The Tuck School of Business at Dartmouth College hopes to give its first-year students an advantage by offering private equity firms that hire them for the summer an added bonus in the form of a salary subsidy, the Wall Street Journal reports. With private equity firms focused on trimming expenses, and in some cases personnel, finding a summer internship in this economy can be tough going.
This special program will pay up to half of a student intern’s salary if a private equity firm or portfolio company takes them on as a summer associate, according to Colin Blaydon, who mentioned the program at a recent event sponsored by the Association for Corporate Growth’s Boston chapter, WSJ reveals.
Jonathan Masland, co-director of Tuck’s career placement office, said that the program, which is supported through a partnership between the Center for Private Equity and Entrepreneurship and the Career Placement Office, could finance up to $5,000 per internship. So far, it’s designed as a one-off program aimed at students seeking internships this summer.
“The main purpose is to give Tuck students an extra arrow in their quiver,” Masland told WSJ. Applicants looking at Tuck for next year will certainly appreciate the school’s strong show of support for students in these trying times.
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