An internship experience is considered to be of paramount importance. It helps explore the link between academics and the world of work, as most of the students joining business schools in India have no or relatively very low work experience. The purpose of the present study was to validate and explore factors that affect the summer internship experience of business school students in India. In this study, the scale for measuring student satisfaction was validated based on four factors: (a) learning experiences during the internship, (b) the effectiveness of the pre-placement activities for the internship, (c) the support offered by the placement team and (d) the support offered by the employing organisation during the industrial internship in the Indian context. A survey was administered to 235 business students in Mumbai. In the context of the present study, the student internship scale was first validated keeping in mind Indian ethos using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Furthermore, structural equation modelling (SEM) using analysis of moment structure (AMOS) was used to test the model. Multigroup structural equation modelling (MSEM) was conducted to check the impact of gender on the overall scale. The study confirms that factors like student learning experiences, pre-placement activities, and assistance provided by the placement team and support from the employer organisation (EO) are important to understand a student’s overall perception on internship. This is the first study in India that can guide both educational institutions and EOs to enhance the internship experience of the management students.