New York, Mountbatten InProgramme - L...

New York, Mountbatten InProgramme - Living Costs in New York

There are 6052 comments on the Lonely Planet story from Dec 14, 2005, titled New York, Mountbatten InProgramme - Living Costs in New York. In it, Lonely Planet reports that:

Firstly has anyone been on the Mountbatten Internship programme to either New York or London? and can tell me how good it was? Was it worth the price? And does the Certificate in International Business Practice ...

Join the discussion below, or Read more at Lonely Planet.

Daniel

Bristol, UK

#3435 Nov 30, 2009
He's jumping a sinking ship by the sounds of it!
Mount B

Horsham, PA

#3436 Dec 1, 2009
Hey people - I really think you should ignore all the negative comments that people write on this site. As a current intern i think the program is very good and i know for a fact that I have learnt more in the last 9 months in ny then I would have in any grad scheme.

I just find it really annoying when people write negative things on here because mountbatten are a really well run organisation. I think it is a British mentallity to moan but even with prices rising I still think it is value for money and would definately pay it if i was in the situation of applying!!!
WhoWho

India

#3438 Dec 1, 2009
Man this is so unclear.... There are such extreme views about this program on this forum.... I guess its a purely sbjective matter now.... Pay and pray for luck....

Since: Oct 09

Chennai, India

#3439 Dec 2, 2009
I couldnt have agreed more with WhoWho. I am trying to get myself out there and be a part of the industry. You never know people you know might help you get the job of your dreams.
Sash

Bath, UK

#3440 Dec 2, 2009
All these comments put me off considering Ive got through to the next stage.

A year abroad, a post grad cert, meeting new people and working in a big company are all things which I think can enhance my life/career in the future.

Most people know if theyve done their research there are going to bad aspects but you don't apply if you don't want to do it. The money is clear what you get paid and if youve done some travelling you should know roughly how much it is going to cost (or use common sense).

i can't say about it yet as I haven't left for NYC. Luck of the draw really. Get some good mates out there, manage your money well and I think itll be ok. Theres going to bad bits and good bits.

Luckily I been offerred perhaps the chance to hold open my current job on return. Which means I can spend additional money if I need to and have the knowledge on return got a steady stream of dosh coming thorugh,. U shud no way go without savings.
Sash

Bath, UK

#3442 Dec 2, 2009
Way to go to to make people who might be heading off soon real annoyed 2004-2005 MB NYC intern!!

Thats what i am hoping to happen, new friends, finally move away from home.

I wouldn't be paying 6000, thats for sure. Its the limit as it is.
Daniel

Colchester, UK

#3443 Dec 2, 2009
2004-2005 MB NYC intern wrote:
Even when you complete your US tax return they insist you put in a salary which is far higher than what they actually give you.
WOW highly illegal. Im sure the IRS would love to know about this!!
Coffee

Newtonmore, UK

#3444 Dec 2, 2009
Omatix wrote:
So, for whom might the program be worthwhile? Anyone who wants to go into the industry they're placed in (often banking) and can't currently get a job in the UK. It's apparently great for your resume.
Omatix, thanks for making this point, despite your mixed feelings about the programme. Could you explain it a little bit more?

If you had wanted to use MB as a foothold to get into banking, do you think you would have found the internship more professionally useful and rewarding?

And out of your intake, about how many people do you think had 'analyst' level positions with the big banks (as opposed to admin/receptionist type roles)? Thanks a lot!

