<p>Everyone should read today's article on Slate.com, "Opportunity for Sale". Time to start saving up to buy your college kid an internship--and you thought it was just about room, board and tuition!</p>
<p>This is nothing new. Internships have been an auction item on the charity circuit for years.</p>
<p>I went over and read the article. Their numbers are way off of what I've seen. I recently saw a Google internship bid up to $50K! And I'm laughing at the thought that they've shamed schools out of doing this. The internships and shadow opportunities are, hands down, the biggest money makers at private school auctions.</p>
<p>My D has an internship she got by sending out resumes and interviewing. Why would you have to pay 50K for one? That's just a NYC "oneupsmanship" sort of thing, like paying $1400 for a wastepaper basket. I can see paying $5,000-$6,000 for one of the programs that includes housing and social activities, if the internship is in a far away city.</p>
<p>Not saying it's fair, but it's a way folks donate to their kid's schools or favorite charities. Both by donating the internship and by buying it. They buyers are going to give the money anyway and are happy to get a little something out of the gift. The donors get to give the charity something of value that doesn't cost them anything.</p>
<p>It's worse than unfair. It's a perversion of the entire internship concept. Unfortunately a good internship has become a "must" on a graduating senior's resume, and they are required for some majors. A juicy internship is thought to reflect on the abilities and talents of the student who secured it. But how can they mean anything at all if they are just something rich mommies and daddies buy for their little darlings? And if companies channel their best internships into charitable auctions, what's left for the student who can't afford to bid?</p>
<p>It's just an extension of the nepotism that has been the way wealthy kids have gotten internships and jobs forever if you think about it. And the legacy that got them into top colleges to get the top internships and jobs.....</p>
<p>Wow! D1 is in an internship right now at an awesome company, and we didn't have to pay a cent for her to get it. It did help that she already knew someone there, but it was a fellow sorority sister from her college... not someone high up in management.</p>
<p>D e-mailed like crazy to the profs at the local U during her winter break. Fingers crossed, she has something (I guess unpaid, but very relevant to her future field) lined up. I give a lot of credit to her big sis for setting a positive example for her and encouraging her to keep e-mailing. Now she has to find a J.O.B.</p>
<p>I just heard the talking heads on CNBC sqabbling over this. One thoght the idea was outrageous, the other had no problem with it. I personally think it is very unfair. We are turning into a society of "have-alls" and "have-nothings" where not even your smarts and qualifications matter if you have no $$.</p>
<p>As someone who works in an industry with a lot of interns and where internships are pretty much essential for getting a full time job, I do think smarts and qualifications matter. While there is certainly lots of nepotism and connections being used, the smart kids win long term. It's gotten better over the years, when I was hired I often felt like the only one not the son or daughter of a client and wondered what my long term prospects were. I'm still standing, most I started with are not.</p>
<p>DS had an internship in Silicon Valley this summer, Three of his fellow interns referred to the company's founder as 'uncle.' He was invited back, two of them were not.</p>
<p>hmom5-</p>
<p>I agree. The slate article does seem to point what I consider to be a far end of the spectrum. But it remains a fact of life that internships are a key differentiator for students as they look forward to their future careers and employers. The argument seems to be how you get them. </p>
<p>I posted in another thread about this. You can seriously make the same argument for the parents that ante up for the expensive private colleges. But seriously, its the reality of the market. My parents paid for me to go to a top tier private institution and I know it was difficult financially for them. I will be forever grateful. Do they regret it? I know for a fact they don't. They are proud of what I was able to achieve in college and what I've done since. </p>
<p>Its hard to argue what a HYPS education is worth a year. Its even more difficult to argue what an internship is worth. Overall, I disagree with Tim Noah's conclusion about paying for internships. We said the samething about healthcare the last time I checked....</p>