Insight on interns?

searcher profile

March 27, 2019

by a searcher from Columbia University - Columbia Business School in White Plains, NY, USA

Hi, does anyone utilize interns? If so, how do you manage them?
On-site vs, remote
Stipend
Hours and days
Sector focus vs area focus
Phone systems
Finder fee

Any and all insight would be valuable. 

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commentor profile
Reply by an admin
from Stanford University in Honolulu, HI, USA
I am very interested to hear from others on their insights about interns. In the meantime, here are some interviews that you may find useful:
* 15 interns: ^redacted‌, How Sticking to One's Search Instincts Can Reap Rewards: https://www.searchfunder.com/article/viewarticle/835
* 3 interns: ^redacted‌, Putting in the Time & Effort Before the Deal: https://www.searchfunder.com/article/viewarticle/1081
* Search without interns: ^redacted‌, Gaining Traction as a Self-Funded Searcher: https://www.searchfunder.com/article/viewarticle/2836
* Part-time vs. full time interns: ^redacted‌, Switching from Searcher to CEO May Require a New Mindset: https://www.searchfunder.com/article/viewarticle/2534
* Partner vs. interns, ^redacted‌, A Marathon, Not A Sprint: https://www.searchfunder.com/article/viewarticle/987
commentor profile
Reply by an intermediary
from University of California, Berkeley in Catskill, NY 12414, USA
We don't currently have any interns, but I have worked with some fantastic, smart, capable young people in several of my businesses over the years. The arrangements varied, but I always began the relationships in person to get acquainted, orient them to the company and the work, and to develop rapport, after which most work was done remotely with regular communication. In one case our intern drove an hour from his college to a weekly after-hours meeting with us. We were paying $20/hour, and for the weekly meeting we bought him a tank of gas and took his pizza order. Two of my interns worked for no pay, but for full college credit.

In the past decade (especially during the recession) there were lots of horror stories about companies abusing interns, who are often hungry, if not desperate for ways to build their resumes. COmpanies were requiring long hours, poor conditions, and no respect. The important thing is for the relationship to be mutually beneficial . Our interns contributed significant energy and real work. You may find that young people take certain technology skills for granted that older staff members struggle with. To hold up our end of the bargain we paid fairly and took the time to provide solid mentoring and thoughtful written feedback at the end of the semester. Our interns did A-level work and deserved to get A-level credit at school for their time with us, so we were careful to document their semester's work. It's also important to respect the relationship with the university's career placement people; they provide a valuable service and you have to play by their rules.

If you interview and choose an intern carefully, and support them as you would any new hire, you can benefit from good work at low cost, and help a young person along their path.
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