Introduction: Negotiate Stipend
Starting an internship is an exciting time for any student and fresher, but there is always one question that they hesitate to ask, that is, “Can we discuss the stipend?” Many students avoid this topic during their internship because when students negotiate their stipend, the company thinks that they care only about the money.
How to negotiate stipend for an internship role is the best guide for students who want to understand their worth in the market and communicate accordingly. How to negotiate stipend for an internship role is not about asking for a higher amount but knowing your value and communicating it to the company respectfully.
How to Negotiate Stipend for an Internship Role?
1. Know the Internship Before Discussing Stipend
Before negotiating the stipend, try to know what precisely the internship is. So, go through the job description properly and have a clear picture of your duties.
- Ask yourself the following questions:
- How many hours a day do I need to work?
- Will the job be remote or hybrid or office-based?
- How long is the internship?
- What are my duties?
- Do I need to learn specific skills?
- Do I get any independent responsibility, or will I just support the team?
- After the completion of the internship, do I get a chance to join the company on a permanent basis?
Therefore, in your negotiation, these factors will give you a fair idea about the given stipend. For example, an internship that requires only 4 working hours per day may have a different pay scale than the one which requires 8 or 9 working hours per day. Similarly, an internship where you will just support the team has a different pay scale than the one where you get independent responsibility.
2. Research About the Market Rate
Before negotiating, do some research on the market rate. In other words, you need to have an idea about the stipend of a similar kind of internship. So, you can search online for jobs or internships similar to the one you are going to take. You can get an idea of the stipend range from the following sources:
- Company career page
- Job portals
- Internship portals
Therefore, while negotiating, you must use this information to negotiate the stipend. For example, if you get an offer for a content writing internship for ₹5,000/month, but according to your research, the stipend ranges between ₹8,000 to ₹12,000, then you can negotiate it. While negotiating the stipend, avoid saying something like, “I deserve ₹15,000/month. I need more money for my personal use.”
3. Know Your Skills
Your best negotiation point will always be the value you can bring to the company. Even as a fresher, you might have a few skills up your sleeve. Maybe you have written articles in your college, handled your social media account, made presentation slides, designed on Canva or made videos. Or maybe you have done some courses or worked on some interesting projects. Make a small list of your important skills before hand.
For example, if you are a content writing intern, you could say, “I have experience with writing college articles/blog posts and have basic knowledge of research, SEO and editing. Since the job requires regular writing, I wanted to know if there was a possibility of increasing the stipend?” Much better than simply asking “Can you increase my stipend?”
4. Choose the Right Time
Your timing in asking for a raise can make all the difference. If the company has just contacted you for an interview, it’s probably not the best time to ask them to increase your stipend right away. Understand the role and the company and try to express your interest in the role genuinely. It’s better to ask for a raise once you’ve received the internship confirmation. Because then, they’ve already decided they want you on board and there is more room for negotiation.
5. Do not be Afraid to Ask
A lot of students refrain from negotiating because they believe the company will not accept them. In the majority of cases though, asking politely does not guarantee that you will not get the offer. The way you ask matters here. Do not use aggressive statements such as, ‘I won’t join you guys unless you pay me 1.5 lac’.
Use statements such as, ‘Will you be able to adjust the stipend to something close to 10,000?’ That way, there is room for negotiation for you.
6. Give a Reason to Negotiate
If you can, always give a reason to negotiate. You could state the skills you possess and your past experience if any. You could mention if the job requires full time dedication, travelling, etc. Here’s an example, ‘Since the internship requires full time dedication, and since I have experience handling customer service, will you be able to adjust the stipend to 12,000?’ Your offer might still be rejected. But remember, you are asking politely and giving reasons for the same.
7. Consider the Complete Offer
While the stipend is important, it shouldn’t be the sole deciding factor, says an internship with a lower stipend, but good learning curve, mentorship, certificate, flexible hours or even a probable job offer might be a better choice than one that pays double but offers little else.
For instance, an internship that pays ₹8,000 but offers a steep learning curve may be a better option than one that pays ₹12,000 but teaches little. Think about the entire package.
What If The Company Says No?
Do not take it personally and move on. The company may have a capped budget for intern stipends. If they cannot give you more money, ask if they can offer anything else. Ask open-ended questions like, “If the stipend is fixed, would there be an option for a hike in performance after the first month?”
Ask about options for flexible working hours, travel allowance, performance-based bonuses or even a permanent job opening after the end of the internship. The company may not be able to raise the stipend but may offer you one of these alternatives.
Conclusion: Negotiate Stipend
How to negotiate stipend for an internship role has valuable insights that can help you throughout your career. You do not need extensive professional experience to have a confident conversation with someone about money. To negotiate a stipend successfully, research, define roles, identify skills, time, and ask politely. Your conversation should not sound like a confrontation; instead, it should be a dialogue where you can come across as a reasonable and professional party.
As an intern, your primary objective should be to gain enriching experience. However, this does not mean that you cannot ask for something that will make your life as an intern more comfortable. A polite stipend negotiation will help you learn a thing or two about your professional worth.
“An internship is an opportunity to learn, but your time and skills also have value. Research fair stipend ranges, understand your contribution, and communicate your expectations professionally. Negotiate with confidence and make smarter career decisions with Best Job Tool.”
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