There is little work. There are fewer vacancies available, and the pool of qualified candidates is huge. While graduate students struggle to cope with a tough economy, students are experiencing similar conditions in an increasingly tight internship and summer job market. What can Generation Y do in an environment where the fittest survive?
Summer can be a very important turning point in Generation Y’s professional development. For many college students, this three-month vacation represents a time when they can do nothing but lie on the beach and chase beautiful girls (or vice versa). But for those who are looking for a way to get ahead in the highly competitive job market they will soon enter, summer can also be a time to gain experience and make connections that will jump-start their career aspirations.
So what is the secret to Generation Y success? Many people think that this is an unpaid internship. It is imperative for Generation Y to stand out from the crowd of the unemployed, and unpaid internships can have a staggering effect on a resume.
I recently got the chance of a lifetime.
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Unpaid internships at start-up companies
I met Kent Heyman over lunch when I was 16, he was an aspiring entrepreneur and dreamed of one day starting a law firm. He was my quasi-mentor, whom I looked up to as a successful entrepreneur who had previously been recognized as one of the preeminent lawyers in California. After my second year at Clarkson University ended in May of this year, I contacted him by email and offered to work for free. It turned out to be the perfect timing.
Mr. Hayman was in the midst of launching Syncables, a company that allows users to easily sync, transfer, access and share content between Windows PCs, Macs, Linux and portable storage devices. Their desktop product syncs music, photos, videos, email, documents, and even browser bookmarks. I was tasked with creating a compelling PowerPoint presentation and company story for Syncables right in the middle of a product launch. The experience of working alongside the CEO of a start-up company was simply breathtaking! It was unforgettable and very motivating.
Many others are taking advantage of the incredible opportunity provided by unpaid internships. Kurt von Weisenstein is a finance student at Pace University in New York. After listening to John McGowan of startup Alternative Asset Investment Management (AAIM), LLC discussing the hedge fund industry at a Pace Investment Club meeting one evening, Kurt took the initiative to strike up a conversation about stocks and email his resume later that evening. .
AAIM is a company that connects individual investors with the perfect hedge funds in an effort to create the perfect match. Kurt was tasked on a weekly basis with the task of creating a newsletter and rundown of a specific hedge fund. He was able to do research with the very successful founders and managers of the company!
It was an experience that money can’t buy.
How to get an unpaid internship
Finding and participating in unpaid internships is one of Gen Y’s best secrets to success. But what’s the recipe for these amazing opportunities?
Contact a local entrepreneur or a mentor in your network and offer to work for free for her/him. Or: check out Quarter Life, where Lauren Berger, aptly known as the “Queen of Interns” offers incredible opportunities for those who want an incredible internship.
Already have a job or a full-time internship but are itching to get more experience? Call or email an entrepreneur or business leader and offer to work for free on weekends or a few hours a week. Be persistent!
Can’t skip tips
Need more? Check out what marketing guru Seth Godin has to say on how to get ahead in the game as an unemployed college student or recent graduate. Without a doubt: this is required reading for Generation Y.
Never forget to always have fun and follow your dreams. This summer! It’s time to lay on the beach, hang out with friends, and take another step towards fulfilling your dreams with Gen Y’s secret way to success: unpaid internships.
John Exley’s passions include entrepreneurship, fashion, technology and helping others achieve their dreams.
