<?xml version='1.0' encoding='UTF-8'?><xml><records><record><source-app name="HighWire" version="7.x">Drupal-HighWire</source-app><ref-type name="Journal Article">17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Margaryan, Shushanik</style></author><author><style face="normal" font="default" size="100%">Saniter, Nils</style></author><author><style face="normal" font="default" size="100%">Schumann, Mathias</style></author><author><style face="normal" font="default" size="100%">Siedler, Thomas</style></author></authors><secondary-authors></secondary-authors></contributors><titles><title><style face="normal" font="default" size="100%">Do Internships Pay Off? The Effects of Student Internships on Earnings</style></title><secondary-title><style face="normal" font="default" size="100%">Journal of Human Resources</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2022</style></year><pub-dates><date><style  face="normal" font="default" size="100%">2022-07-01 00:00:00</style></date></pub-dates></dates><pages><style  face="normal" font="default" size="100%">1242-1275</style></pages><doi><style  face="normal" font="default" size="100%">10.3368/jhr.57.4.0418-9460R2</style></doi><volume><style face="normal" font="default" size="100%">57</style></volume><issue><style face="normal" font="default" size="100%">4</style></issue><abstract><style  face="normal" font="default" size="100%">We study 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 percent in both ordinary least squares (OLS) and instrumental variables (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.</style></abstract></record></records></xml>