Intern Pay
Intern pay is controversial and important. There are lots of different ways to talk about intern pay, but for now, I just want to highlight the three most popular ways interns are currently being paid. The unpaid vs paid internship debate is for another day in the future. Here are the three ways that interns are paid:
(1) Salary. Great companies pay their interns a salary. Some legal and MBA interns are paid over $10,000 for the summer, which is very cool. Most internships pay between $7.50 -$30 per hour depending on the length of the internship, role, etc. Some companies also get creative with their intern salaries.
(2) Stipend. Stipends are great way for low margin companies to reward interns. They typically work out to low hourly pay, but interns do interesting work. This is popular amount marketing internships, pr internships, media internships, etc. Stipends allow companies to legally have interns without paying too much.
(3) Unpaid. Most unpaid internships are technically illegal, but there are ways that companies can create technically legal unpaid internships. Here is the official department of labor internship pay guidelines.
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