We have all been told countless number of times that you need experience for any type of job you apply to. If you don't have experience, then it is just going to be harder to get your foot on the job ladder.
Within certain industries such as finance or banking there has been an evident culture in the past years whereby its not 'what you know' but 'who you 'know' and this culture has enabled many students to explore opportunities in fields which undoubtedly they wouldn't have dreamed of getting into without the connections they have made. More recently it has been noted that of all parties 'The Conservatives' who are proposing this ban with the liberal democrats, have auctioned off internship opportunities to raise party funding with many Internships in specific sectors such as Finance going for as much as £3,000.
From a organisation point of you the 'who you know' culture is evident whereby, its easier for a CEO or Managing Director to employ someone who they believe that can do the job, or as a matter of fact, help friend out to provide their daughter / son with experience. It takes much longer for a CEO to interview potential candidates for possible Internships and more importantly advertising on recruitment sites is expensive.
Its good what the government have said about proposing a 'blanket ban' on the 'who you know' culture but in hindsight it is difficult for a complete blanket ban as many people know a lot of people and it is difficult for people to stop growing their connections or invade on their privacy.
You can see the full interview on the BBC News Website below.
It turns out that Nick Clegg got his first internship through internal networks
