Our latest post is coming from one of the many graduates out there seeking work. As times have become tougher it seems that little to unpaid internships are raising there heads more and more across a range of industries. Have a look and see what this reader has to say about them.
My problem will probably end in more of a venting session as I doubt anything will ever be done about this. I want to bring up the issue that’s happening in the financial sector at present, were recent graduates are being taken advantage of by large companies.
My background is that I have a degree and two masters.
Back in May I was offered a 3 month internship with a large financial institution that specialises in the area of retail banking. They said that I will be given a payment of €3,000 at the end of my three months and that there will be a strong chance of a position being offered at the end paying a salary of €20,000 a year. I was a bit hesitant but fortunately enough I am in a comfortable position in terms of finances that I was able to take on something like this for this money, as this was an area where I wish to build a career in. However at the end of my gruelling 3 months I am told that they will only pay me a third of what was initially offered and that they may pay me an extra €1,000 and they might offer me a position if I were to complete another project for them.
As you can imagine I refused and am going down the route to get the full amount that’s owed to me. My issue here is that three months of my life are gone now with absolutely nothing gained other than this “experience” that these big companies are selling internships on. I am all for companies make their money, but paying graduates less than minimum wage and getting away with it is a joke. I have learned a hard lesson from this but I know that there are many people out there taking on these internships as we speak and in my opinion are being taking advantage of paying these low wages. I know a chance of there being a solution to this is slim but ether way I think it is something that should be discussed.
What are your thoughts?
- Are large companies taking advantage of these young graduates?
- Do you feel that large companies could benefit more if they paid their graduates a higher wage?
- Is it just something that graduates have to go through to make it somewhere?
- Any advice for paths or options these graduates can take?
- What should a graduate today be paid in your country?