No Name Firm "Research Analyst" Unpaid Internship
So I've been looking through my school's career portal to apply for internships next summer and have seen a few postings from no-name firms for a semester long "research analyst" position or something similar. Here are a few responsibilities listed in the posting:
-Identify and evaluate potential targets
-Conduct research to identify and evaluate industries of interest
-Interface with brokers and bankers to source opportunities
-Analyze financial statements, business models and other information in Confidential Information Memoranda.
-Conduct due diligence on potential target
Has anyone had any experience working a position like this? I'm currently a rising junior and have internship experience doing research and advising but no banking experience, so I'm thinking this may be worth the time and could teach me a few things while boosting my resume. Or maybe it's complete BS? Any insight would be much appreciated.
I was too proud to take any unpaid internship as I had luxurious needs such as eating ramen, rent, and other bills.
However, this COULD be worthwhile IF the manager in charge of said role is an actual mentor whom is looking to train you for a potential real position in the future.
The other item that is baffling is accountability and duty to clients. The firm is trying to produce quality work for free. My first day of economics taught me there ain't no such thing as a free lunch.
All I know is there would be no chance we'd have an unpaid intern at our shop handling CIMs or interfacing with bankers.
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