If you’re a college student who was planning to intern with Lehamn Brothers, Merrill Lynch, A.I.G., or any of the other related companies in this financial crisis, you may very well find that your internship no longer exists.  In the case of Lehman, this is all but certain.  So you went from a Have to a Have Not- how do you become a Have again?

The worst idea is to sit on your duff for the semester and think “I’ll get some experience next semester.”  Boo!  When the going gets tough, the tough gets going, dangit!  Starting your internship search over again may seem unlikely at this point, but it can be done.  Here are some tips to kick-start your search engine, so to speak (please pardon this pun and any future puns that I may make.  I enjoy a good pun.)

1. Think outside of Wall Street. You’ve got a slim to none chance of finding an internship at a major investment bank this semester, and possibly next (the only 2 major investment banks still left in the U.S. are Goldman Sachs and Morgan Stanley).  Try the flip-side of corporate- go nonprofit.  Nonprofit organizations that deal with finance (loans, financial advice for low income folks, etc…) are always looking for interns and volunteers (neither are usually paid, so prepare yourself).
2. Think small company. Small banks (investment and otherwise) have avoided the “carnage” this week (seriously, people are calling this carnage, ick) and are small enough that you can usually find a human being to speak with about an internship.  I would recommend calling, explaining your situation, and asking if they have anything available for this semester.  Try local banks, credit unions, insurance companies, etc…  It may not carry the prestige that Lehman Brothers would have, but prestige be damned- Look at where it got them!  Experience on your resume is better than               nothing on your resume.
3. Think INSIDE other industries. What do healthcare, tourism, retail, manufacturing, information technology, advertising, education, and pharmaceuticals all have in common?  They all deal with money at some point!  Every type of company in every industry has a person or department in charge of their finances and accounting.  Try looking at the finance or accounting departments WITHIN companies who primarily do something else.  You’ll be surprised what you find.

http://job.ologynation.com/2008/09/16/no-more-lehman-no-more-internship/#more-27