Anina
What's more cost effective- minimum wage in an area with low cost of living, or an internship in a high cost area?
I'm trying to figure out what to do with my summer, with the knowledge that I have to pay for my own housing and all my living expenses. I'm a college freshman, so the internship probably wouldn't pay me too much more than a regular minimum wage job. Another possible option would be to stay in college as a summer RA, which would cover my room and board, and also give me $200/week. #finance #internships #money #summer-jobs
4 answers
Paul Gullatte
Paul’s Answer
In my opinion, the RA is your best choice. I believe internships are only offered to juniors and seniors so if you are only a freshman you wouldn't be able to apply anyway. In addition, if you are going to be responsible for 100% of your living expenses, you need all the help you can get.
Keith Martin
Keith’s Answer
Keep in mind that the goal of an internship is gain experience in your field of interest. That will be valuable to you long term, while a minimum wage job is typically just that. Depending on the position, some companies will provide subsidized housing for interns, or your school may offer on-campus housing during the summer.
Dawnyale Oliver, MBA, PHR
Dawnyale’s Answer
I would do some research into the internships in the areas you're interested in. Internships not only allow you to get real-world experience in a desired field, they also allow you the ability to network with industry professionals from all over the world. In my opinions, the more internship experience you get, the better your long-term career prospects will be.
Brian Cunkelman
Brian’s Answer
I have found that most internships can pay more than minimum wage. Remember the goal of an internship is to learn about a potential career choice you will make. I would suggest looking for an internship that will benefit you more than just making money for the summer. Think longer term....