There's this one Asset Management firm I found that I think would be great to intern at. It's a legit team, great people, great track record, all that jazz. I honestly wouldn't mind ending up there FT.
I just reached out to them this Tuesday and I think the talks went pretty well but they're not sure if they want an intern class this year; it's to be determined. They normally compensate interns rather nicely, and I suspect that might be why they're hesitant (they're not sure how much work will be available during the summer and whether or not I'll be a value-add for the cost).
I place a GINORMOUS premium on the experience, and quite frankly i can cover living expenses on a couple thousand less per month than their normal internship pay. Would it look bad/desperate if I suggested a major comp. cut to get a position? Or what about a major comp. cut + bonus structure all the way up to normal pay if I can deliver results/perform well? How long should I wait before reaching out to them with this idea?
Or do you guys/gals think that the situation is: the time invested into me wouldn't be worth having an intern plain it (even though I have a decent finance background and I feel that I'm an independent worker who can figure out stuff/get stuff done without someone holding my hand.)?
Thanks WSO community for helping me out so far. I humbly look forward to any advice you guys are willing to impart, and hopefully I can walk out of this recruiting season a success story!
Best, BankingWaffle
If you have no other alternatives, taking a pay cut to gain critical experience (while delivering results) will only pay off. If you have family that can support you through it then go ahead.
If you have to pay the bills, find a corporate finance internship and leverage that experience in your pitch next go around.
Worth a shot in my opinion but from experience larger firms don't really care about a few grand, so that may not be the reason for their reservation.
I will add that it's not a large firm. Team of about 7 - 8. Boutique.
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