What Is a Paid Internship?

intern taking photo of her paycheck
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Paid internships offer students a way to gain relevant knowledge and skills required to succeed in a specific career field while making some money through an hourly wage, salary, or stipend over the course of the internship.

The number of paid internships being offered by employers appears to be on the rise. Many say this is due to the high amount of lawsuits regarding interns that have been filed over the past few years.

Companies are watching these lawsuits, and they want to protect themselves. Paying their interns seems like the first step in doing so.

What Companies Offer Paid Internships?

The majority of Fortune 500 companies pay their interns. The private sector also offers several paid internships. In addition, large employers, like Viacom and Warner Brothers, are now paying their interns. Other industries who commonly pay interns include banking, government, account, and IT.

What Do Interns Typically Get Paid?

In 2015, NACE reported that the average hourly wage for undergraduate interns was $17.20. With paid internships, students are typically paid weekly, bi-weekly, monthly or provided a stipend.

What Industries Typically Offer the Highest Internship Payment?

The same report concluded that the highest internship salaries were reported for computer science and engineering majors and the lowest were reported from education, liberal arts, and social science majors.

Paid vs Unpaid Internships

When evaluating which internships to pursue, students do factor in pay. When given the choice between a paid internship and an unpaid internship, students are going to think about the experience offered, the opportunity to be hired after graduation, payment, and think about which opportunity will add the most value to their resume and professional skill set.

How to Find Paid Internships

To find paid internships, visit your career center. In addition, visit Indeed.com, SimplyHired.com, LookSharp.com, Internships.com, and of course, InternQueen.com.

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