It is unpaid... so perhaps they don't really care that much. Ask to visit them or something if you want to do it.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

I was in the same boat; unpaid internship at a boutique in an attractive industry, some quick WSO search results had bad reviews and people actually PMed me telling me not to do it. I verbally accepted and continued to look for better opportunities at more reputable firms (with the intention to use it as a backup in case my search did not work out). I got a better (paid) offer at a decent firm so I do not know how it would have worked out.

 

I cold called a boutique, they seemed to like me told me to come in and check it out. After going in it was barely an interview but I wanted something IB. Seemed weird, guys drassed casual not what I thought IB was like but I took it. Seemed to be one of the best things I've done coming from a nontarget, I have an interview tomorrow with a reputable MM because my boss was a partner at the firm. At first I was doing BITCH work...filing answering phones etc...but when they finally gave me some real work I proved myself and have been exposed to various deals/companies and I've been able to sit next to senior members watching a deal go from the pipeline finished. Somethings just work out weird try and find the names of the people working there run a search on linkedin and what do you have to lose...

 
looking4anything:
.. thanks?

A certain "top" boutique made FT offers after two 30min, albeit in-person, interviews so it's not outside the realm of possibility that a much smaller boutique would make an unpaid offer with just a phone interview. For the larger firms, you don't even reach the decision-makers (e.g. MDs) until the final rounds.

 
Best Response
singularity:
looking4anything:
.. thanks?

A certain "top" boutique made FT offers after two 30min, albeit in-person, interviews so it's not outside the realm of possibility that a much smaller boutique would make an unpaid offer with just a phone interview. For the larger firms, you don't even reach the decision-makers (e.g. MDs) until the final rounds.

I know a decent MM firm that gave out SA offers after just one 30 minute on campus interview.

From what I've heard, boutique internships can be hit or miss. At some places you get to do some real work and actually learn quite a bit, but at other places, you're pretty much doing bitch work the entire time. So I guess the best bet would be to try to talk to some of the former interns if you can.

 

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