Current Internship Pushing For FT

Hey everyone, I recently started a part time unpaid internship at a tenant rep boutique. They mentioned a few times already they're hoping/expecting I convert fulltime after graduation this spring. The partners mentioned they spend time and money training us and are taking on this risk in hopes we'll stay with the firm/produce. 

I never made that verbal commitment with them and I keep saying I'm excited to learn this side of the business in this market. I am in preliminary talks with one of the top tier brokerages already for a summer internship after I graduate. I prefer not pigeonholing myself in tenant rep but also don't want to unintentionally burn any bridges if this top tier brokerage gives me an offer for a summer internship and doing what I really want: IS and landlord rep leasing. 

 

Any tips on navigating this?  

Comments (3)

 
Jan 11, 2021 - 9:46pm

Have they made you a written offer? Given this is an unpaid internship, this "spend time and money" seems a dubious claim. They are brokers, and they are selling you! Nothing wrong with this, in fact, smart on their part (if you defer from applying for other offers, they win). How would I navigate... broker them back! Ask about signing bonuses, first year bonus guarantees, fee splits for deals worked during the internship, other perks, and of course salary! That will see how good/serious their advances are! 

 
Jan 11, 2021 - 11:20pm

Only have a written offer for the spring internship. I didn't think they were trying to sell me, but you may be right on this one. From my knowledge, all the agents there are Independent Contractors which I've done before but prefer not and rather make a small salary/draw like the big firms do to get started in order to pay my rent/living expenses. I will ask about the fee split though during the internship though. Thank you as always redever !

Start Discussion

Popular Content See all

Girlfriend vs PE
+70PEby Investment Analyst in Private Equity - Growth Equity">Investment Analyst in PE - Growth
Life Hacks during WFH | How do you avoid burnout?
+58IBby 1st Year Analyst in Investment Banking - Mergers and Acquisitions">Analyst 1 in IB-M&A
Leaked EY Email
+53IBby 1st Year Analyst in Investment Banking - Industry/Coverage">Analyst 1 in IB - Ind
I’ll never take WSO for granted again
+49OFFby Principal in Venture Capital">Principal in VC
What's so good about Evercore?
+36IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Have any 1st year analysts actually quit?
+33IBby 1st Year Analyst in Investment Banking - Mergers and Acquisitions">Analyst 1 in IB-M&A
I'm tired man
+26IBby Intern in Corporate Finance">Intern in CorpFin

Total Avg Compensation

January 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (31) $349
  • Associates (139) $232
  • 3rd+ Year Analyst (18) $155
  • 2nd Year Analyst (86) $151
  • Intern/Summer Associate (89) $144
  • 1st Year Analyst (344) $134
  • Intern/Summer Analyst (298) $83

Leaderboard See all

1
LonLonMilk's picture
LonLonMilk
98.5
2
Jamoldo's picture
Jamoldo
98.4
3
Secyh62's picture
Secyh62
98.3
4
CompBanker's picture
CompBanker
97.9
5
redever's picture
redever
97.8
6
frgna's picture
frgna
97.6
7
bolo up's picture
bolo up
97.5
8
NuckFuts's picture
NuckFuts
97.5
9
Edifice's picture
Edifice
97.5
10
Addinator's picture
Addinator
97.5