"Apply to these High Paying Jobs NOW!"
Gotta love these spammy emails from WSO...the headline is, "Apply to these High Paying Jobs NOW!", and they're full of un-paid internships! (These are illegal, as per the Labor Department, since they don't pay minimum wage.There are only a few exceptions for kids/farm workers, but I digress.) Please give us the honest, fair shake we expect whenever we're on this forum, WSO.
I can't even begin to tell you how many boutique IB shops offer unpaid internships. However, many of the interns at the boutique I interned at (unpaid) went on to get gigs at Evercore, Harris Williams, Credit Suisse, Barclays, etc. So to each their own.
Un-paid internships are legal as long as they act as an extension of the classroom (and not just trivial work like data entry). Thus, it is theoretically possible to to have a legal un-paid internship. But, let's be real, un-paid internships are generally data entry.
I have no unpaid intern offers out there, and I really don't believe in unpaid work, even if the contribution is negligible. That said, this isn't accurate. If interns are gaining education and training that they couldn't get elsewhere, they can be unpaid.
I am somewhat bothered by interns that think they deserve something. Getting a name on your resume has a lot more long term value to you than you will ever provide through your "contributions" as an intern. It generally takes more time to teach an intern to do anything than it would actually take for a full time person to just do it on their own.
Sorry for the rant, but I've seen way too many threads/comments lately with college kids expressing their opinions that they feel that they are owed something or are above starting from the bottom. Having a good GPA through a couple years of college does not equal a productive employee.
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