Do You Get Paid for Internships

Salary ranges, stipends, and how to spot underpayment

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 and in high-recruitment fields like tech, finance, and consulting.

According to NACE's 2026 Guide to Compensation for Interns & Co-ops, the average bachelor's-level intern earned $23.35 an hour in summer 2025: about $4,000 a month full-time.

That number has crept up every year, but it hasn't kept pace with prices. Adjusted for inflation, NACE found the average intern wage fell 3.4% between 2016 and 2025.

And the average hides a huge spread. 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 more than startups and nonprofits. Higher cost-of-living cities (SF, NYC, Seattle) typically come with a higher paycheck. STEM and business or economics majors tend to get paid more, while arts and humanities majors face more unpaid options.

What postings pay, by field

These ranges come from companies' own postings that Simplify tracked in 2026, plus NACE's national average and published program stipends. Monthly figures assume 40 hours a week.

Field	Posted pay	Roughly per month
Quantitative trading	$3,500 to $5,800 a week (Tower Research, Citadel Securities, HRT)	$15,000 to $25,000
Big tech and fintech software	$52.59 to $62 an hour (Amazon, Stripe, Coinbase, Roblox)	$9,100 to $10,700
Bank strategy and analyst roles	$89,000 to $109,000 a year, annualized (Capital One)	$7,400 to $9,100
Big Four accounting	$37.50 to $48.08 an hour (EY assurance)	$6,500 to $8,300
All fields, national average	$23.35 an hour (NACE, summer 2025)	About $4,000
Federal research programs	$650 a week at DOE's SULI; NIH and NASA set stipends by education level	About $2,800 at SULI
Media, arts, and nonprofits	Often unpaid or a flat stipend	Varies

The SULI figure comes from the Energy Department, which also reimburses one round trip for interns who live more than 50 miles from their lab and offers housing support. NIH says its stipends are adjusted every year and based on your education level, and NASA says most of its interns receive a stipend based on academic level and session length.

Real examples from 2026 postings

Here is what specific companies listed in their own postings, as tracked by Simplify through October 2026. Pay ranges usually depend on location and level.

The highest paid (quantitative trading):

Jane Street lists a base salary of $300,000 for its New York quantitative trader internship. That is an annualized rate, about $25,000 a month.
Hudson River Trading pays a weekly base of $5,800 in New York for its summer 2027 software engineering internship (about $25,100 a month), plus a signing bonus and company-paid housing.
Citadel Securities lists $4,500 to $5,800 a week for its quantitative trader internship, about $19,500 to $25,100 a month.
Tower Research Capital lists $3,500 to $5,700 a week in New York and Chicago for its summer 2027 quant trader and researcher internship, about $15,200 to $24,700 a month.

Tech giants:

Roblox pays $62 an hour for its summer 2027 software engineer internship, about $10,700 a month.
Coinbase lists $60 an hour for software engineer interns, about $10,400 a month.
Stripe lists an annual US base of $123,500 for software engineer interns, about $10,300 a month.
Amazon lists $109,395 a year, annualized, for summer 2027 software development engineer interns in Seattle and Arlington, about $9,100 a month.
NVIDIA lists $20 to $56 an hour for its 2027 Ignite internships for first- and second-year students. Where you land depends on the role, your location, and your year in school.

Banking, consulting, and accounting:

Capital One listed $109,000 a year, annualized, for its summer 2027 strategy consulting internship in McLean, Virginia (about $9,100 a month), and $89,000 for its analyst program for sophomores (about $7,400 a month).
EY lists $37.50 to $48.08 an hour for an assurance internship, about $6,500 to $8,300 a month.

To see which roles like these are open today, browse our big tech internship list or fintech internship list, both refreshed hourly.

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, it can give you experience and mentorship you wouldn't have otherwise. Sometimes, volunteering can lead directly to a paid role at the same company.

However, not all unpaid internships are worth your time. If you have to drive across town for a coffee run, there's a good chance you're not getting paid enough or getting the experience you want.

If you're just doing admin work, you could also be missing the chance to learn new skills. Keep in mind why you wanted the unpaid internship in the first place, and figure out early if it's not meeting the expectations you set for it.

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

How to spot underpayment (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 an 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 mean 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, and 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 Indeed, 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.

Startups are the wild card

A well-funded startup may pay close to big tech. An early-stage one may offer a small stipend and some equity.

Ask for the hourly rate before your final round, and treat early-stage equity as a bonus rather than part of your pay.

Recap: internships do pay, but know what's fair

Most internships pay. The average bachelor's-level intern earned $23.35 an hour in summer 2025, according to NACE.
Quantitative trading pays the most: $3,500 to $5,800 a week in current postings, or about $15,000 to $25,000 a month.
Jane Street's New York quant trader internship lists a $300,000 annualized base, about $25,000 a month.
Big tech and fintech software internships list about $52 to $62 an hour at Amazon, Stripe, Coinbase, and Roblox.
Industry matters most. Trading pays more than tech, tech pays more than banking, consulting, and accounting, and those pay more than most other fields.
Startup pay varies widely, so ask for the number early.
Unpaid internships still exist. Choose carefully and know your goals.
Red flags include vague pay, unclear responsibilities, and overly broad promises of "experience" or "exposure."
Always convert a stipend into an hourly rate so you know what you're truly earning.

You deserve to be paid fairly for your work.

Want only paid internships? Use Simplify to find internships that match your skills and interests. Simplify users have submitted more than 200 million applications with Copilot. Start using it to find your next opportunity today.

Do You Get Paid as an Intern?

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