Interning for no money??
I have a part time remote private equity internship for Blackmore partners in Chicago freshman year summer, should I work there even though it is unpaid? Is it a waste of my time or will it actually look good on my resume?
Thanks all, Future Jordan Belfort
After doing a quick perusal on LinkedIn, it looks like a small minority of people end up in positions that you’re probably after (IB/PE, although many are still in school and people likely remove their freshman year unpaid internship from their linkedin at some point). So let’s say there’s a 5-10% conversion to IB/PE, assuming that you grind networking and technicals. Worst case you learn nothing and you’ll have a couple of stories to leverage a more interesting finance internship for sophomore summer. My first internship was unpaid and at a no name startup, I learned a ton and had plenty of stories, which let me leverage the experience into a paid role during the school year and next summer. If it sucks/you don’t like PE, there’s no shame in quitting half way through, they’re not paying you and it’s your freshman summer, just know that you’ll likely have to start from square one again if you do so. My advice is to take the offer, and continue looking for a different internship for the rest of May or again in August for the fall/winter, as you’ll need more than this to land a SA/FT offer somewhere.
They must be raking in the money if they can't pay an intern. I wouldn't work for free. Looks like they are expecting 30-40 hours per week. They should pay something even if it's not a lot. Sounds like Tobin & Co.
Blackmore is a known scam/not a real PE internship. They have 1 portco, there are numerous scandals/horror stories online, the list goes on. If you really have no alternative then I would take it, but seriously consider other options.
If you believe that your effort / energy / work is worth nothing, then go for it.
If you have any self respect, I'd look elsewhere.
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