I really wish MB gave us more of this kind of information so we could make an informed decision as responsible adults, instead of just trying to lure interns with the carrot of NY and scare them with the stick of a difficult job market.
current intern

Stamford, CT

#3445 Dec 2, 2009
hi coffee

i am a current intern, working in a bank, as many of the past posts suggest a lot of the roles you get with MB are luck of the draw, some are literally mind numbing data entry even if you ask for more work you cant get it, some of the placements are great they treat you like a member of the team and reward your hard work by giving you more challenging work to do. A lot of the old septs that have left have managed to secure a great job back home with the bank that they were working out here with. The only advice i would give you is to really push the interviewer what your job is going to involve, dont ask MB to give you advice on the role as they will give you the usual bull that its a unique opportunity, try and push the interviewer to put you in contact with a current intern, as this is something i would be willing to do is talk to a potential intern and give them advice as coming here is a massive step.
Coffee

Newtonmore, UK

#3446 Dec 2, 2009
Current Intern, thank you very much!! That's really helpful practical advice, and reassuring to hear after the past couple of pages of negativity. Are you happy with the role you're in right now? Obviously I'm sure you don't want to get into specifics, but is it graduate-level, or data-entry kind of work as you mentioned?

Thanks again- I'll make sure I know what the job itself involves before accepting an offer. If you have a spare minute and can drop me an email, I'd be really interested to know if there are any banks on the scheme whose placements/training are better than the others, or vice versa (I promise I'm not MB staff!!)- I'm at [email protected]

Cheers!
Omatix

Minneapolis, MN

#3447 Dec 2, 2009
In my experience, the level of job varies quite a lot. Mine had a fair bit of responsibility, and I'd say that that's actually true for the majority of the banking jobs. The thing is that they won't promise that kind of job in an interview - it'll depend on how you do once you get there. You might get a better idea by looking at the person who hires you (who'll be in the dept that you'll be hired into, probably). If the interviewer has an interesting job, chances are you'll have an interesting one too. Ask if it's project-based work or just daily processing, for example. And asking a bit about the interviewer's job (not to the point where it pisses them off) will probably get you brownie points too.

So, yes, I definitely think it would have been more professionally rewarding if I wanted to get into banking. If they do well, a lot of interns find jobs in London.

Despite how it might have been professionally rewarding, the programme comes at a pretty high price. I'd ask myself if I can get a similar job in London, maybe transferring to an NY office in a few years. A lot of interns are very happy (mostly those who bring some extra cash and who see a clear path to their next career step from the programme), but many feel mistreated and exploited.
Coffee wrote:
<quoted text>
Omatix, thanks for making this point, despite your mixed feelings about the programme. Could you explain it a little bit more?
If you had wanted to use MB as a foothold to get into banking, do you think you would have found the internship more professionally useful and rewarding?
And out of your intake, about how many people do you think had 'analyst' level positions with the big banks (as opposed to admin/receptionist type roles)? Thanks a lot!
I really wish MB gave us more of this kind of information so we could make an informed decision as responsible adults, instead of just trying to lure interns with the carrot of NY and scare them with the stick of a difficult job market.
Living the Dream

London, UK

#3448 Dec 3, 2009
OK OK OK!

So I come and look on this forum just to see what people write! But those writing negative comments it show me the mentality and maturity of what you are trying to do! And I am NOT an MB employer…but some1 currently in the scheme that is getting fed up with reading everyone’s comments!

MB said to me in my interview about my job prospects that some may be challenging some may not , my m8s on the scheme have told me to save, and at the end of the day like living in London, some jobs are rubbish some jobs are good! Some aspects of life is good, some aspects of life is bad! Have you ever tried to live in an apartment in NYC, very expensive, have you tried to get a paid job in NYC in this climate very difficult! To be honest I haven’t been on the programme yet and I hope I get to go so it could turn out to be cack! But I strongly believe what you put into the programme is what you will get out of it…crap job, volunteer in the evenings, if you have no money now why are you going to bother going, or save or get an extra job! I am sorry but people to me do not understand how the nature of business works, MB exists to make money like any other organisation…but hey my tune could change when I am out there! But has anybody thought the people coming back with low job prospects, probably had rubbish experience before they got out there, maybe don’t know how to dress up their year out!, may have rubbish CV’s etc, they seem to think writing MB alone on their CV should get them a good job, not really people!!! I hate people who complain because they aren’t being spoon fed! Use your brain people and I am sure the experience will be a lot worthwhile! People who moan and moan and moan and do NOTHING about it are the most annoying and most stupid to me!!!
current intern

