Working in IB for free?
Is there any place that would let me work for free? This would most likely only work for an internship at a dodgy boutique though.
I don't need the money since my parents are relatively wealthy and I just wanted to go into a really prestigious career for a few years before retiring and living off my inheritance.
The ideal scenario would be to get into IB -> do 3 years as an analyst -> PE associate for 3 years -> retire and live off inheritance or leverage my elite experience to start a tiny venture capital fund.
Realistically I might not even get into IB after graduating. :(
I really want IB more than anything and would be willing to do it for free. Most people do IB for the pay and if I'm willing to work for free - even if it's just for an internship, hopefully I'll have better odds with some boutique taking me on.
Based on the most helpful WSO content, here are some insights regarding working for free in Investment Banking (IB):
Unpaid Internships at Boutiques:
Strategies to Secure an Internship:
Alternative Paths:
Timing and Persistence:
Potential Downsides:
In summary, while working for free might seem like a viable option to break into IB, it comes with several challenges and potential downsides. It's essential to be strategic, persistent, and open to alternative paths to achieve your career goals.
Sources: Can I ask for an unpaid internship?, Will Intern Anywhere In the U.S. for free, SA Approach at this stage, Breaking Into Banking: Your Timetable is Everything, Online internship at an U.S boutique, from Europe?
Sometimes, I wish there was a finance version of Maximbady doing youtube reaction videos to posts like yours—would make you more valuable—entertainment-wise—than you already are.
If you're not going to post helpful comments then don't post at all
This isn’t elementary school, lmao.
the return of the clown
You probably don't want to hear this but maybe just come to peace with the potential fact that you are just not good enough, which is perfectly okay. And I am sorry. I’ am sorry you are a hothouse flower. That you are nothing. You are curdled cream. Maybe you should write a book or collect sports cars or something. But for the world? Nah. I am sorry. You’re not made for it.
Youre welcome to be my bitch and I’ll give u the IB Analyst title for 3 years. Got tinder swipes and responses/date scheduling I could use some help.
You are back!
With almost 100% confidence I can say that if instead of making these sorry posts on WSO you used the time to write good cold emails you’d have at least 3-4 more chats/interviews that could have the potential to convert.
Dude just go do a corporate finance job for 2 years, kill your GMAT and do an M7 MBA. So many people don't break in initially and end up just fine.
But to answer your question, no - working a FT job for free is illegal in the US, the "loophole" is working for free in exchange for college credit, which only applies to internships. These unpaid internships are the norm in industries like fashion, but in the finance world the only places that do that are the ones you do not to work for
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