Most definitely a surplus. Every now and then someone cold calls or cold emails me looking for an unpaid internship or consulting work but for some reason our partners don’t want to take up free labor.
thanks for the feedback. That’s definitely worrying. I was looking towards networking at certification sponsored events in the city as I’m now out of the university connection (once I’m ready) but as of right now that’s like staring directly into uncertainty.
“Free labor” isn’t really free. It still has to be tasked and managed, and it can be a pain in the butt to do all the administrative aspects of getting people access to data and network services. If there is a clear value proposition to using the free labor, as in there is a particular task that you need staff for, or there is a unique skill that you bring, then it makes sense. So the real trick is knowing what you bring to the table for them.
nocareer Wrote: ------------------------------------------------------- > Cold calling/resumes didn’t work well for you at > all for unpaid internships? No they didn’t. The emphasis is on “cold”. What I mean is you need a lead or someone to recommend you – such as a friend, family member, professional associate, or professor. I probably sent out 50 “cold” resumes to positions on career boards and did not receive one response. I asked my professor for a few leads, and for everyone of her referrals I was at least contacted and informed that they would review my application. You need a third, independent party to certify or validate your worth with the potential employer.
bchadwick Wrote: ------------------------------------------------------- > “Free labor” isn’t really free. It still has to be > tasked and managed, and it can be a pain in the > butt to do all the administrative aspects of > getting people access to data and network > services. If there is a clear value proposition > to using the free labor, as in there is a > particular task that you need staff for, or there > is a unique skill that you bring, then it makes > sense. So the real trick is knowing what you bring > to the table for them. Great post! You’re right on the mark.
A local MBA school asked me to take on an unpaid intern as some of thier MBA students had graduated but had not gotten a job. I talked it over with a collegue and decided it would cost me too much.
bchadwick Wrote: ------------------------------------------------------- > “Free labor” isn’t really free. It still has to be > tasked and managed, and it can be a pain in the > butt to do all the administrative aspects of > getting people access to data and network > services. True. Seat, computer, desk, telephone. bmwwiles Wrote: ------------------------------------------------------- > No they didn’t. The emphasis is on “cold”. What > I mean is you need a lead or someone to recommend > you – such as a friend, family member, > professional associate, or professor. I probably > sent out 50 “cold” resumes to positions on career > boards and did not receive one response. I asked > my professor for a few leads, and for everyone of > her referrals I was at least contacted and > informed that they would review my application. > You need a third, independent party to certify or > validate your worth with the potential employer. Thanks for your insight. I have a lot of hurdles to overcome as I don’t have a highly credible third party available right now, I was hoping to sell myself & my personal story to get good leads at networking events. It worked for me back then. But now that I’m out of school, they are few and far in between- the only sources that I’m aware of so far in the city are analystsociety/ CFA/certification affiliated groups.
If I get hired I could use another 4 of you. I’ve got work for 2 analyst level and 2 associate/VP/CFA Charterholder level people. Problem is getting anyone to pay attention when they’re overwhelmed with a thousand other applicants and resumes.
hedgefm, what’s your e-mail?
hedgefm@optonline.net For some of the others here I think it’s important to remember, even in good times the acceptance rate for a position in IBanking in BB firms was 0.5%, 1 in 200, and for top hedge and PE funds 0.2%, 1 in 500. I wouldn’t get discouraged if you don’t get a response to an application anytime soon.