Summer internship(associate level) applicaiton/interview

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5/30/11
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(sorry for dupicated thread)
Hi.
I'm a ph.d student and considering to apply for summer internships.
I found that many firms saying that ph.d. students should apply for associate level when they apply for internship. I'm just in the middle of my ph.d. degree although I'm titled as a 'candidate' and I'm good at math but knows just little programming and almost no knowledge in finance. So I know I'm not even close to a real job application in quantative finance but I want to know how well prepared should I be to try out summer internships.
Is it a good idea to try anyway and get some interview experiences, or would you recommend that I should wait until I have quite good skills on those(math. computer, finance)?
Are there some disadvantage for the next time applying if I try without being well-prepared?

Thanks.
 
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