Seth Godin has a great post about working for free that applies to both students and experienced professionals who are looking for work in tough times. Most college students I talk to are frustrated with how hard it is to land a quality job in a down economy. My advice to them is to be different and stand out from the crowd. Charlie Hoehn's e-book is a good "how to" on free work for any student or recent grad.
Performing free work is one meaningful way to get noticed from a company you care about when looking for your next gig. Entrepreneurs and fast moving companies love free work from smart people who care about their businesses. Big bureaucratic businesses typically frown on pro bono work, but often times forward thinking managers at those companies will be willing to work with you informally on a project.
Free work is a win/win. Companies get cheap and high quality work along with the ability to evaluate new talent in action. Workers get valuable experience and relationships that often lead to rewarding permanent work. So use free work as an opportunity to target that company or non-profit you love and wow them with your best work. One word of caution –just be careful to set the right expectations up front. Set a deadline for when the free work ends. Be appreciative of the opportunity, but make it clear that your goal is to either land a paid permanent or long-term consulting position.

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