Advice from Nashville's Financial Guru Dave Ramsey

Dave Says
By Dave Ramsey
Author of Financial Peace and The Total Money Makeover
6/10/2004

Is interning for free a turnoff to companies?

Dear Dave,

I am a mechanical engineering student at the University of Arkansas and I am very interested in business. I am particularly interested in working with start-up companies. This fall I am trying to find an internship with a start up company in the area. I am willing to work for free, I have an excellent grade point average and an excellent recommendation from past internships as well. Unfortunately I can’t seem to generate any interest. I was wondering if volunteering to work for free for some of these companies is possibly a turn-off. What is your opinion on this? 

Brad
Little Rock, Ar.

Dear Brad,

I think it all depends on what kind of a start-up company you are going into. If you are looking at going into some sort of a start-up that is going public, and is really not an entrepreneurial-type company, but more of a public-stock-minded leadership team, then yes, you may run into that corporate mentality. I have had folks in the past, when we were starting this company who loved what we did and realized we were helping people and they wanted to be a part of it. So they offered to work for free. They worked for free until they could figure out a way to make more money come in than it would cost for me to pay them. They cost justified themselves. That didn’t happen very often, but it did happen. It wasn’t a turn off at all to me. It showed ingenuity and initiative, so I think it is a fabulous idea. You just haven’t found the right personality yet. 

One thing I will tell you to do is to do a little research on the firm you are applying  to. Also find out about the individuals you are going to talk to. This way you can speak their language. You can also find out if you really want to spend some of your life working for this company. Tell them you are not looking for a job, you are looking for an opportunity. Tell them that you plan on finding a way within a short period of time to make them more money than it would cost them to hire you. Use that kind of language instead of saying, “I just want to work for free.” Let them know you have a reason. You are on a mission. You want to be a part of their organization because their organization does this and this that I want to be a part of. And I want to find a way to bring value to them where they can’t afford to get rid of you. 

That kind of language,  will always get the ear of an entrepreneur. 

Dave

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