<p>I cold-emailed a couple of boutiques back in June, and I got an offer to join one smaller boutique bank. Tuesday was my first day, but the thing is, the Managing Partner says that compensation isn't guaranteed, and if I will be compensated, it will for no more than $500 for the rest of the summer (up until late August).</p>
<p>I've been working about 12-15 hours per day, and although I'd still do the internship unpaid, I'd really like it to be paid, whether it be salary-wise or hourly-wise.</p>
<p>To give you a background, all I've really been doing is setting up models (crunching numbers, no analysis), researching companies, and going to client meetings.</p>
<p>How should I ask for compensation, given that he seems to be intent on the "maybe 500, maybe nothing" deal? I was thinking of telling him about how I'm a college student and money is hard to come by (which it is).</p>
<p>We have a couple of other interns, and they're getting paid, albeit they've been there the whole summer and are rising seniors. I'm a rising junior.</p>