Key Facts:
“At low income levels, two factors are especially important. First is a steady work record. Work experience, even at low income levels, yields earnings gains over time”
“NACE reported that 47 percent of internships in 2022 were unpaid.”
"Unpaid internships lead to job offers but not as many as paid internships do. According to a 2022 survey from the National Association of Colleges and Employers, paid interns averaged 1.61 job offers, while unpaid interns averaged 0.94 job offers."
“Paid interns reported making a median starting salary of $62,500, while unpaid interns earn a median starting salary of $42,500.”
"Unpaid internships also can have a negative impact on the labor market, particularly in times of recession. When jobs are scarce, students may flock to unpaid internships in hopes of transitioning to full-time paid work. That increased supply of free labor can displace full-time workers and increase unemployment, further contributing to the weak economy."
What You Can Do
