How to Negotiate Your Internship Stipend (Yes, You Can!)

The idea of negotiating your internship stipend can be intimidating. Many students worry about seeming greedy or jeopardizing their offer. But with the right approach, you can professionally and respectfully negotiate for a stipend that reflects your value. Here’s how.

1. Know Your Worth: Do Your Research

Knowledge is power in any negotiation. Before you even think about negotiating, you need to understand the market rate for your role, industry, and location.

• Use Online Resources: Websites like Glassdoor, Levels.fyi, and Built In provide salary data for various roles and companies. Look for internship-specific data.
• Talk to People: Reach out to other students who have had similar internships. Ask your university’s career services for any data they might have.

2. Timing is Everything

The best time to negotiate is after you have a written offer in hand, but before you have accepted it. This is when you have the most leverage.

3. Build Your Case

You need to justify why you deserve a higher stipend. This isn’t about what you want; it’s about what you’re worth.

• Highlight Your Skills and Experience: Point to specific skills or experiences you have that are particularly relevant to the role. Do you have a previous internship, a complex project, or a specific certification that makes you a stronger candidate?
• Consider Other Offers: If you have a competing offer with a higher stipend, you can use it as leverage. However, do this tactfully. You don’t want to sound like you’re issuing an ultimatum.

4. The Conversation: Be Professional and Gracious

How you communicate is just as important as what you communicate.

• Express Enthusiasm: Start by reiterating your excitement for the opportunity.
• State Your Case Calmly and Confidently: Present your research and the reasons why you believe a higher stipend is warranted.
• Be Specific: Instead of saying “I’d like more,” say something like, “Based on my research of similar roles in this area and my experience with [specific skill], I was hoping for a stipend closer to [specific number or range].”
• Be Prepared for a “No”: The company may not have the budget to increase your stipend. Be prepared to accept the original offer gracefully if you still want the internship.

5. Consider Negotiating Beyond the Stipend

If the company can’t budge on the stipend, consider other forms of compensation.

• Housing or Transportation Stipend: This can be especially valuable if you’re relocating for the internship.
• A Professional Development Budget: Ask if they would be willing to pay for an online course or a conference ticket.
• A More Impactful Project: If money is off the table, ask for the opportunity to work on a project that will give you more valuable experience.

Conclusion

Negotiating your internship stipend is a valuable skill that will serve you throughout your career. Even if you’re unsuccessful, the experience of advocating for yourself is a win. Remember to be professional, do your research, and know your worth. You might be surprised at the outcome.