Just lost internship opportunity. Any advice?

So I hustled pretty hard the last few months and got an ER internship at a decently reputable boutique. However, the firm required that the internship be unpaid and that I receive academic credit. I'm going to be entering a msf program this fall so I asked the school if I could receive credit and they initially said that I could. I told the firm this and they brought me in to meet the team and it went really well. So last week, my main contact at the firm tells me I can start as soon I give them an official letter saying I'll get the credit. I contacted the school again at the end of last week to get the letter and today they said they can't give it to me because I'm an incoming msf student. They thought I was an undergrad initially, even though I made it clear in the initial email that I was msf student. The firm was nice enough to wait for me to get the letter in by early this week (They wanted me to start this past Monday). Tomorrow I basically have to tell the firm that I can't do the internship after they committed to me as a intern and even waited on me for almost a week. So not only did I lose out on something that would significantly boost my resume, it appears as though I will also make an ass out of myself and burn a bridge. Any advice on how to handle this mess?

 
Best Response

I have a feeling you settled way too quickly, I may be wrong but I don't believe you've thoroughly exhausted all options. Who cares where the credit is from or where it comes from, the firm just needs to have proof that you get some kind of academic credit (Which is stupid imo, why can't you just work for free, the credit actually costs us money).

What I'm saying is reach out to some professors, make up some independent study or something. There's a million ways schools can finagle these things (my school did it for me, undergrad but still). Also, I know someone who got an internship after they graduated, and was able to receive credit through a community college. The internship credit was his only credit through the community college.

Don't settle, reach out and find a way to make it happen.

 

UMass has a program where any student from anywhere can get credit for internships for 195 bucks/credit undergrad or 220/graduate credit. You dont have to be a student to get the credits. Contact them immediately and use this site as a reference to show youll use them as a means to get credit for the internship.

http://www.umassulearn.net/financial-info/fees-expenses/ind-study-pract…

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” - Schopenhauer
 
she_monkey:
why dont u just do it unpaid and not take the credit?

I think it's because lately there's been a lot of law suits surrounding "unpaid internships," and legally people are only allowed to work unpaid if it is for an "educational experience," so to cover their bum the firm needs to be able to prove or show they only hired interns in the process of helping said intern gain credit to their school.

 

Repudiandae quasi deleniti placeat nisi sit dicta. Voluptas cum enim rerum consectetur sint temporibus. Sed doloremque itaque enim voluptate sint. Aspernatur suscipit aspernatur quas eos. Et eos aliquid est vel rerum laudantium qui. Veritatis sunt omnis nemo et voluptatem quis. Laudantium ut ducimus saepe et quos.

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” - Schopenhauer

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”