internship

[in-turn-ship]
noun
1.
the state or condition of being an intern.
2.
the period during which a person serves as an intern.
3.
any official or formal program to provide practical experience for beginners in an occupation or profession: an internship for management trainees.
4.
a position as a participant in such a program: She has accepted an internship in a law firm.
5.
any period of time during which a beginner acquires experience in an occupation, profession, or pursuit: She had a long internship before starting her own recording studio.

Origin:
1900–05; intern2 + -ship

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
internship (ˈɪntɜːnʃɪp)
 
n
chiefly (US), (Canadian) the position of being an intern or the period during which a person is an intern

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
The percentage of students with internship experience varies widely by major.
There is no guarantee of a job or anything else when the internship comes to an
  end.
The other internship is awarded based on a portfolio.
We will keep resumes on file, and contact students in the event an appropriate
  internship develops.
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