So I'm planning on taking courses over the summer, and there are local branches like Merrill Lynch Wealth Management. How would I go about inquiring if I can get an unpaid part-time internship like cold-calling potential clients?
Do I do it through email or a phone-call? And how do I start that conversation?
EDIT: The primary reason I am trying to pursue this is because I'm coming from an Engineering background,and I figured if I have to take classes anyway, this would be a nice way of showing that I'm interested in more business roles.
You're better off avoiding those PWM cold-calling internships.
^
From what I've read from Victor Cheng, he attributed his ability get first-round interview his senior year to the PWM cold-calling internship he took during the school year his junior year. I simply don't have any real work experience, and I thought this would be a nice way of getting my feet wet in business.
I agree with you. An MD at BAML told me to do the same, to harrass them. I need help figuring out how to approach this.
Didn't Land Anything.. Will Intern For Free, How To Approach Without Coming Off As Desperate (Originally Posted: 01/26/2011)
So I go to a non target, didn't land any interviews at all. I've emailed about 20 random firms around town, got 1 response from a president saying he'll see what he can do for me
I have a 3.43 overall / 3.71 business GPA, very mediocre
The next couple of weeks I'll be looking for more firms to email. How should I let them know I will enter for free without coming off as desperate? Or does that even matter?
Where are you from?
I live in Austin
I'm surprised you found 20 firms in Austin to email....if you are at UT that is hardly "non-target".
I dont go to UT =*(
advice for finding an unpaid internship now... (Originally Posted: 06/12/2009)
I know it is too late for the internship hunting now. my situation is a little complicated, I'm not live in nyc but found an unpaid internship in a small hedge fund firm here last month. So I'm relocating here for this internship. But it turns out to be a part-time internship, so I have plenty of time left each week. So i'm willing to find another part-time job to gain more expensive...but since I'm not from nyu or cu or any other colleges in nyc. is there any other places I can find the job posting or sth? Thanks very much for any advice
Your best bet is to search everywhere you can and talk to people. Google around for small boutiques in NY and send out inquiry letters (mention part time and, possibly even that you are o.k. with unpaid - just want experience). Check Craigslist, EFinancialCareers and so forth. It's tough, but tighten up a solid inquiry letter (make sure grammar and punctuation are spot on), and go for it. You have nothing to really lose this late in the season. Best of luck.
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Thanks a lot for the advice, I'm doing the same thing in LA...
doostang.com cold calling
Don't be discouraged if you don't get anything because hiring cycle ended 2 months ago.
i'd definitely call instead of e-mail if you can
Call, email, then following up is the most important so they remember you because i'm sure there will be plenty of other people doing the same. Best of luck!
Just like everybody has said, the best thing to do is just brute force it. As an example I was in a similar position and I contacted as many firms as possible. I didnt get any responses but then about a month ago a firm I didnt contact me sent me an email asking if I could come in to interview. Basically one of the firms I contacted passed on my info to other firms. So each firm you contact may be window to many more opportunities.
How do I let a firm know I'd be willing to intern there unpaid? (Originally Posted: 02/10/2013)
I made connections with an associate at a BB IBD office in a satellite city. This branch apparently doesn't have any official interns, but how could I let a company know that I'd be willing to intern there unpaid (or even compensate the involved workers in some way or another) in order to gain exposure to an investment bank's functions?
I'd recommend using English.
Ouch. Good stuff BlackHat
anybody try doing this in the past? I'm a second-year student, so it's not VITAL that I get a job for this summer, but I want to get an edge for the real-deal recruiting next year.
Next time you talk to the associate mention how interested you are in interning for the group. Say you want the experience and knowledge that goes along with it and thus you are willing to be unpaid. Further, make sure you demonstrate and explain how you will add value. They likely haven't had an intern in the past because they have not deemed it necessary, so show them that you will bring something to the table.
Do this, but maybe initially say you are willing to work for less than the industry average and then up the ante to unpaid if they are still hesitant.
Also, do NOT offer to pay the 'involved workers'. They will either think it's a bribe or you're an idiot. Even worse would be if they thought that was ok. Please do not say that.
LHDan, I always thought that the NYC BB's bring in interns from their target schools because they will be assets for the future, not in the present. The associates, vp's, md's obviously have to train the interns initially, but when they are trained, they (at least in theory) will be able to provide good services to the firm. To be honest, too, I would love to work in IBD at this BB's satellite location if the real Wall Street branch doesn't pan out.
BB IBD will never let their interns work for free. If you don't get the internship, its not because they can't afford to pay you.
Heard this from a BB MD as well, I wouldn't ask..try boutique firms you'll have a better shot.
This. Any established bank with a real HR won't let interns work for free. But that doesn't mean you cant negotiate to work for school credit instead of pay
unfortunately, many bigger companies can not have unpaid interns due to company policies. But finding a boutique unpaid would be easier.
I spoke with an associate at a BB about this a while back. She told me not to offer, her reasoning being the people she works with use their salaries as a measure of value-added, so when people offer to work for free they just assume that person's useless, or a spoiled brat, or both. On top of that, Associates aren't high enough to be caring about the firm's expenses, so they don't consider what an intern costs when recommending people for interviews. If I were you, I would instead make sure the associate likes you, then I would express your interest in a position flat out and ask about how to get in the door. Say you want to build experience in banking whatever it takes, and if your price is an issue for them, let them bring it up, not you.
even if it's a satellite location?
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