Paid vs. Unpaid Internships: How to Decide

Now that spring semester is over and summer is underway, you’ve probably been weighing out your summer job options and considering how internships fit into your plan. If you’re choosing between a paid internship and unpaid internship, the decision may seem like a no-brainer, but there are several factors you should keep in mind.

Here are some questions to ask before making your decision.

What do you need to get out of the internship?

If you really need a summer job that pays, your focus should be on either a paid internship or a non-internship opportunity, but if you have the resources to support yourself or are able to get another job in addition to your internship, an unpaid internship may offer some perks that a paid one doesn’t. For example, many small companies don’t have the budgets to pay interns, but sometimes they can offer a lot more hands-on experience than larger companies. The key is to find out what opportunities the company is able to provide and to make the most of them. From weekly meetings with the leadership team to one-on-one mentoring with a senior manager, employers are happy to have enthusiastic interns and will likely work with you to help you make the most of your experience.

What type of internship will be most helpful to your career path?

If you’re nearing the end of your time in college, chances are you’ve already had an internship (or two) and you’re probably ready to take the next step towards your post-college career: a paid position. On the other hand, if you’re a freshman or sophomore and are looking to gain experience in a specific field, you may consider unpaid internships that give you the chance to develop certain skills and build your resume. The good news: You’re more likely to land a paid internship with an unpaid internship under your belt!

Is there a possible future with the company?

One of the best things about internships (both paid and unpaid) is that they can lead to a full-time job with a company. In fact, the promise of landing a full-time job is one of the main reasons why students consider unpaid internships in the first place. The best way to find out if the company you’re considering interning with has a history of hiring interns is to ask directly, and if they have a history of hiring interns, they’ll probably mention it upfront!

Choosing an internship is one of the most important decisions you can make during your time in college, and having as much information as possible will help you pick the right one. The key is to know what you want and work with potential employers to find the best fit.

And when you’re ready to explore your options, check out our available internships to find the perfect one for you.

Next, get more career tips for internships and entry-level jobs such as How to Tackle the First Month of Your Internship, and find answers to common interview questions such as Why Do You Want to Work Here?.