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From Jan to June, MCA/MCS students in Pune colleges are expected to do an internship with a company for getting industry experience. I am hoping to get a couple of student interns for my company, and I'm sure many others are in the same situation. I would like to get a feel from people who have done this before as to what is an appropriate stipend to pay the students during this period. On the one hand, I would like to pay the student an amount that is commensurate with his education and efforts. There are some sad, sad companies that actually make the student pay for the privilege of doing an internship with them. That is descpicable. There are others who are upfront about saying that they'll not pay a stipend because the student is learning from them. I think that is fair in cases where the student is getting non-trivial training. And of course, there are companies that pay a handsome stipend. On the other hand, I don't want to waste money. For the first month or two, (and in many cases, 3 months) the student is unproductive, since he really doesn't know anything well enough to be useful, and spends most of his time just learning the ropes. Only after that does he start being an asset to the company. Also, it is quite common for students to disappear after a couple of months - so if you were hoping that the stipend that was wasted in the first few months will pay off in the last few months - well, it is possible that will not happen. And, finally, there's the issue that small startups cannot really afford to burn money. Even single-digit thousand rupees a month adds up, when it's for many months and many students. What is your experience? What are your suggestions? (Please note: this is not for B.E. students. This is specifically for MCA/MCS/MCM students who are still doing their degree, and are doing the internship in the last semester of their degree.) |
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I think student should at least get stipend to cope up with their exepenses for working with your company. If they wont get at least this much, they will not even put 50% of their efforts at work. Thus this is good for corporate people as well. |
Hope this helps. :) |
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Answer I got from a Pune startup founder: Earlier I had given a stipend of Rs. 5000. But in retrospect, that turned out to be a mistake. The intern definitely did not produce output worth that much and also left after a month and a half. So the money was wasted. In the future, I'm definitely not paying more than 3000. I've heard elsewhere that even 1500-2000 might be enough. |
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Another answer I got from another Pune startup founder: What we usually do is give them a small stipend for the first 3 months - Rs. 3000. They are told that this will increase after the 3 months, depending upon performance, to something in the range of Rs. 6000. At the end of 6-months, again depending upon performance, we can confirm them as full employees at market salaries. In general, students often leave after a month or two. The ones that don't leave are not really productive in the initial months. This scheme is what we've found appropriate. |
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In our company we give something around 3000-4000 not more than that & its not worth as per our experience. There are two reasons 1. They are learning for 2-3 months, so they are not contributing much to the company. 2. After 6 months they will not continue as they will be appearing to their exam after that. So, need to consider the performance, nature of work. We will also be providing certificate after that so this much stipend is fair. If we liked the performance then after 3 months we can spend more. |
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My personal opinion is this: Rs. 3000 per month - for first 3 months. Then, based on his/her performance (considering hard work, thirst to learn good things, dare to try learnt facts etc) one can increment the stipend by Rs. 1000 to 3000 (33.33% to 100% increment) for rest of the months. ... and of course, a decrement if performance is not up to minimum mark expected. :) |
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Because we invest time, infra & train the interns we should not pay them. Another thing is 'Productive' output at the end of internship is very less. But to maintain goodwill & if the person is good then to retain him/her after IT, some payment must be given. So currently we are following following policy:
Sorry, but if interns still behave like they are in college, I will blame that more on management of intern rather on interns themselves. Giving reasonable money to some one is the first step in getting their commitment. If u dnt pay now, I wont work now. :)
(05 Jan '10, 10:41)
sushrut
+1 for Sushrut's comment!
(07 Jan '10, 18:44)
Arati Halbe
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