2017 Series • No. 2017–01
How Do Summer Youth Employment Programs Improve Criminal Justice Outcomes, and for Whom?
by Alicia Sasser Modestino
The Boston Fed's TIP internship program seeks to catalyze the upward social and economic mobility of young adults. The Bank is proud to continue its 30-year partnership with the Boston Private Industry Council and remains committed to providing opportunities to Greater Boston's low-income youth so that they can attain long-term employment and financial stability.
Recognizing that employer investment in human capital can have a lasting, positive impact on financial and life-sustaining outcomes, we restructured our long-standing high school internship program with the goal of increasing the level and endurance of participant success. To accomplish this, we:
A primary goal of the TIP program is to explore innovations that could address persistent barriers to the social mobility of low-income youth. For example, we are currently investigating the potential impacts of mental health supports with strengthened personal and professional networks on job retention and employment mobility of these young adults.
Although the Bank created this program to benefit our Boston-area youth, we are working to create a network of youth employment champions who work together to address common challenges, create efficiencies of scale, and promote promising practices that will lead to more equity in the opportunities that summer employment can bring to young adults. As we continue to assess the impact of our approach, we will communicate our progress to our employer network, as well as youth-serving organizations and other key stakeholders 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.