Private Equity Internship _ Asking to return?
This summer I interned with a PE firm in the Hartford, CT area, with their HQ in NYC (visited a few times). It was a 10 week unpaid program, that was roughly a 25 minute commute. At the orientation, and once more in the early summer, there was an emphasis on retaining select interns to work PT during the semester. Unfortunately, NONE of the 6 interns in the NYC office, and neither I nor the other intern received offers from the CT office.
2 summers ago, my friend interned with the firm, and both he and the other intern received offers. Surprisingly, they both denied them. I'm wondering if this had anything to do with the shop's decision to not extend any opportunities this year?
More importantly, I'm wondering if it would be out of line to ask this firm for paid work over winter break? I always work during the semesters and was really anticipating an offer to stay. Even though it was unpaid, I stayed until the last person left on some days, and even took advantage of doing a Training the Street type program to show I'm worth something.
Again, would I be out of line to ask to come and work with them over winter break/future semester? If so, how would I ask for the opportunity?
It definitely doesn't hurt to ask. I would be sure to get in touch with one or two people with whom you were able to develop a good working relationship with who could vouch for you.
I doubt they would let you work just over winter break, since that's only a 2 or 3 week period.
Why can't you just ask your friend the reason he denied the offer, that should give a good idea of he firm's culture/profile. It will also help you decide whether or not it is worth asking for another internship. BTW, two unpaid internships are frowned upon, at least at our firm.
So because it's a PE shop that funds their own startups, its not a structured environment, which makes it stressful. Either way, he had a bad time with them. During my experience, there was a few more senior members on the team who acted as mentors. My friend now says that declining the offer was one of his biggest life regrets.
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