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Internships are considered a high impact practice in engineering and have been associated with positive outcomes for engineering students. Despite the growth in internship participation and calls to increase the quality and quantity of such, little is known about the motivation-related impacts of internships and few studies have focused on students' first position after graduation (FPAG). This study, grounded in Expectancy-Value Theory, used a concurrent mixed methods analysis with data drawn from a larger study and found that participation in an internship had a significant impact on both student’s perceptions of preparedness and expectations of success in obtaining their FPAG. These findings align with prior work and provide foundations for future research exploring differences across demographics, including race and gender.