I can't afford an unpaid internship
I recently started an internship at a boutique investment bank, I'm a current freshman at a semi-target so this is a pretty rare opportunity. It's a business development role where I still get experience overseeing M&A transactions while learning about the work and deal flow of the bank in general. I signed the contract but it'll be an unpaid internship, something I can't really afford because I have various expenses (college, etc.) I'm working for them virtually at the moment 20hrs/week while I'm in school but they expect me to start full time in-office during the Summer.
I work seasonally during the summer in landscaping and can make good money working full time. In the month of May I can make upwards of $12k as an independent contractor.
My question is, would it be ok to negotiate my hours so that I can still work and make money? I simply can't afford to have zero income for the Summer. I don't know if this is common in banks and I don't want to be disrespectful to ask for later hours/less hours and more projects and lose this position.
I was thinking that in May, I could work 10 hrs landscaping like I normally do, then after, log virtual hours for the firm. Then in June, start in-person in the office.
I guess tl;dr is it ok to negotiate hours with a bank in an unpaid internship with the excuse/reasoning that you have another job?
Thanks
Negotiate your pay, this seems ridiculous and it sounds like you’re being taken advantage of.
Full time for free? Tell them to fk off
Do not work full time for free, especially when you need the money. You can try to leverage the experience you're getting here to get a paid internship this summer. The contract means nothing. While you do this during the school year, see if you can at least get academic credit?
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