Advertisement
business

Paid Internships Pay Off

They lead to job offers more often than unpaid positions do.

Internships are a must for twentysomethings trying to crack the job market. Nearly two-thirds of 2013's graduating seniors took part in an internship during their college years, according to the National Association of Colleges and Employers. But there may be fewer opportunities for unpaid gigs after a U.S. district court found that two unpaid workers on Fox Searchlight's Black Swan movie set were called interns but treated as employees, and should have been paid.

Unpaid internships at for-profit businesses must meet U.S. Department of Labor standards. The assignment must be similar to training in an educational setting, for instance, and exist for the benefit of the intern. Interns can't displace regular staffers, and they must be closely supervised.

Advertisement - Article continues below

Many companies do pay interns. If they don't, be skeptical of the opportunity. Stephanie Sienkowski earns $15 an hour interning for the American Council for an Energy-Efficient Economy, in Washington, D.C., researching financing options for green office and apartment buildings. "This internship has given me a good sense of the market," she says. "I think it will lead me to a job."

She's probably right. Another NACE survey found that 63% of paid interns received at least one job offer, and only 37% of their unpaid peers did — barely more than those with no internships at all.

Advertisement

Most Popular

What Are the Income Tax Brackets for 2020 vs. 2019?
tax brackets

What Are the Income Tax Brackets for 2020 vs. 2019?

The IRS unveiled the 2020 tax brackets, and it's never too early to start planning to minimize your future tax bill.
June 20, 2020
Tax Changes and Key Amounts for the 2020 Tax Year
tax law

Tax Changes and Key Amounts for the 2020 Tax Year

Americans are facing a long list of tax changes for the 2020 tax year...and it's never too early to start thinking about next year's return.
June 22, 2020
10 Tax Breaks for the Middle Class
tax deductions

10 Tax Breaks for the Middle Class

Tax breaks aren't just for the rich. There are plenty of them that are only available to middle- and low-income Americans.
June 30, 2020

Recommended

Nursing in the Time of COVID-19
Financial Planning

Nursing in the Time of COVID-19

This health care professional warns that the pandemic will worsen the nursing shortage.
July 2, 2020
Chiropractor Trying to Get Business the Wrong Way – Illegally
careers

Chiropractor Trying to Get Business the Wrong Way – Illegally

A new chiropractor’s fledgling business plan to attract patients may sound reasonable at first look, but it’s actually against the law, and the same p…
June 30, 2020
Post-COVID-19, Seniors Must Chart a New Path in the Workplace
retirement

Post-COVID-19, Seniors Must Chart a New Path in the Workplace

Those most vulnerable to the pandemic will face challenges in the return to work, even as the recession means they may need their paychecks more than …
June 11, 2020
Dealing with an Early, Unexpected Retirement
retirement

Dealing with an Early, Unexpected Retirement

Current economic and health crises may be pushing many toward an unexpected retirement. Now is a good time to make a plan for yourself, just in case.
June 9, 2020