Do You Get Paid as an Intern?

Salary Ranges, Stipends & How to Spot Under-Payment

Most internships do pay. But not all of them pay well. And some don’t pay at all.

If you’re wondering whether to take an unpaid internship or how much you should be making, this guide breaks it all down. We'll cover:

• Average intern pay
• Where the high-paying internships are located
• What constitutes a fair stipend
• When an unpaid internship might be worthwhile

---

Yes, Most Internships Pay

Paid internships are the norm, not the exception: especially at large companies or in high-recruitment fields like tech, finance, and consulting.

According to Glassdoor, the average U.S. intern makes $24.63/hour: about $4,000/month full-time.

But be careful: industry and location play huge roles. Most internships pay: but what you earn depends on field, location, and timing.

---

What Determines Intern Salary?

Not all paid internships are equal. Factors include company size and industry, internship location, and your major. Big tech and finance pay higher than startups and nonprofits. Higher cost-of-living cities (SF, NYC, Seattle) typically come with a higher paycheck. STEM and Business/Econ majors tend to get paid more. Meanwhile, Arts & Humanities** face more unpaid options.

Typical Pay Bands by Industry

Industry	Monthly Pay
Quantitative Trading	$12,000-$21,000
Tech (FAANG+)	$7,000-$9,000
Finance / Consulting	$5,000-$8,000
Business (Marketing, Strategy)	$3,000-$5,000
Research / Labs	$15-$25/hour
Media / Arts / Nonprofits	$0-$3,000

Real Examples: Specific Companies That Pay Big

Here are actual companies and their reported intern salaries:

The Highest Paid (Quantitative Trading):

• Jane Street pays $20,833 per month for quantitative trading and algorithmic strategies roles.
• Tower Research Capital offers $13,000-$21,000 per month ($75-$125 per hour) for proprietary trading positions.
• Citadel Securities compensates interns $15,000-$18,000 per month for market making and quantitative research work.
• Hudson River Trading provides $12,000-$16,000 per month for high-frequency trading internships.

Tech Giants:

• Stripe offers $9,064 per month for fintech and payment processing roles.
• Roblox pays $9,017 per month for gaming and metaverse development positions.
• NVIDIA compensates interns $8,280 per month for AI and GPU development work.
• Coinbase provides $8,206 per month for cryptocurrency and blockchain projects.
• Meta offers $8,160 per month for social media, VR, and AR development roles.
• Amazon pays $7,809 per month for cloud computing and logistics internships.

Consulting & Finance:

• Capital One offers $8,050 per month for banking and data analytics positions.
• Bain & Company compensates management consulting interns $7,873 per month.
• EY-Parthenon provides $7,651 per month for strategy consulting roles.
• Credit Suisse pays $7,947 per month for investment banking internships.

Paid vs Unpaid: What’s the Tradeoff?

Yes, unpaid internships still exist, especially in:

• Media, arts, fashion, design
• Museums & nonprofits
• Education & research
• Government & public policy

In fact, an unpaid internship may be worth it in some cases. For example, if you're new to the field, giving you opportunities to get experience and mentorship you wouldn't have otherwise. Sometimes, volunteering can lead directly to a paid role at the same company.

However, keep in mind that not all unpaid internships are worth your time. If you have to drive across town for a coffee run during your internship, there's a good chance you're not getting paid enough or getting the experience you want. Also, if you're just doing admin work, you could be missing out on the opportunity cost of learning new skills. Try to keep in mind why you want the unpaid internship in the first place and figure out early if it's not meeting the expectations you set for it in the first place.

Takeaway: Be careful. You’re trading your time: make sure it gets you something.

How to Spot Under-Payment (and How to Respond)

Even paid internships can still be unfair. Here are some common warning signs that may suggest you’re being underpaid or undervalued. None of these red flags are automatically deal-breakers, but taken together, they can signal a role that may not be worth your time.

Vague or Unclear Pay Details

If the posting says "small stipend," "compensation TBD," or avoids mentioning pay altogether, this is a red flag. Stipends can sometimes be fair if they include housing or transportation, but many break down poorly when you calculate the effective hourly rate. Always do the math. For example, a flat $2,000 stipend for 10 weeks of full-time work equals about $5/hour: well below minimum wage in most places. A true hourly wage is usually more transparent, with pay distributed regularly and tied to the hours you work.

