Program Details

Internship Placement Description

Placements consist of professional training related to each individual's field of study and career path under the supervision of a designated mentor for a maximum of 6 months. HAESF cannot guarantee placements of desired length, in desired geographical locations or at preferred companies. However, individual suggestions and preferences will be taken into consideration whenever possible.

Interns' decisions to accept or decline a training placement offer should be based solely on the professional relevance of the training. Declining a professionally relevant internship offer equals to declining the HAESF scholarship and support.

Placement Process

After receiving acceptance confirmation from accepted Internship candidates, the placement manager in the US will begin to secure a placement at a US company or organization. This process takes significant time and effort which will require some preparation and due diligence on behalf of participants. Participants are expected to reply to email messages and comply with all requests within a reasonable amount of time.

The placement process typically takes 1-2 months, and may culminate in a phone interview(s) between the participant and a potential Host Organization. Once the placement is confirmed by both parties, the CIEE staff in conjunction with the Host Organization will complete an Internship/Training Placement Plan that includes specific objectives for the internship as well as set clear expectations for both Host Organization and Intern.

Placement Focus

In order for HAESF to secure an appropriate placement for you, HAESF must have a clear understanding of your areas of interest within an industry and make sure that they match your academic and professional background. While your professional focus is an essential part of the internship, your placement expectations should not be too specific to ensure that they do not considerably limit your internship possibilities. In other words, striking the right balance between focus and flexibility is of key importance.

TOO BROAD TOO NARROW MIDDLE GROUND
Finance Derivatives
Bonds
Institutional Sales and Trading
Capital Market
International Relations Emergency Assistance
Peacekeeping
Human rights
International Security

Having a few areas of interest (within the same industry) is the best way to go: e.g. venture capital and investment management; international trade and international development. Your internship is likely to be your first full-time “real work” experience. It is certainly a defining moment in your professional development, but it will not entirely determine the direction of your career. Skills are usually transferable within the same industry, and diverse experience is generally considered to be an advantage.

Placement Expectations

Training placements in the U.S. are very competitive. A number of American students from top American universities may be competing for a potential position alongside the HAESF Intern. HAESF takes pride in being able to secure high-quality placements at prominent American companies. Please be advised, however, that your internship will be an entry-level position, which, in addition to the tasks directly related to your career path, is very likely to include some administrative duties and inexpert chores. It is considered to be a typical internship component in the U.S. as long as it doesn't become a significant part of the training experience.

Length of Internship

The HAESF Professional Internship Program allows for a maximum of 6 months of participation, including a settling-down period of up to 10 days. Visa and sponsor regulations allow participants to arrive up to 10 days prior to the start date of the Internship (which will be sponsored by HAESF as a settling-down period) and spend up to 30 days for purposes of travel after the completion of the Internship (at the Intern's own expense).

Airfare

The HAESF Budapest office will purchase the Intern's plane tickets after they secure their J-1 visa. The Intern's airfare allowance will be based on the best available round-trip economy price. HAESF will pay for one round trip ticket.

General Award Info

Monetary amounts vary from Intern to Intern depending on the length and location of the individual internship. The award amounts are determined in advance based on each Intern's individual circumstances and are not negotiable. The maximum amount an Intern is eligible to receive is $18,000 for 6 months. HAESF considers it to be a generous award, significantly above average when compared to similar Internship programs or stipends available to international students at leading American universities. Please be advised, however, that the award is meant to cover only basic living expenses for a comfortable standard of living on a student budget.

Awards cover the following:

  • one round-trip economy class ticket from Hungary to the U.S.
  • room and board (in shared accommodations)
  • local travel
  • travel health insurance
  • visa processing fees
  • personal allowance
  • 10-day “settling-down” expenses

Awards DO NOT cover:

  • any dependent related expenses
  • vacation/ leisure travel in the U.S.
  • gift or pleasure shopping
  • hardware or equipment purchases (computers, laptops, printers etc.)
  • additional expenses that pertain to lifestyle preferences

Housing

Selected Interns will be responsible for locating and securing adequate housing for themselves. The housing portion of the Award is budgeted to cover a separate room in shared accommodations plus basic utilities. Housing should be within a reasonable commuting distance to and from work, accessible to public transportation and in a safe neighborhood. Living in a safe and affordable residential area usually involves a commute of anywhere between ten minutes to an hour. Longer commutes in large metropolitan areas of the U.S. are to be expected.

Visa Services

HAESF will assist Interns in securing J-1 visas administratively and monetarily. Ultimately, however, HAESF cannot guarantee the receipt of a U.S. visa. Interns will be responsible for completing all visa forms in a timely and accurate manner, meeting with U.S. consular officials for an interview and maintaining and submitting appropriate documentation.

Internship Restrictions

Selected Interns will be asked to abide by all U.S. laws, U.S. government's rules and regulations for the program as well as HAESF's internal policies, such as:

  • HAESF Interns cannot work, take a second internship or volunteer while in the U.S. unless such an arrangement is approved by CIEE in advance.
  • HAESF Interns are not allowed to receive any other monetary compensation in addition to their total HAESF Internship Award.
  • Two-year Home Country Residence Requirement
    Upon completion of the HAESF program, all scholarship recipients and participants are required to return to and reside in Hungary for a minimum of two years and are not permitted to stay or attempt to stay in the U.S. or any other foreign country for any reason.

    The residency requirement constitutes a moral and legal obligation that is at the foundational aim of HAESF to promote free enterprise, business and social development in Hungary through investment in human capital. Applicants should agree to uphold the Two-year Home Country Physical Presence Requirement as precondition for applying. If participants do not adhere to the Two-year Home Country Physical Presence Requirement, without the express written consent of HAESF or its designees, the entire scholarship award becomes a debt owed to HAESF, and the participant will refund all scholarship monies as well as any and all collection expenses, including but not limited to legal expenses.

    Because the Two-year Home Country Physical Presence Requirement is at the foundational aim of the Hungarian-American Enterprise Scholarship Fund, HAESF and its designees, are under no obligation to consider deferment of the Two-year Home Country Physical Presence Requirement.

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