Finding an internship has become like searching for a pot of gold at the end of a rainbow. With companies cutting costs, internship positions are the first to go. Many large financial firms that used to take several students only have room for one or two this year. In fact, some companies have had to call students and cancel second round interviews due to budget constraints.

Also, there are more students in college now than ever before. This means that supply has skyrocketed while demand has dwindled. Not good for us.

Getting an internship or even a job is no longer just ablity-based, it also depends on luck, and unfortunately, there seems to be very little to go around. Applications to graduate schools have increased by about 25 percent because students fear coming out of undergrad jobless

I have personally struggled to find a summer position that will leave my dignity attached. I have even begun sending my resume to companies that are unrelated to my major.

Going in to the process, I turned up my nose at unpaid internships. I only accepted interviews from high-paying, big-name firms, but with four interviews down and three more to go before spring break, my hope is wearing thin.

Now, I’ve become desperate. When interviewed I often wonder if I should throw out an offer at my possible employer. Maybe if I paid them $8 an hour they’d waiver.

As if finding a job isn’t hard enough, the interviews are a nightmare within themselves. From case interviews to technical questions, I find myself explaining to the interviewer why ten year treasury rates are at an all-time low. If I am not telling the company’s director of recruitment about my greatest weaknesses, then I am walking them through the steps I’d take to ensure success to a fictitious client’s portfolio.

I usually leave my interview with clammy hands and furrowed brows wondering when I will get a job. The worst thing about this terrible cycle is the paradox it creates. In order to get a job you need experience; to get experience you need a job. At what point does an underclassman become competitive enough to catch an interviewer’s eye?

As my interviewer grips the crème corners of my resume, I sometimes wonder if his job is up for grabs. I think I could handle interviewing a couple college kids who would love nothing more than to be enslaved by Fortune 500 company. Well, at the rate our economy is going we might need to change that to Fortune 25.

More and more students are turning to summer school or study abroad to avoid the daunting task of finding a credible internship. Stress is also high for the people that do get hired, because a company firm could find itself shutting its doors at any day, especially to interns who rarely do more than shadow.

A lot of students have already given up on prestige and have begun looking for summer plans that will just earn them some extra cash. Whether its camp counseling or flipping burgers, there will always be a demand for an unskilled labor force.

Peter Goldschmidt is a sophomore financial consulting major. He can be reached for comment at [email protected]