Should I ask to work for free?
I am very focused on getting into tech investment banking, and I recently went through the recruiting process, receiving over six super days at top 30 investment banks. Unfortunately, none of them offered me a position, even though I always received positive feedback after the interviews (luck of the draw they say). I come from a non-target school with a 4.0 GPA and a pretty good tech internship right now, which will give me a lot to talk about in the tech space. I am graduating in 2026. My goal is to get into a BB and NOT go to the buy side (although I don't think I will stay in investment banking forever).
I don't know what to do at this point because I took all the right steps and gave it my best shot to get into tech investment banking from university, and it somehow fell through. But I am not here to grieve. I would rather not work my way up from a boutique to a middle-market firm to a bulge bracket. So, I was thinking maybe I should give it a shot to contact the firms that rejected me at the super day stage and ask if they would take me in if I offered to work for free. I know this sounds like begging, and I don't want to come off that way, as it would only hurt me. They would probably give me more administrative tasks and treat me worse as an 'employee'. Worse yet, they might ignore me and think less of me for even asking.
So, I ask all the full-time hires and more senior workers: should I give this a shot and ask? How should I approach this? All your thoughts are really appreciated as I feel a bit lost right now. I truly don't see myself working outside investment banking.
No. The amount you get paid as an intern is pennies to the company, and is essentially no different than working for free. I have to imagine as well that even an un-paid employee means lots of paperwork and hassle.
Unless this is a 5 man shop where the cost actually matters, if they didn't want you as an intern then they don't want you for free. Keep applying, keep grinding, stay hungry- you'll find something.
Based on the most helpful WSO content, here are some insights and advice for your situation:
Networking and Persistence:
Alternative Paths:
Cold Emails:
Working for Free:
Continued Learning and Preparation:
Long-Term Strategy:
Remember, the path to investment banking can be challenging, but persistence, networking, and continuous improvement can significantly increase your chances of success. Good luck!
Sources: Non-Target with Great Experience and 4.0 GPA - How do I get people to talk to me when Networking or turn HR's head when I apply?, Q&A: Semi-Target/3.5GPA -> Mid-Tier BB IB SA (Advice/Ask Me Anything), 2019 Investment Banking Full Time Recruiting - Do I Have a Chance?, How screwed am I??, Non-Target to MM IB: My Advice
Never ever work for free
Can’t upvote this one enough
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