Pros of Unpaid Internships
Experience. An unpaid internship may allow you to obtain on-the-job experience at a company or in an industry in which you are considering a career.
Resume building. Unpaid internships can strengthen your resume and to put you on an equal footing with the other recently graduated job seekers who have internships on their resumes.
Networking. Unpaid internships can be a great way to make valuable contacts in your chosen field and to create networking opportunities that could pay off when you are ready to search for a paying job.
Work Ethic. Potential employers may view unpaid internships on your resume as indicators of your strong work ethic and dedication to your career.
Training. By law, employers are required to provide unpaid interns training that is comparable to what they would get in a vocational school or an academic institution, so they can be valuable opportunities to learn new skills.
Research Company/Industry/Position. An unpaid internship can help you determine whether a company, job or industry is right for you. As a result, it can save time and energy by eliminating some options so that, when you begin your job search, you can focus your attention only on those positions best suited for you.
Cons of Unpaid Internships
No Pay. Unless you can afford to work without pay, an unpaid internship may not be practical for you. One way around this drawback is to look for part-time unpaid positions that will allow you to take part-time paid work as well or to seek out paid internships.
Lost Opportunities. There are opportunity costs to an unpaid internship, especially if you a taking on debt to fund your education. The wages you forego by working free could help you to reduce your debt burden when you graduate.
Training May Be Limited. Although employers are supposed to provide unpaid interns with training, rather than using them in lieu of paid employees, not all of them take this requirement seriously.
Not Real-World Job Experience. An unpaid internship may provide some insight into what a paid job would be like, but your interactions with other employees and superiors are unlikely to duplicate that experience. In fact, an unpaid internship even could result in a mistaken impression of the work environment, since an employer's expectations are very different for an unpaid intern than for a paid employee.
If, after considering the pros and cons of unpaid internships, you decide to pursue one of these opportunities, get the most out of it by following these tips.
First, focus on jobs in the industry in which you would like to work after graduation and on positions that emphasize training and skill building.
Second, ask other students who have taken unpaid internships in the past for advice about how to find and select the most productive opportunities. Even better, try to find others who have worked as unpaid interns at the firms where you plan to interview, and ask for their feedback about the experience.
Third, be realistic about what you will be doing on an unpaid internship (less than stimulating activities like filing could be among your responsibilities).
And, fourth, be sure to ask for a favorable letter of recommendation before you leave.
Sources:
Anya Kamenetz, www.nytimes.com, Take This Internship and Shove It - New York Times
Sgrady, blog.onewire.com, onewire.com press/Should You Take an Unpaid Internship?
internqueen.wordpress.com, Students Should Take Unpaid Internships
Drew Kann, www.ajc.com, Not all college students can afford to take on unpaid internships/ajc.com
Published by S. H. Wallick - Featured Contributor in Business & Finance
S. Wallick is an equity research specialist with more than 25 years of experience as a senior equity research analyst at leading investment banking and independent research firms. She currently is President... View profile
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