Flat Rates Without Context

Some organizations, particularly in nonprofits, research, or the arts, may offer flat-rate stipends instead of hourly pay. This isn’t always bad if housing, meals, or other benefits are included, but you should calculate what the total package is worth compared to your time commitment. If you’re expected to work full-time hours for a flat rate, make sure the tradeoff makes sense for your situation.

Lack of Structure or Mentorship

If an internship description says there’s "no set manager," "no clear projects," or that the role will be "very varied," you should probe further. While flexibility can be valuable, these phrases may also mean you’ll be working long hours without meaningful guidance or deliverables. Similarly, vague promises like "lots of learning opportunities" without specifics can indicate that the role is unstructured: or that the employer hasn’t thought through what interns will actually learn.

Buzzwords That Hide Expectations

Be cautious with terms like "fast-paced startup" or "flexible schedule." These phrases aren’t automatically bad. They can be exciting if you’re looking for variety, autonomy, or the chance to take on big challenges early in your career. But they can also signal long hours, shifting priorities, or unclear boundaries. If that environment appeals to you, great! Just make sure you know what you’re signing up for. Ask clarifying questions about day-to-day expectations, mentorship, and working hours so you’re not caught off guard.

How to Respond

If you suspect underpayment, it’s always okay to ask directly if the role is paid and what the compensation structure looks like. While timing can feel tricky, asking early saves you from wasted interviews. You can also research past intern reviews on sites like Glassdoor, Blind, or Reddit to gauge typical compensation. And remember: most offers have some flexibility. Salary ranges are common, so don’t assume the first number is final. Politely stating your expectations can make a difference.

Should You Take an Unpaid Internship?

Unpaid internships still exist, especially in media, arts, nonprofits, and government. Sometimes, they can be worthwhile if they help you gain practical, relevant skills, access strong mentorship, or open doors to future paid roles. However, they should be considered carefully.

Ask yourself:

• Will I gain skills that are directly relevant to my career goals?
• Can I afford the role without causing financial hardship?
• Is there a realistic path from this role to a paid position?
• Are there alternative paid opportunities that would give me similar experience?

If the answers to these questions aren’t convincing, the unpaid role may not be worth your time.

The Creator Economy & Startup Wild Cards

While we couldn't find specific data on Cluely, the creator economy and startups can offer surprisingly high compensation for the right roles:

Creator/Content Roles:

• UGC Creator internships at growth-stage startups: $3,000-$8,000/month
• Social Media Strategy roles at funded companies: $4,000-$6,000/month
• Content Marketing at Series A+ startups: $5,000-$7,000/month
• Influencer Marketing coordinator roles: $3,500-$5,500/month

Why Some Startups Pay Big:

• Venture funding allows competitive salaries
• Need to compete with big tech for talent
• Value growth marketing and content creation highly
• Smaller teams = more responsibility = higher pay

Note: Startup pay varies wildly. Some offer equity packages that could be worth more long-term than the cash component.

Recap: Internships DO Pay: But Know What's Fair

• Yes, most internships are paid. The U.S. average is around $24/hour.
• Highest-paying roles are in quantitative trading ($12,000-$21,000/month) and top tech ($7,000-$9,000/month).
• Jane Street leads at $20,833/month for quant trading internships.
• NVIDIA, Stripe, Roblox top the tech category at $8,000-$9,000/month.
• Industry matters: Trading/quant >> tech >> consulting/finance >> everything else.
• Startups can surprise with competitive pay, especially in creator economy roles.
• Unpaid internships still exist: choose carefully and know your goals.
• Red flags to watch for include vague pay, unclear responsibilities, and overly broad promises of "experience" or "exposure."
• Always calculate stipends into an hourly equivalent so you know what you're truly earning.

You deserve to be paid fairly for your work.

Want only paid internships? Use Simplify to filter by pay and find internships that match your skills and interests. Over 200 million applications were submitted through Simplify this year - start using it to find your next opportunity today!!