Stamford, CT

#3449 Dec 3, 2009
Coffee... no worries! there is a lot of negativity on the these pages i do agree, but yes i am really enjoying my job, dont get me wrong when i first started out i literally had nothing to do and was twiddling my thumbs a bit, its literally due to all the redunandcies that they have started to utilise me more and trust me with bigger and better projects, i do really enjoy my job and it has boosted my abilities, time management skills etc etc, my role has some levels of repetiviness to it (but which job doesnt!?!) and some of its awesome i get to work on some great projects. but like i said there are others within the same firm i am in who are literally just entering in numbers into an excel spreadsheet and its not that these interns are lazy or anything its just that some managers just use the interns to do that work. so just ask questions and insist on reaching out to an intern, as i know that my manager would be impressed if a candidate wanted to know about the role!

Good Luck
intern

New York, NY

#3450 Dec 9, 2009
As said countless times it's about what you put into it. More than a few highly strung handwringers posting on here - we paid 2 grand, which would cover a couple of months rent in the buildings you stay in (which are by no means palaces and obviously you wouldn't have a roommate at that price). So put things in perspective.

Instead of the above, you get a good social life with lots of interesting people, a year's work experience in what is likely to be a highly respected institution, an educational qualification (again be realistic in your expectations - this isn't a Harvard MBA). All the while living in a truly great city.

Money was very tight a lot of the time, save as much as you can if you want to be living the life all the time. It's the poorest I've ever been, that's for sure.

That said - 6 grand really changes everything, no way would I have been able to afford it at that price.
Current March

New York, NY

#3451 Dec 14, 2009
Just to answer some comments from quite far above...

MOST people get placed very late, even after the placement period ends. Do not expect to get placed until the last month - very rare.

Also, I know people need extra money for travel etc but how much extra did you guys need to live off?
I have spent about $7000 (5000 quid). I've been travelling quite a lot, but the wage you get paid will not cover hardly anything.

You dont get a say about who you live with until you have been here six months. I wouldnt mention that you have friends who are applying as they will definately not put you together, they actually dont like it when friends apply together.

Do not come out here thinking that you will get hired by your sponsor company afterwards. Visas are very hard to get (which is why the academic programme is important - it gets us ours!) and companies rarely pay for them. This has happened in the past, but i would say hardly at all now.

Hope this helps x

Thanks guys for all our responses!
Current March

New York, NY

#3452 Dec 14, 2009
also - these jobs are finance. anyone wanting marketing or events, there are about ten genuine jobs in these areas. be realistic about this.

having said all that - i love it!
Juicy Lucy

London, UK

#3453 Dec 15, 2009
Do you like living in New Yorkm is it everything you dremed of and more.
How do you suggest paying for the increase in fees
And there is no way I can afford paying £5000 extra in savings, that’s £110000 ideas people, ideas I want to do this very badly
CarteNoireCoffee

Bath, UK

#3454 Dec 15, 2009
Take out a loan, I will be. With a job promised on return if I get in (I hope) should be no problems paying it back.

Virgin Credit card does 16 months balance transfer interest free if you pay your minimum repayment which is not much a month. Perhaps your rents cud do this for you or something?

Do less travelling when there? Currently if you got 1500 and converted in to dollars in current rate spread out over the year thats about 50 dollars extra a week. My experiences of America though says that won't last for much but if you budget right you can probably afford a night out a week.

If your going for the 6k entry. Then woha. Going to need alot of dosh. Will be interesting to see what type of people get in for that entry.

Anyway back to checking up excel.
hopeful 2010

UK

#3455 Dec 15, 2009
Do you think if less people apply we may get our own rooms, as i dont envisage as many people being able to afford it anymore, i mean dont they know that there has just been a recession!! Even if the price goes up however there are less people applying doesnt that mean they lose out too?
CarteNoireCoffee

Bath, UK

#3456 Dec 15, 2009
I think it pretty much stipulates, that its a no unless your the person who runs the flat. If there is less people they would sell of flats, they wouldn't give everyone a single room, its less income, less viable.

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