What is with these "paid" internships??
A recent trend I've been seeing is a bunch of fishy looking companies charging ridiculous fees to place desperate students into internships at either fake firms or small firms, Into City Prep seems like a famous one. Another thing I've noticed are firms CHARGING interns to work for them (eg. Alpha Capital, Amplify Trading, plus other random firms I've seen on linkedin etc).
The costs for these "internships" aren't cheap either, costing from hundreds to thousands. What the hell is this?
EDIT: I've made a list of firms that charge money for those curious: https://www.wallstreetoasis.com/forums/beware-of-…
Came across some of these postings too after my summer internship at an asset manager was cancelled. Whoever is making those posts is an asshole. On the other hand, you're smoking embalming fluid if you're paying for an internship. That's some next level Tai Lopez type bullshit
It's crazy how a bunch of these postings all came up exactly at the time when students started getting their original internships cancelled, knowing they could make a quick profit off of naive students. Borderline predatory imo
Agree, I highly doubt these are legitimate opportunities. Out of all places, believe it or not, my University sent out an email to all students advertising these paid "internships" a couple weeks back when it seemed like everybody's summer stint was getting pulled. It's a complete fucking joke.
What Amplify Trading offers is more along the lines of a course not an internship per se. But it does seem pretty expensive
What's despicable about Amplify Trading is they are targeting 16-17 year old kids who don't know jackshit about finance. Predatory af.
Scams are scams are scams are scams are scams
I could fully make a thread with a list of firms that make interns pay to work for them
And all of those would be scams
All scams
Any place that you’d be proud to have on your resume will have OCR Any place that you would not be ashamed to have on your resume will have their own Careers page and legitimate LinkedIn job postings that will link back to said Career pages
That’s all you need to know
Internships should pay you or, if unpaid and/or during an academic school year, give you college academic credit.
Please, students, consider broadening your horizons with internships earlier on. A summer internship at a Tier 2 accounting firm, to me, would be better for banking recruiting than slaving away at a firm you had to pay to work for just to practice DCF models.
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