For MBAs at the University of Maryland's Robert H. Smith School of Business who are passionate about creating a better world through business, it can be hard finding internships with social enterprises and nonprofits. Many of these organizations lack the budget to pay MBAs competitively, which often deters efforts to recruit MBAs. In response to this unmet need, the Center for Social Value Creation partnered with the Office of Career Services to launch the first ever MBA Impact Fellows program this summer.
The first cohort includes four MBA students who interned with exciting regional social enterprises and nonprofits. Their pay was supplemented by the Smith School to be par with competitive MBA intern wages. The four fellows worked in a variety of impact sectors, including international development, impact investing, and alternative energy, and took on roles in finance, operations, human capital management, and development.
Each fellow not only honed their business skills in a real-world envionment, but also experienced the power of market-based solutions in mission-focused organizations. “I’ve learned that, even for a 5 billion dollar organization, mission can matter and be core to an organization's success.” explained Nadine Payne in her presentation at the MBA Impact Fellows closing reception.
Host organizations included, Goodwill Industries International, Inc., Inter-American Development Bank, Astrum Solar, LLC and Value-Add, LLC. CSVC plans to expand the program in the summer of 2015, making experiences at impact organizations more accessible to MBA students, helping ease the burden of recruiting MBAs into the impact space.
Learn more about MBA Impact Fellows here.