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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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As a student i believe that every student should be given stipend to pay their expenses as an intern so that they can put their best to cope up with their job otherwise they might not even put their 50% of their caliber. |
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Let me share our experience of last 2 years 1st we paid 7500/- we felt it is more then 4000/- sounds ok for both now 5000/- seems perfect as they have completed education so have some knowledge they come for six months so we have this conclusion from past experience |
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One reason I know why many interns (including me and lots of my colleagues when I was an intern) leave a good thriving (but low paying) startup is that they are not better informed about the startup culture. In start of my career, I used to aspire and appreciate a job in Infosys/IBM/... like big companies and used to think that those who got there are lucky. Contrary, I was working in a startup and amongst better people and culture. |
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I am of the opinion that some stipend must be given, for the simple reason that a company is not doing social service by keeping interns. The reason interns are employed are because there is a definite value add. I think this should be looked at just like any other business case. The value add may not be equivalent to that of a full time, well trained employee, so factor for that. Also account for other factors like training period. Having a bond/commitment does not seem to be a very good idea for a startup kind of case. If the work is indeed challenging, and stipend decent, no one would quit. I feel an exchange of money imparts a certain sense of responsibility too on part of the interns. Of course it is the employers responsibility to choose the right candidate, so that quality of deliverable is good. I feel 40-50% of a fresh MCS'a salary could be a good figure. This can be divided in a fixed amount plus a bonus amount. Bonus can be given at the end of tenure. |
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I am sure the comments above have a lot of information and a lot of ways... I have not gone through more than a couple of them, but an opinion I have is that for an intern there should be a 2 tier compensation: Basic + Performance based... Basic compensation could take into account ur company salary scales, number of hours put in per week, accessibility of the office by public transport, etc... |
