As the summer season approaches, there is no better way to spend your time than by participating in a Mastercard Summer Internship. With an internship experience at Mastercard, you can gain valuable skills and knowledge while working with a Fortune 500 company.
Mastercard interns have the chance to make a real impact in the company through hands-on learning opportunities and meaningful assignments. Interning at Mastercard is about more than just the work or earnings but the impact you can make.
Let us take you through the company overview, the internship program, and other valuable information.
Overview of Mastercard
Mastercard is a global payments and technology company that provides services in more than 210 countries and territories. It is among the world’s most recognizable brands, with its iconic red and yellow logo on credit cards worldwide.
Mastercard ranked #14 on the Fortune 500 list for 2020, making it one of the largest companies by revenue globally. The company has seen consistent growth over the years, with its stock price increasing by nearly 90% in 2020 alone.
Mastercard student opportunities include internships and full-time roles in various engineering, marketing, finance, and product development departments. The company also offers a range of scholarships for undergraduate and graduate students interested in pursuing a career in payments technology or related fields. Additionally, Mastercard has partnerships with universities worldwide to offer educational programs and research grants to students in these areas.
Overview of Mastercard Summer Internship
It is a paid program that welcomes enthusiastic students and graduates to learn more about the tricks in code and other skills in the financial world during the summer. The internship program is offered in different locations where Mastercard has offices and also on virtual modes.
While technology is an integral part of their business, other aspects are open for the internship programs. Internships at Mastercard offer students the opportunity to gain experience in various fields, including finance, marketing, operations, and analytics. Each intern will be able to develop problem-solving and communication skills while working on meaningful and impactful projects. The Summer internship can last six months with good monthly pay while working in an intelligent environment.
Benefits of Mastercard Summer Internship
The Mastercard Summer Internship program offers many benefits to students seeking to gain financial industry experience. Some of the benefits include the followings:
#1. Work Experience
One of the primary advantages of this internship is the chance to gain valuable work experience. Interns can work directly with Mastercard employees on real-world projects and develop skills relevant to their career goals.
#2. Networking sessions
Interning at Mastercard allows interns to attend workshops, seminars, and leadership programs. Through these programs, interns can network with professionals in the industry and other interns, which can be a great way to build contacts for future job or business opportunities.
#3. Organization skills
During the internship program, you will have the chance to learn more about the company’s culture and values. Through their daily activities, interns can observe decision-making and how teams operate within Mastercard. This insight can help students better understand what it takes to be successful in a corporate environment and give them an edge when applying for jobs after graduation.
#4. Financial rewards
As an intern at Mastercard, you will receive competitive salaries that align with market rates and your role at the company. You may also enjoy housing and travel stipends to help cover the cost of living during the program. Also, more experienced interns with exceptional performance throughout the program could receive bonuses or stock options as part of their compensation package.
The eligibility criteria for the Mastercard Summer Internship may vary according to location. For instance, if you are applying for the internship program from the United States, Asia Pacific, MEA, Latin America, and the Caribbean, you must meet the requirements below:
- Must have proof of academic excellence, such as a cumulative GPA of 3.0 or above
Then if you are an applicant from Europe, you must have been:
- Predicted to achieve UK 2.1 GPA or Equivalent, penultimate year student pursuing a bachelor’s or master’s degree
Generally, all applicants must satisfy the criteria below for favorable application consideration.
- You must be Innovative in your thoughtful and capable of reasonable risk-taking
- Ability to partner across the organization
- Exceptional communication and analytical skills
Before you begin the application process for the summer internship, you should have the following documents available in the correct format.
- A resume that captures your current GPA and relevant skills to the internship job description. You can achieve this by browsing the job description and the company’s mission and vision.
- A cover letter should highlight your qualifications, experiences, and skills that make you an excellent fit for the position.
- A recommendation letter should be written by some who know you and can vouch for your competency, skills, and academic performance. The letter should highlight the skills, qualifications, and experience that make you an ideal candidate for the role.
The writer should emphasize your enthusiasm for the position and commitment to learning new skills and growing professionally.
- A copy of your academic transcript to prove your academic performance in the institution.
How to apply for Mastercard Summer Internship
To apply for the Mastercard Summer Internship, you should follow the steps below:
- Create an online profile on the Mastercard Careers website.
- Once your profile is functional, you can search for available internships and check for specific requirements.
- Complete the online application form and upload your resume, cover letter, and other relevant documents the employer requests.
- Submit your application.
Frequently Asked Questions (FAQs)
What are the roles and responsibilities of summer interns at Mastercard?
The roles and responsibilities of summer interns at Mastercard vary depending on the specific department and position. Some of the general functions you should expect are:
- Engage in Impactful assignments that drive business results
- Participate in v volunteer and team-building experiences
- Assist in coordinating events, workshops, marketing campaigns, and administrative support.
- Assist with day-to-day operations in their respective departments.
How much is the monthly stipend for Mastercard Summer Internship?
Interns receive a competitive compensation package that includes a salary, bonuses, and other benefits such as housing assistance or transportation reimbursement. For example, in 2020, interns at Mastercard’s headquarters in Purchase, New York, received an average monthly stipend of $3,500.
What are the tips to succeed in the Mastercard Summer Internship interview?
The first tip to succeeding in a Mastercard Summer Internship interview is thoroughly researching the company. Knowing the company’s history, mission statement, and other details will demonstrate your interest and enthusiasm for the position. Also, it’s essential to be aware of the specific role you are applying for and be able to articulate why you would be a good fit for that role.
Second, practice answering common interview questions before your interview. Consider writing out answers to questions such as “Why do you want this job?” or “What is your greatest strength?” This will help you feel more confident during the actual interview.
Lastly, prepare thoughtful questions about Mastercard and the internship program that demonstrate your interest in learning more about them. Asking questions shows you are engaged and eager to understand how you can contribute to the company.
The Mastercard Summer Internship Program is an excellent opportunity for students to gain invaluable experience in the corporate world. It demands a high degree of responsibility and commitment; those who are successful will be rewarded with first-hand exposure to the inner workings of a major financial institution. All interested candidates must meet the basic requirements, submit their application before the deadline, and provide all requested documents to be considered for selection.