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01-13-2008, 04:02 PM
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#31 | | Senior Member
Join Date: Aug 2004
Threads: 57
Posts: 1,696
| I'm seeing a lot of people equating internships for working "for free"... most internships are paid nowadays, and considerably better than part time jobs...ESPECIALLY in finance and engineering. If you get a half way decent internship you will clear well over 15k for the summer, which is considerably better than the $8 an hour you'd be making at the GAP. | 
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01-13-2008, 04:09 PM
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#32 | | Junior Member
Join Date: Jan 2007
Threads: 3
Posts: 63
| haha 15k for an engineering job in the summer??
what meds are you on? | |
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01-13-2008, 09:18 PM
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#33 | | Senior Member
Join Date: Aug 2004
Threads: 7
Posts: 1,102
| Well it's not exactly engineering (rather technology, computer science which is close?) but my son got close to $15,000 for a summer internship and this was 3 years ago; plus a housing allotment of I think $1,000 (might be more, can't remember) so I think mattistotle is right. | |
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01-13-2008, 10:12 PM
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#34 | | Member
Join Date: May 2005
Threads: 7
Posts: 307
| that is in line with what we are paying our engineering interns in the energy business in houston this year. | |
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01-13-2008, 10:17 PM
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#35 | | Junior Member
Join Date: Jun 2006
Threads: 10
Posts: 45
| wow......
internships. | |
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01-14-2008, 01:30 AM
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#36 | | Senior Member
Join Date: Aug 2007 Location: UCLA
Threads: 50
Posts: 2,079
| Ah yes sorry about that! I didn't realize that you had posted TheOnion.  Quote: |
There's such a thing as healthy competition. But this bubble in time in which kids burn themselves out in high school to get into a "name" college and then burn themselves out in college to get the "name" internship and then the "name" job does not seem healthy to me. It all presumes a level of maturity, ambition and drive that I'm not sure should be expected of kids (especially boys, many of whom seem to mature a bit more slowly).
| Here's a more extreme example:Alexandra Robbins (Author of The Overachievers Quote: |
I've heard hundreds of similar stories from former overachievers. All of us eventually came to understand that there is an enormous difference between résumé and identity. We learned what would behoove many of today's top students--and their parents--to embrace: that achievement does not lead to fulfillment; it turns out to be the other way around.
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01-14-2008, 03:26 AM
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#37 | | Senior Member
Join Date: Jun 2006 Location: SoCal.
Threads: 5
Posts: 1,977
| Quote: |
I'm seeing a lot of people equating internships for working "for free"... most internships are paid nowadays, and considerably better than part time jobs...ESPECIALLY in finance and engineering. If you get a half way decent internship you will clear well over 15k for the summer, which is considerably better than the $8 an hour you'd be making at the GAP.
| Finance & Engineering are much different from most types of college majors/professions. | |
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01-15-2008, 01:56 AM
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#38 | | Junior Member
Join Date: Nov 2007
Threads: 22
Posts: 100
| Am I the only one here that dislikes the "networking" obsession? It seems like passive acceptance of nepotism and contrary to meritocracy. | |
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01-15-2008, 06:59 AM
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#39 | | Senior Member
Join Date: Aug 2004 Location: New York City
Threads: 1
Posts: 1,487
| A pure meritocracy would work if you frequently have one clear-cut best candidate for the position, but that is not the case. Especially for entry-level positions, you're likely going to get many people who are all equally qualified, so who are you going to hire? Someone that you know only on paper and a few interviews? Or somebody who your colleague personally knows (whether its through a friendship, school, previous job) and would vouch for? With the former, you don't know for sure what kind of an employee you're getting, but that's not so much the case with the latter.
At one company I used to work for, many of the interns got their jobs because they knew a current intern. The project manager and the VP had actually asked me specifically to recruit new people a few times. You can draw a tree diagram and see how they all led back to one person (who actually stopped working there years ago). There are only a handful who got offers by just sending in a resume, but many of them did not work out. At least within this company, experience has shown that the best employees were the ones who a current or former intern vouched for. | 
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01-15-2008, 11:52 AM
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#40 | | Senior Member
Join Date: Dec 2004 Location: Oregon / Providence
Threads: 55
Posts: 1,948
| 15k?!?!?!?!!
Crack. you're on crack.
And considering everyone is in finance or engineering anyways... | |
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01-15-2008, 08:49 PM
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#41 | | Member
Join Date: May 2006
Threads: 7
Posts: 364
| What I want to know is whether companies consider summer study abroad programs to be positive features on applications or if internships are the only thing that matters. Of course it's necessary to have some experience working or interning, but is another job/internship necessarily better than study abroad when it comes to evaluating applications? | |
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01-15-2008, 08:50 PM
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#42 | | Junior Member
Join Date: Jul 2006 Gender: Male
Threads: 8
Posts: 179
| I haven't seen $15,000 for 3 months of work anywhere... the most I've seen is about $9,000. | |
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01-15-2008, 10:28 PM
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#43 | | Senior Member
Join Date: Nov 2005 Location: Santa Cruz, CA
Threads: 51
Posts: 3,642
| Well, my son has lined up a job at $14,000 for 16 weeks of work--his school lets out in early May and starts again in the third week of August--which should net him around $11,000 or so.
Of course, that's here in the Silicon Valley--where housing costs are horrendous--and he gets no housing allowance; but then he doesn't need it since I'll let him live here at home for free. I guess his major costs will be just his gasoline and clothes.
I have no idea if this is a standard rate of pay out here for internships, but my guess is that it is not. Still it does show that $15,000 during the summer is possible--especially for an engineering major (my son's a business major). And 2331clk's post above also confirms that engineers can make $15,000 in one summer.
Last edited by Calcruzer : 01-15-2008 at 10:37 PM.
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01-16-2008, 09:00 AM
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#44 | | Senior Member
Join Date: Dec 2004 Location: Oregon / Providence
Threads: 55
Posts: 1,948
| available but wicked rare. wicked. so rare as to, imho, be of no bearing to this discussion where most people are working for 3k internships if they are lucky. | |
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01-16-2008, 10:08 PM
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#45 | | Senior Member
Join Date: Aug 2004
Threads: 7
Posts: 1,102
| Just to clarify, mattistotle mentioned finance or engineering, my son's internship was systems job as a CS major summer before senior year which I think is similar. My point is it wasn't i-banking internship although he interned for an i-bank.
The way the employer works it...say they hire first year analyst out of college at $70,000 starting salary. They'll prorate summer internship wages based on that salary even though you're still in college. $70K per year is $1346 per week...a ten week internship earns you $13,460 for example. Twelve weeks=$16,153.
I didn't think these internships are so rare, maybe because many of son's friends had ones like his. Internship was in Manhattan where costs are high, like Silicon Valley, so his employer offered the housing allowance which helped a bit. Even with NYC prices he had lots of spending $ left over for senior year.
It's also my understanding they go to the internship people for full time hire, that was the case with son (he works for this i-bank). It's no secret the internship is a 3 month interview opportunity for both sides, they make that clear. | |
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