2017 Series • No. 2017–01
How Do Summer Youth Employment Programs Improve Criminal Justice Outcomes, and for Whom?
by Alicia Sasser Modestino
Today’s Interns, Tomorrow’s Professionals (TIP) is the Federal Reserve Bank of Boston’s paid work and learning internship program for eligible high school students who have completed their sophomore year in the Boston Public Schools. It starts with a developmentally rich summer work experience that includes job coaching and skill-building workshops. Then, based on available openings and individual interest, effort, and performance, some students are selected for an extended year-round internship program that can last up to three years.
TIP seeks to spark upward social and economic mobility for young adults. It’s run in collaboration with our long-time partner, the Boston Private Industry Council (PIC). The Boston Fed is proud of our 30-year partnership with PIC and remains committed to providing opportunities to Greater Boston's marginalized youth, so they can attain long-term employment and financial stability.
The Boston Fed recognizes that employer investment in human capital can have a lasting, positive impact on an employee’s career and finances. A primary goal of TIP’s program design is to explore innovations that could address persistent barriers to the economic stability and success of lower-income youth. The program reflects cutting-edge research and the most promising practices in the youth development field. A paycheck and training in key interpersonal skills—like complex problem solving and conflict resolution—help TIP provide an impactful “first-job” experience that offers our interns on-ramps to professional employment opportunities in today’s competitive job market.
Along with the TIP program, the Boston Fed has created a business network of youth employment champions—a subgroup of PIC’s employer network—who work together to address common challenges, create efficiencies of scale, and promote practices that will lead to more equity in the opportunities that summer employment can bring to young adults. We will continue to assess and report on TIP’s progress to this network and to key stakeholders and organizations that serve youth throughout New England.
1982: The Boston Fed, in partnership with the Boston PIC, launches an internship program for Boston high school students to provide a pipeline to employment through summer jobs. The program is housed and managed within the Bank's "Public & Community Affairs" department—now "Regional & Community Outreach” (R&CO).
1990s: Classroom at the Workplace is implemented to address the PIC's request that academic support be provided in the program for interns who need it.
2006: In response to growing concern over low-income students' lack of access to careers in the financial and technology sectors, R&CO revamps the program, renaming it, "FinTech Scholars." FinTech is designed to cultivate interest in youth for careers within these growing segments of the job market.
2014: With a strategic goal of contributing to increasing human capital in the region, R&CO uses a variety of research to inform further enhancements to the program that aim to help local youth achieve both workplace success and personal financial stability. This research informs the restructuring of the summer FinTech internship program's enrichment component, which includes training in both soft-skills and hard-skills content with a just-in-time delivery approach (see below).
Those who do well during the summer programming are eligible for the year-round program which supports interns for three critical transitional years—junior year of high school through first year of post-secondary education—helping students maximize present and future employment opportunities.
2017: To better reflect numerous program enhancements made over the previous three years, the FinTech Scholars internship is renamed "Today's Interns, Tomorrow's Professionals," or the TIP Program.