Internships: Paid vs Unpaid

Getting an internship can provide you with valuable on-the-job experience. It may help you improve your resume enough to land your dream job in the future. However, you may have to choose between a paid or unpaid internship at some point. Here are a few things to consider about whether you should get a paid or unpaid internship. 

Unpaid Internships

With an unpaid internships, your main objective is to gain experience in the industry that you seek to get into. This is not like when you get a summer job and try to save money. Your only goal here is to help fill out your resume for when you start applying for jobs after college.

Just because an unpaid internship does not provide you with any money, that does not mean that there will not be some perks involved. With an unpaid internship, businesses will often provide you with other things as incentives. For example, they might give you a subway or bus pass in order to help you get to and from work without wasting your own gas money. The company might provide you with free lunch everyday. You might even get tickets to a great event in return for your work. People that work at unpaid internships regularly take advantage of some great benefits other than a paycheck.

Another benefit of working an unpaid internship is that the employer will most likely be more lenient with you. For example, they may not require you to work a full 40 hours a week like other employees. They might even be more flexible with scheduling so that you can work another job if you need money.

Because you are not receiving any financial benefit for working at the company, management will often be more appreciative to you. Your manager or boss might be more willing to open up to you and provide you with valuable knowledge about the industry.

Paid Internships

With a paid internship, you will also be able to gain valuable experience in the industry. However, with this type of internship, you will be paid something for your services. In most cases, you will not be paid that much. Sometimes it might only be a minimum wage or slightly above minimum wage job. In other cases, they might give you a stipend in order to cover your expenses. However, the great thing about paid internships is that you may not have to get a second job to pay for your expenses. You can focus completely on your chosen industry and learn as much you can.

The majority of internships in today's business world are paid internships. Therefore, this is going to be the most commonly offered type of internship available.

College Credit

Something else that you might want to consider about available internships is whether or not you receive college credit for participating. Both paid and unpaid internships can offer college credit and this can help you graduate faster.

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