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In my humble opinion, LinkedIn floats in this weird space of "you need to have, but it won't really help you."
I keep an up to date profile, congratulate people on milestones, etc but it has never been a strong networking tool and not for lack of trying.

My experience echoes what others have said, internships come from your network and building a network takes times. It is very rare that you can simply say "I am looking for internships, please give me an internship." Usually when people talk about opportunities with someone, they already have rapport and have come to them for career advice. Personally I have a lot of mentors I keep in touch with, share career updates with and ask for advice. I have yet to ask any of them for a job because I know I am too green for the areas they are in and I would basically be asking for an above and beyond favour.

I went on the Mergers & Inquisitions and some WSO thread advice which is basically contact people directly via email, explain who you are, that you are curious about they do and ask if they could spare some time to tell you about what they do. Not everyone responds, but people are more generous than you think, I couldn't believe when an equity sales MD agreed for coffee with me when I was back office mortgages!

It will take time, people will not be receptive sometimes, but if you put yourself out there and are honest it will happen.

 

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