Search Fund Accelerator penalized for failing to pay interns

searcher profile

May 25, 2018

by a searcher from University of California, Los Angeles - UCLA Anderson School of Management in Honolulu, HI, USA

I have seen posts previously asking about using unpaid interns. This recent article may give you pause.

Search Fund Accelerator pays $550K to end probe by Massachusetts Attorney General into its heavy use of unpaid interns

https://www.bizjournals.com/boston/news/2018/05/24/boston-private-equity-firm-penalized-for-failing.html

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commentor profile
Reply by an intermediary
from Dartmouth College in Solebury, PA 18938, USA
There's also nothing wrong with thinking about the best way to hire and treat people, above what the law requires. I've always taking hiring interns very seriously, and have been sure they get the most out of their experience. I'm proud to say they've go on to great things, including being CEO's of their own public companies. So yes, worry about the law, but more importantly, worry about doing the right thing when it comes to treating people well.
commentor profile
Reply by an intermediary
from Dartmouth College in Solebury, PA 18938, USA
Disgusting not to pay interns. I've had close to 100 interns over the past 20 years. I paid all of them at least minimum wage, and usually more. I had interns last year who couldn't believe their luck finding an investment bank who would hire Freshman and Sophomores. When I told them they were also getting paid, they literally couldn't contain their giggles. (They all went on this summer to big name bulge bracket banks, natch.)
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