/ Asked by Nathalie
I'm a college student who has been looking for either a paid summer internship or job. I interviewed for this internship and they list their payment as a stipend. She made a point to mention that in the interview. What is a stipend? How is that different from wages? This internship is done remotely so I was just confused on how they work, b/c it's not like I'd need to cover travel expenses.
Answered by Makailyn, Hiring Expert at Textron Inc., on Monday, April 23, 2018
A stipend is a fixed regular sum that they will pay you for the work that you will be completing. It's hard to speak to your situation without having all of the information in front of me, but the difference here is that you would receive one sum for the work you complete instead of being paid hourly. If you were being paid hourly, you would have a hourly rate which then you would report your hours and usually get paid biweekly for the amount you worked the previous two weeks. With the stipend, you get paid the same whether you work 10 hours or 40 hours. One thing that is important to remember is that taxes will be applied/taken out of your stipend. If you have questions regarding your situation specifically, I would recommend reaching out to your recruiter from the company you are interviewing with. They should be understanding that you may need more clarification and have all of the answers you need to make the decision that is best for you! Good luck!
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