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Wouldn't say internships "define" career paths, bu they certainly boost a resume to make it more attractive to employers (if that's what you meant).
Engineers in general are very versatile professionals, I know a guy that went from mechanical design to a hedge fund (though post-MBA). I'm planning to do something similar (though not in finance). So to say summer internships define a 30+ yr career sounds like an overstatement to me.
My 3 internships had nothing to do with my first job, and my first job doesn't have much to do with my current one. But they sure did help me market myself.
See that often with engineering students. Get a bachelor in engineering and then go on to get a MBA to become an investment banker or so. Especially since finance corporations and banks like to hire engineers as well. Initially to me it seemed like a great idea when seeing how much investment bankers make, but then when seeing how much it costs/debt to get a MBA from a top business school I was like :x. Especially for going into a field I dont know if I'd like or not. I guess its the same route if you want to be a CEO also
oh i forgot about the majority of ISE (imagination, smiles, and engineering) majors tend to gravitate towards business school.
all the money is in finance. you go into engineering because you like making things. yes you will get a job. a lot of being an engineer is tedious and takes lots of data.
business you get hired to sit and stand around tables talking about ideas.
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