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Frequently Asked Questions: Entrepreneurial Summer Program (ESP)
For Students
This is the Entrepreneurial Summer Program FAQ for students. To view the company FAQ, click here.
Link here for the main ESP information page for students.
How do I find a job?
You may do so through a number of methods:
- Independent search: Through your own networking and resources you can find an opportunity that may be appropriate for ESP funding. Be aware of the guidelines for funding; they are listed here.
- CES Postings: The CES will be posting positions as we find and approve them. We encourage the companies to post the opportunity on the CMC Job Board and we will keep the open applications on the student shared drive. Some of these will be "pre-approved" for ESP funding after February 1st, others will be pending approval with the student application.
- CMC Positions: Some companies, although very few, who recruit through OCR may be appropriate for ESP funding.
What kind of jobs are appropriate for ESP funding?
In previous years we have had a wide variety of placements. Industries have included high tech, hospitality, consumer products, apparel, software, clean tech and more. Locations have been US domestic as well as international.
How much money can I expect to make?
We set the target salary at a level just below median wages for GSB students for the summer. That amount has not yet been determined for the summer of 2010. However, this is also dependent upon what the company is willing to pay. If you are pursuing a job independently, it is in your best interest to have the company make you an offer for as much as they can. ESP funding, as available, can help make up the deficit. We do not disclose our maximum contribution as that will bias offers from the companies.
How do I get paid?
Your employer will pay you directly for their portion of the
compensation. The stipend from Stanford will be paid to you directly and will come in two parts. One will be issued about three to four weeks into the summer, and the other will be issued at the end of the summer after you have submitted your final report.
May I split my summer experience and do less than 10 weeks with ESP?
It is not our preference to do so. We have, by exception, granted funds for less than 10 weeks, espeically if the student is undertaking a 4 week GMIX. The absolute minimum is 8 weeks.
What should I do if I have a company that wants to hire me?
First, be sure they fit the guidelines for company qualifications if you think ESP funding will be necessary. The company will need to complete the ESP application either prior to you receiving an offer or after you've agreed on an offer. You must submit your application for approval as well.
How strict are the guidelines?
As best we can, we try to stick to the guidelines. There may be exceptions in the rare case, but at a bare minimum we do require that a company be an operational company (as opposed to an investment fund) with an experienced mentor. This year our funding is very limited so it is unlikely that we will deviate far from the guidelines.
How many will be stipends will be awarded?
We expect to award approximately 30 stipends for the summer, but the limit is based on the total amount of money we have as opposed to a number
of stipends.
Can graduating second year students apply?
No. The funds are designated for MBA student's summer internships between their first and second years at the GSB or dual degree MBA students who are returning in the fall.
What do you mean by "qualified for financial aid"?
You must have applied for aid through the GSB Financial Aid office and have been approved for a loan by February 1st 2010. You do not have to have taken the loan.