Sophomore Internship advice - Two offers

I'm interested in what people think about two offers I'm currently looking at and which I should take if I'm interested in a S&T SA position for next summer.

Option 1 - Internship at the SEC.
The Securities and Exchange Commission is seeking multiple summer and longer
term interns in the field of Quantitative Research (Financial Engineering)
to work in our New York Regional Office. These positions are voluntary
(unpaid) and only open to US citizens.

Option 2 - Paid internship at Assured Guaranty working with municipal bonds and reinsurance of bonds.
Primary duties/responsibilities
•Collecting data from various sources including news and financial websites.
•Organizing information for quick dissemination to the group’s analysts via the company’s internal electronic data management systems (EDMS).
•Assisting analysts with the preparation of charts used for presentations of sector reviews.
•Reviewing, per instruction of analysts, of specific legal documents to ensure compliance with disclosure requirements.

 

Cash is King....Take whatever pays more and NETWORK like a madmen.

No need to ever work for free, Knowledge doesn't pay the bills kid. Get the $$$$ network and move from there.

I have no idea how kids work for free.

Eventus stultorum magister.
 
Johnny Ringo:
Cash is King....Take whatever pays more and NETWORK like a madmen.

No need to ever work for free, Knowledge doesn't pay the bills kid. Get the $$$$ network and move from there.

I have no idea how kids work for free.

Terrible advice. Legitimately terrible.

OP, DO NOT TAKE POSITION JUST FOR $ at this age. Take what will be more transferable skills for S&T and what will give you a better overall experience in terms of exposure to the industry and what you want to do FT.

congrats on the offers btw. silver bananas welcome ;)

 
USCstudent26:
Johnny Ringo:
Cash is King....Take whatever pays more and NETWORK like a madmen.

No need to ever work for free, Knowledge doesn't pay the bills kid. Get the $$$$ network and move from there.

I have no idea how kids work for free.

Terrible advice. Legitimately terrible.

OP, DO NOT TAKE POSITION JUST FOR $ at this age. Take what will be more transferable skills for S&T and what will give you a better overall experience in terms of exposure to the industry and what you want to do FT.

congrats on the offers btw. silver bananas welcome ;)

Hrmm. Lets see, The Interns now a days actually do work and are not just a bunch of KnobJob errand boys who fetch coffee, lunch, dry cleaning.

If you intern for "the position" for free and for the experience where do you work for money for your other expenses? Say you don't have a trust fund mummy and daddy and you are actually paying for your own clothing and bills? Not saying the kid who started this does or doesn't . I don't know him and don't judge him either way, I am stating both sides.

And secondly, If you Intern for "no money" would you take a position as a "PM or MD or Whatever else" for $4.50 a day (subway stipend) for the experience? No you wouldn't. You have to feed yourself and you have to pay the man, and in order to do that; the man must pay you.

I don't care how old or young you are. Working for free is stupid. Take the Pay, get experience of working on your social and ethic skills. We have enough grime balls and analysts who piss their pants whenever a stranger talks to them.

Volunteering is a different story, you are doing that to better your community, So don't even bring that up.

Agree with me or not. I don't give a flying F... I don't call them as I see them, I call them as they are.

Always go for the $$$$$$$$ $$$$$$

Eventus stultorum magister.
 
Best Response

Johnny Ringo: While I do agree that it is absolutely ridiculous for anyone to receive no pay for the simple "privilege" to work at a firm, I believe USCStudent brings up a very valid point. Keeping a long term mindset a Sophomore undergraduate student is focused on developing valuable skills to allow him to get a well paying job that compensates him for the value he brings to the firm. He is simply using this job as a stepping stone towards one that would end up paying more.

To sum it up with an extreme case: You are a sophomore looking for summer employment. You have two options, 1.) Investment Banking Intern at a local boutique (unpaid) 2.) Apprentice to the custodial master at a BB (Pays $7.38/hr) By your logic option 2 would be the choice hands down. However if the individual has the long term goal of breaking and succeeding in banking the first option is clearly more logical. Yes, this is highly dependent on external funding to support your livelihood. However a part-time job could generate enough income depending on where you live and how frugal you are.

Working for free is stupid, but many things in life are. You have to make the most of what options you have based on your goals.

 
Determined:
Johnny Ringo: While I do agree that it is absolutely ridiculous for anyone to receive no pay for the simple "privilege" to work at a firm, I believe USCStudent brings up a very valid point. Keeping a long term mindset a Sophomore undergraduate student is focused on developing valuable skills to allow him to get a well paying job that compensates him for the value he brings to the firm. He is simply using this job as a stepping stone towards one that would end up paying more.

To sum it up with an extreme case: You are a sophomore looking for summer employment. You have two options, 1.) Investment Banking Intern at a local boutique (unpaid) 2.) Apprentice to the custodial master at a BB (Pays $7.38/hr) By your logic option 2 would be the choice hands down. However if the individual has the long term goal of breaking and succeeding in banking the first option is clearly more logical. Yes, this is highly dependent on external funding to support your livelihood. However a part-time job could generate enough income depending on where you live and how frugal you are.

Working for free is stupid, but many things in life are. You have to make the most of what options you have based on your goals.

+1

if you really care about the money, go work at McDonalds or Innout, work analyst hours (80-100/week) make $1,000/week in the summer, work for 11-13weeks and get $13K.

as the geniuses here said "ALWAYS GO FOR THE $$$"

I hope people that think going for the $$ is the right way to go, actually go that way....less competition for me :)

OP, look at experience opportunities at this age/exposure to S&T rather than receiving some $ as a sophomore.

 

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