Committed to Unpaid Internship ?
Hey guys,
Just graduated and I am in a bit of a tough spot and would sincerely appreciate any advice here. I accepted a unpaid internship in equity research 2 weeks ago in downtown NYC that could lead to full time placement upon 4-6 months (or at the very least experience to put on my resume) that would start on Tuesday. Another company that I sent my resume to a few weeks ago contacted me earlier about a research associate position this week and invited me in today for a "super day" of sorts where I met with 6 members of the team. I thought it went really well. The company pays at a competitive rate as the street.
My concern here is that I feel as if it is unprofessional, or even rude, to back out of a position that I already committed too if I do get offered. I would ideally like the internship position more so as I think it is a better chance for me to learn the industry and it seems a bit more interesting. I, for some odd reason, would feel kind of guilty for backing out of the spot especially after he seemed so willing to give me a chance. He was also adamant about letting him know 2 weeks in advance if I find an opportunity else where. At the same time it would be very hard to turn down a 75-80 k salary as someone with student loans.
I really do appreciate any advice or what you would do in this scenario. Should I let the internship company know there is a chance I might take the other opportunity tomorrow before I start? I should hear back from the other firm hopefully this week or next.
Thanks in advance.
Look up threads about reneging on an offer.
I don't see that's there is anything wrong with backing out of this job, especially because it's unpaid.
If you get the offer, you could approach the company and explain the situation and that you really need to have some sort of compensation. I hope others add more insight but if one company thinks you're good enough to get paid to work, then you have some leverage in the situation.
Leaving aside the positions themselves because I don't know enough about the two and what you want, do not feel bad about leaving a post undergrad unpaid internship. Personally I think anything past, maybe, an in school year or after freshman year summer (and not full time) unpaid internship demeans the intern's value. Like you said, you'd be giving up a $75k salary (meaning the job isn't BS) for the chance that you'd get an offer in 4-6 months working for free. Risk/reward's way out of whack on that one.
But don't let the current internship know until you get the offer, try to negotiate then and don't feel bad if you have to leave. Try not to burn bridges but any sane person should be ok with it.
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