Anonymous
I am thinking of starting out to pay my first full-time intern $400/mth due to budget concerns. Is that an okay amount to start with?
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Rachel Yeo
13 Sep 2019
Content Strategist at Seedly
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Kenneth Lou
13 Sep 2019
Co-founder at Seedly
This is a good question and I will reply from Seedly and ShopBack perspective.!
I think it really depends on the stage of company as a startup? :)
Last time we started with $600 a month (without CPF) but now, with more structure and processes, we pay between $800 to $1,200 for interns. Depending if they are interns who are still studying in University/Poly/After Army Or if they are a graduate intern.
And the interns in Seedly and ShopBack actually get alot of welfare also, Team bonding meals, activities, a full pantry, OT claims for food and cab ride home, Health checkup (yearly) and occasional Friday lunches. (so lucky these kids nowadays) haha!
Overall, its about learning opportunities and leveling up as fast as possible. We find that most interns pick things up very quickly and can also perform at a level of a full-timer, which is expected, because we don't actually segment or treat anyone different just because of the current employment status. You'll actually find some of them hanging around here and many who have been in the past as well.
In my mind, $400 a month is definitely on the low side and can be quite difficult for the intern to get by. Keep in mind, if this is a freelance/part time intern it could still work out.
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Hello! Having interned previously in start-ups, I would say that on average, companies pay $600-$1000/mth for interns! I've done internships with real early stage start-ups that paid $600/mth and I personally felt that it was rather low.
With your budget, maybe you can consider hiring part time interns, who can work from home/ come down to the office twice a week, for example. This way you'll get some help and still work within your budget! :)