Approximately half of all internships in the United States are unpaid despite the majority of college students facing financial stress, according to a 2022 study by the National Association of Colleges and Employers.
Although unpaid internships can provide experience for students looking to enter the career field, internships have become unrealistic due to the financial strain they put students under.
The benefits that come from unpaid internships do not outweigh the downsides.
According to the U.S. Department of Education, the cost of college rose 31% between 2008 and 2018. The rise in tuition has also caused more financial strain on students. A study from the National College Health Assessment in 2018 found 75% of college students faced moderate to high financial stress in the past year.
Students working toward graduation have to balance both school and being able to afford everything financially. Unpaid internships add unnecessary stress to the equation as they put pressure on students to gain experience toward their career field while holding additional jobs to make ends meet.
The added financial burden that unpaid internships cause for students also favors students who come from higher income families, as they are more likely to be able to work for free. Paid internships give opportunities to students from all backgrounds while still providing them with the same work experience that an unpaid internship promises.
As a senior preparing to graduate in the spring, I have felt financial stress to pay tuition, housing and everyday expenses. I also plan on attending law school in the future, which adds another financial element.
Along with increasing the financial strain on students, unpaid internships also are not as effective at helping students secure jobs as paid internships. A study by Zippia found that paid internships are 32% more likely to result in a full-time job opportunity than an unpaid internship.
Employers can also reap benefits from paying interns, as they can give interns more responsibilities, which allows them to find full-time employees for the future from their internship programs. A 2022 study by the National Association of Colleges and Employers found 80% of employers who have internship programs have the greatest return on investment when finding future full-time employees.
Paid internships don’t have to pay as much as a full-time position — it is still an internship after all — but it allows students to get valuable experience while still getting a paycheck. They also incentivize students to work and learn more from their internships as people are often more productive when they are compensated for their work. While us college students are still honing our skills, we still deserve to be compensated for the skills and ideas we bring to the table.
While unpaid internships may have had their place in the past, they are now extremely outdated due to the financial situation that students face, along with the increased competition in the workplace.
I am grateful for companies that do provide paid internships for students, as they recognize the skills that students have been learning in the classroom and the financial struggles that many college students face.
Including more paid internships on campus and focusing on paid internship programs would promote a better campus environment, as students could be involved with active learning and be compensated for their work and ideas. For employers, it would provide them with interns who are honing their skills and have incentive to do their best.
