What even is a private equity internship at this point?
I fundamentally don't even understand how this is close to reasonable. They want you to work a minimum of 40 hours a weeks for 12 weeks with no pay. Batshit insane, Idk how the fuck anyone but the biggest nepobaby of all nepo babies could do this. Not allowed to link to the listing because I'm to junior of a monkey, but Sky Harbor Capital Partners are the folks pushing this bullshit.
Sounds like this is intended to be done during the school year and is remote / very flexible... plenty of firms do stuff like this.
Generally agree with you that unpaid finance internships are not a great thing in general, but PE experience is very valuable for someone trying to break in. They will likely have a line out the door for this
I did an unpaid 40hrs a week LMM internship my sophmore year and it sucked not getting paid, but it was also 1 of 4 internships in the city I went to school and gave me the ability to talk somewhat inteligently about a deal I worked on. Which does wonders when you're interviewing for SA roles where 90% of people have no deal experience. Obviously it would be best if the law required you to be paid but for a lot of people, especially non target/non finance city college students it can still be worth it (assuming you can afford to work unpaid). Would also add it can be very dependent on the internship. My LMM IB internship was very involved and great experience, some of these unpaid ones can basically be scams where you are a glorified cold caller or secretary.
I can second this don’t do a remote internship doing school. I got paid minimum wage (much better than nothing don’t get me wrong) and it still sucked.
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