple companies than a co-op would. However, Co-ops could also be done with more than one company as well.
One thing to consider is how sure you are about your career. If you know what you want to do and get an opportunity to get experience at it or towards it, you should focus on that. If you don’t know, then it might be a good idea to try a few different things to see if one really engages you.
- Business Terms
- Intercompany vs. Intracompany
- Margin Account vs. Cash Account
- Boss vs. Leader
- Semi-monthly vs. Bi-weekly
- Tactical vs. Strategic
- Part-time vs. Full-time
- Not-for-profit vs. Nonprofit
- Stakeholder vs. Shareholder
- Elastic vs. Inelastic
- Amortization vs. Depreciation
- FIFO vs. LIFO
- Inbound vs. Outbound
- Public vs. Private Sector
- Stipend vs. Salary
- Formal vs. Informal Assessment
- Proceeds vs. Profits
- Co-op vs. Internship
- Transactional vs. Transformational Leadership
- Union vs. Non-union
- Revenue vs. Sales
- Vertical vs. Horizontal Integration
- Gross Sales vs. Net Sales
- Business Casual vs. Business Professional
- Absolute vs. Comparative Advantage
- Salary vs. Wage
- Income vs. Revenue
- Consumer vs. Customer
- Implicit vs. Explicit Costs
- Letter of Interest vs. Cover Letter
- Cover Letter vs. Resume

