Beginning fall 2024 and phasing in over three years, the new policy is aimed at ensuring equitable access to career-building experiences for all students
NEW YORK, June 17, 2024 /PRNewswire/ — Manhattan’s LIM College, which focuses on the business of fashion and lifestyle, today announced a new policy requiring that all students be compensated for internships and co-operative (co-op) work experiences at minimum wage or above. It applies to in-person, remote, and hybrid internships and co-op experiences.
The new policy will be phased in over three years, beginning this fall and progressing through the 2026-2027 academic year, when it will cover all students.
“Internships and co-op experiences are vital components of a comprehensive education, offering students real-world experiences, the ability to develop professional skills, and the opportunity to build valuable networks within their chosen fields. Unpaid internships can create significant barriers for many students, particularly those from underrepresented, first-generation or low-income backgrounds who can be locked out of coveted pre-career experiences if they lack the financial resources to accommodate unpaid experiences,” said LIM College President Ron Marshall.
“With this new policy, we are creating a more equitable and supportive environment for our students that also recognizes the valuable contributions they make. For employers, this policy will lead to larger, more diverse talent pipelines, fostering inclusivity and driving innovation within their organizations. It is the right thing to do and will ultimately lead to a stronger fashion industry.”
LIM College Provost Scott Carnz said that the college is committed to working closely with industry employers to prepare for the transition to compensated internships and co-op experiences for LIM students.
“Our college is a leader in preparing students with the highest quality education and career readiness. Since 1939, we have been a pioneer in hands-on learning experiences and career development, enabling students to excel in the global marketplace and realize their dream careers,” he said.
“LIM has strong, enduring relationships with hundreds of industry partners, some of which have their own company policies that mandate compensation for interns and co-op students. For others, we are engaging collaboratively through information sessions and other means to help them move to a paid internship model, working to strike a balance between continuing to have a large number of internships available to our students and making sure they are fairly compensated.”
About LIM College
Founded in 1939 and located in midtown Manhattan, LIM College focuses on the global business of fashion and lifestyle. Offering master’s, bachelor’s, and associate degree programs, LIM prepares students for career success via an immersive approach grounded in real-world experience and learning by doing through required internships. LIM College’s commitment to excellence in business education ensures graduates are sought after by a wide range of employers, as evidenced by a Career Outcomes Rate of 97% for the Class of 2023. Alumni excel throughout all areas of fashion and lifestyle and have gone on to work for companies such as Chanel, Gucci, Alexander McQueen, Ross Stores, Michael Kors, Ulta Beauty, Google, Spotify, Saks Fifth Avenue, The National Football League, and many more.
Contact: Meredith Finnin
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Anne Roman
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SOURCE LIM COLLEGE
