Student interns should get paid, say financial services professional

Fri, 20 May 2011

An overwhelming majority of financial services professionals believe it is unfair not to pay students who undertake an internship in the industry.

A survey by the Chartered Institute for Securities and Investment (CISI) found that 97 per cent of financial services practitioners believe that employers should pay interns.

Over half of respondents (56 per cent) said remuneration should consist of out of pocket expenses and modest pay. A further 28 per cent said modest pay was appropriate while 13 per cent favoured the payment of expenses only.

Just three per cent felt internships should be unpaid.

One respondent commented: "Certain students can ill afford to take low/unpaid work as they have to provide for themselves."

While another added that "unpaid internships are exploitative and should be banned".

It follows a recent study by talent management firm SHL which found that 60 per cent of those who graduated in the last three years have yet to find a graduate-level job . 
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