Top 5 Differences Between Co-op Placements and Internships

Understanding the differences can help you decide which option best fits your goals.

You've probably come across the term “co-op” and “internship” before, especially if you've researched post-secondary programs. At first glance, they seem pretty similar. Both help you gain work experience, build your résumé, and strengthen valuable skills that help kickstart your career while in school.

But co-op and internships aren't exactly the same. Understanding the differences can help you decide which option best fits your goals.

1. Duration

Most co-op programs alternate between school and full-time work terms. At the University of Waterloo, students complete four to six co-op work terms depending on their program — the equivalent of about two years of paid experience. Internships, meanwhile, are usually shorter and take place once, often over the summer.

2. Earnings

Co-op positions are usually paid because they function as formally structured full-time employment and are centrally managed by a university's co-op department. Receiving some form of compensation is required to receive an academic credit. At Waterloo, the average co-op work term earnings are between $9,600 and $23,400 CAD.

Unlike co-op positions, internships can be either paid or unpaid, and compensation is not required to receive credit. Because internships are generally individually arranged, compensation often depends on the employer, industry, or location, and isn't always guaranteed.

3. Application process

Co-op puts responsibility in your hands. You'll apply, interview, and build connections just like in the real job market, helping you strengthen your professional skills early. At Waterloo, students use our job board to find a co-op job, though students have the option to find jobs elsewhere, too. Internships are often arranged by your school or found independently.

4. Degree length

Because co-op terms are built into your academic schedule, they usually extend your degree. At Waterloo, co-op adds an additional year to your studies. Internships fit into summer breaks or elective terms, allowing you to graduate on a typical four-year timeline. Both timelines have their perks — co-op at Waterloo gives you more work experience overall, while internships let you finish your studies sooner.

5. Support can look different

Another key difference is the resources available. In many co-op programs, there's a built-in support system to help you navigate the process. At Waterloo, students can access job boards, résumé and cover letter support, interview coaching, employer connections, assigned co-op advisors, and more, to help land jobs.

Internships tend to be more flexible, with students generally being responsible for finding opportunities independently. However, every program works differently, so make sure you do your research beforehand.

Which is right for you?

Both co-op and internships help you gain professional experience before graduating. The right choice depends on the kind of university experience you want. And if neither is for you, don't worry, there are plenty of other ways to gain experience!

Thinking about applying to a co-op program? Learn more about the world's leading co-op program at Waterloo!