An Adaptable Dialogue
A: So is this internship paid.
B: No this is an unpaid internship.
A: So the work I'd be doing is of no value to you?
B: No we'd be offering you real industry experience at one of the world's leading firms.
A: So I'd be doing real work but not getting paid?
B: Many of our interns go on to secure full time positions at the firm. The firm takes a risk on each new hire, so we want to thoroughly vet our applicants and one of the best ways to rise to the top of the candidate pile is through our internship program.
A: Isn't return proportional to risk? If you are reducing the risk through the intern program you also presumably reduce the return.
B: We increase the return by choosing proven candidates.
A: Unless the best candidates refuse to work for free, and would rather take their chances through other channels. The risk takers so to speak.
B: We have no evidence of that, all our new recruits are proven high performers.
A: Can't you get that from the academic transcripts you request with the application?
B: You can tell a lot from an academic transcript, but there's a gap between academic performance and real world performance.
A: So you don't trust the credentials we are supposed to strive to obtain.
B: They are necessary but not sufficient.
A: Because you can't conclude anything from the transcript?
B: We can draw certain conclusions, but we want to see how somebody copes with the real work.
A: The unpaid real work? You want to hire a bunch of employees that have demonstrated an ability to work hard without any compensation?
B: They are compensated with experience and opportunity.
A: But that would still be true if they were paid. They would have the more valuable experience of being paid for work, and they would have increased opportunities regardless because they would have earnings to show for the time invested.
B: No this is an unpaid internship.
A: So the work I'd be doing is of no value to you?
B: No we'd be offering you real industry experience at one of the world's leading firms.
A: So I'd be doing real work but not getting paid?
B: Many of our interns go on to secure full time positions at the firm. The firm takes a risk on each new hire, so we want to thoroughly vet our applicants and one of the best ways to rise to the top of the candidate pile is through our internship program.
A: Isn't return proportional to risk? If you are reducing the risk through the intern program you also presumably reduce the return.
B: We increase the return by choosing proven candidates.
A: Unless the best candidates refuse to work for free, and would rather take their chances through other channels. The risk takers so to speak.
B: We have no evidence of that, all our new recruits are proven high performers.
A: Can't you get that from the academic transcripts you request with the application?
B: You can tell a lot from an academic transcript, but there's a gap between academic performance and real world performance.
A: So you don't trust the credentials we are supposed to strive to obtain.
B: They are necessary but not sufficient.
A: Because you can't conclude anything from the transcript?
B: We can draw certain conclusions, but we want to see how somebody copes with the real work.
A: The unpaid real work? You want to hire a bunch of employees that have demonstrated an ability to work hard without any compensation?
B: They are compensated with experience and opportunity.
A: But that would still be true if they were paid. They would have the more valuable experience of being paid for work, and they would have increased opportunities regardless because they would have earnings to show for the time invested.
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