However there are still a huge number of unpaid internships (specifically in the not-for-profit sector), many agencies are recognizing the true worth of internships, and professional students fill their temporary hiring requirement. Another benefit is that companies get to try out these “temporary employees” for a brief period with no devotion; but if they turn out to be motivated star players within the agency, they have the possibility to offer them full-time employment once their “trial” period is completed.

Having interns come in for brief periods of time offers employers key benefits in meeting their future hiring requirements. Employers not just learn the interns’ aptitudes and abilities but are assured that the intern knows what they are getting into since they have become familiar with both the work involved and the business environment. It ultimately means higher employee retention in new employees and less employee turnover for employers.

Pursuing the Most Talented Students

When it comes to paid or unpaid internships, interviewers have a chance to attract talented students by offering a salary or monthly stipend.

Establishing Equal Opportunities for Students

Paying interns also assure an employer that they aren’t overlooking victorious students who can’t afford to work for no pay or pay for college credits to complete an internship during the season of summer. Several employers require students to receive credit for the internship instead of pay, to justify that the student is receiving some type of benefit for doing the internship. The problem with this is that many students cannot afford to pay for college credit if they are not paid for the internship. Students doing internships during fall or spring semester can usually roll their internship in with their college tuition; but if they do an internship during the summer, they have to pay the college a per credit hour fee. At few colleges, they have started transcript notations as a way to show their commitment to honoring the worth of internships experience without requiring the student to pay any college fees. Transcript notations can be used when an internship does not qualify for credit or if students elect not to do the internship for credit due to academic requirements or additional tuition costs required by the college.

Institutes Offering Funding

Recently more and more colleges are putting together programs that give students a stipend or give funds for those doing unpaid internships for the season of summer.

It is a great incentive for students to get experience in the nonprofit sector while being capable to make some money to assist with their living and college expenses. Few colleges offer alumni the opportunity to fund the worth of internships, and this gives a win-win situation for the student, the alumni, and the college. Alumni get the opportunity to assist students from their alma mater (perhaps even offering a fund in their name), the college gets good press for helping students get relevant work experience prior to graduation, and students gain the knowledge and skills they need when entering the job market that will put them on par or ahead of the competition. The Praxis program at Smith College is a good instance of what some colleges are doing to assist students by funding internships.

Worth of Internships in Future

All in all, I consider we are going to see more employers willing to pay their interns a salary as internships become more of a core part of the employee hiring procedure; as well as more colleges who are willing to give some form of compensation to offset the amount students are needed to pay for receiving credit.

These changes will offer more equality for students who have been not able to accept unpaid internships or for those where employers need that they get credit to do an internship.