6 ms·

In addition, an unpaid internship only attracts students who do not know their own value. The really good ones know they can find a place willing to pay at leas

by avehn 16y ago

In addition, an unpaid internship only attracts students who do not know their own value. The really good ones know they can find a place willing to pay at least some of what they are worth.

billybob 16y ago
This may vary with the field. I think it's true of say, web development, because the student could definitely work freelance and get both experience and money. But it might not be true of journalism, or law, etc. Although it's definitely true that by offering money and/or other perks, the company would get better candidates. Think about how easily Google can choose the best engineers, based on their reputation as an awesome place to work. Now think how much lower a college student's standards are for what's awesome - they've probably never made real money. "They buy you lunch every day" would count as awesome, and doesn't cost much. "They review your work with you every week and help you improve, then write you a good recommendation" would be even better for highly-motivated students. If a company became known as the coolest place for students to work, they'd be able to pick the best students for their internships, and those students would be more likely to come back to work there, or recommend good people to work there, after they graduate.
kiuygtfdghjn 16y ago
No they attract only students who DO know their worth. $BIG_WALLst_COMPANY will only employ people who have done an internship on Wall St. This means that all Wall st $BIG_COMPANIES can offer unpaid internships because they have a $$$ value to you. And compared to the $$ cost of going to Harvard/Yale (the only other requirement for Wall St) it doesn't really matter. If a student thinks that the $1000/month they could be earning in a paid internship doing web design in Idaho has more value they are probably wasting their tuition anyway.
- alexgartrell 16y ago
  students who go to Microsoft or Google can expect to make about $5,000 a month. A friend of mine god an offer from a financial who was trying to give him $6,000 a month. I'll also add that my cousin is a global controller for a relatively small (I guess?) hedge fund on Wall Street and he cut his teeth working a job during college. Also, he went to Ohio State. In Computer Science, at least, you will not be taken seriously unless they are paying you (by them or any other company). And again, going beyond that, my friends who are working on Wall St. (CMU kids) are being paid. Unpaid (and poorly paid) internships are for suckers.
  - hga 16y ago
    "In Computer Science, at least, you will not be taken seriously unless they are paying you" Indeed. I very recently checked with my friend who runs MIT's EECS undergraduate program and she said that all their internships are paid.
  - kiuygtfdghjn 16y ago
    >my friends who are working on Wall St. (CMU kids) are being paid. They are working as programmers/quants? The ones who are going to be partners aren't being paid.
- francoisdevlin 16y ago
  Yeah, because God forbid anyone in this country from actually producing something... Damn system.

by avehn 16y ago

In addition, an unpaid internship only attracts students who do not know their own value. The really good ones know they can find a place willing to pay at least some of what they are worth.

billybob 16y ago

This may vary with the field. I think it's true of say, web development, because the student could definitely work freelance and get both experience and money. But it might not be true of journalism, or law, etc. Although it's definitely true that by offering money and/or other perks, the company would get better candidates. Think about how easily Google can choose the best engineers, based on their reputation as an awesome place to work. Now think how much lower a college student's standards are for what's awesome - they've probably never made real money. "They buy you lunch every day" would count as awesome, and doesn't cost much. "They review your work with you every week and help you improve, then write you a good recommendation" would be even better for highly-motivated students. If a company became known as the coolest place for students to work, they'd be able to pick the best students for their internships, and those students would be more likely to come back to work there, or recommend good people to work there, after they graduate.

kiuygtfdghjn 16y ago

No they attract only students who DO know their worth. $BIG_WALLst_COMPANY will only employ people who have done an internship on Wall St. This means that all Wall st $BIG_COMPANIES can offer unpaid internships because they have a $$$ value to you. And compared to the $$ cost of going to Harvard/Yale (the only other requirement for Wall St) it doesn't really matter. If a student thinks that the $1000/month they could be earning in a paid internship doing web design in Idaho has more value they are probably wasting their tuition anyway.

alexgartrell 16y ago
students who go to Microsoft or Google can expect to make about $5,000 a month. A friend of mine god an offer from a financial who was trying to give him $6,000 a month. I'll also add that my cousin is a global controller for a relatively small (I guess?) hedge fund on Wall Street and he cut his teeth working a job during college. Also, he went to Ohio State. In Computer Science, at least, you will not be taken seriously unless they are paying you (by them or any other company). And again, going beyond that, my friends who are working on Wall St. (CMU kids) are being paid. Unpaid (and poorly paid) internships are for suckers.
- hga 16y ago
  "In Computer Science, at least, you will not be taken seriously unless they are paying you" Indeed. I very recently checked with my friend who runs MIT's EECS undergraduate program and she said that all their internships are paid.
- kiuygtfdghjn 16y ago
  >my friends who are working on Wall St. (CMU kids) are being paid. They are working as programmers/quants? The ones who are going to be partners aren't being paid.
francoisdevlin 16y ago
Yeah, because God forbid anyone in this country from actually producing something... Damn system.