The internship debate: Paid or Unpaid? Which side are you on?

When managed properly interns can be a great asset to an organization during the summer or school year. They can be hard working, diligent and come with enough aptitude or basic skills to learn on the job.  But they also have relatively no experience and if you rely on them too much you’ll miss them in your business when their term ends.

Considering the pros and cons of hiring interns there is also the question of resources. Do you have enough to pay them, and if so would you?

Paid.

“There is no question about payment in our organization. Even if resources are scarce we pay our interns as we do all of our employees. Our company is not a volunteer organization and we need to demonstrate the investment in them as much as they would to us. The wage can differ depending on the role but is always offered.”

Paying your interns usually brings in higher quality and allows talent from other areas to make the move towards your office. But it also demands a budget and will limit the number you bring in. As with any hire, they can be a hit or a miss, and if someone doesn’t pan out their workload will still have to be done.

Unpaid.

“Our company doesn’t have the budget and doesn't feel the need to pay our interns. We’d love to offer them a wage or stipend but the fact that we offer experience is valuable enough to them. We try to give them intangibles such as closer mentorship and introductions to other people in their areas of interest. It’s possible we may pay some in the future, but it hasn’t been an issue so far with any of the great students we brought on board.”

Having unpaid interns usually means that you have to spend more time managing them. Since they aren’t getting a wage or stipend they typically can’t commit to a full time role or may even have to work remotely. Culture and morale can be a determining factor so focusing on intangibles like mentorship and future job recommendations are necessary to keep them engaged.

A student’s primary objective is getting experience through their internship and working with a startup, paid or unpaid, gives them unique opportunities to make real contributions. It largely depends on the financial situation of the student and the company to offer them a wage but it’s a consideration that both sides should take seriously.

Do you believe strongly about having paid or unpaid interns? Any anecdotes as an intern or manager you’d like to share? Let us know if the comments!