When An Unpaid Internship Is Worth It & When It Really Isn¡¯t

'You need experience to get experience': This seems to be the harsh reality of most young adults looking to transition into the workforce.

Employers have always relied on resumes that showcase an extravagant work history, volunteer work and A LOT of internships. And that gives internships this incredible power because they are the building blocks of a successful career.

Since employers know this and also are well aware of how millions of students will compete for very few internships, they usually give out unpaid internships, because if there are so many people willing to work for free, why bother shelling out cash, right?

Wrong, because in order to accept an unpaid internship, the student needs to be in a position of financial security, putting wealthy people at an advantage. That's why, we prepared this guide that will help you decide whether an unpaid internship deserves you or it doesn't.

Worth it: When the internship really teaches you something of value.

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Time is the world's most valuable currency. If you are giving your time at an unpaid internship, then it really has to be worth your money. The internship should give you something much more concrete than a certificate of successful completion. For instance, if it's an editorial internship- are you walking out of that office with a published article? If it's a finance internship, are you walking out with skills that will help you earn your next gig? The answer to all of these questions should be a firm yes and only then will an unpaid internship be worth it.

Not worth it: If the only thing you are walking away with is prestige.

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I have never been able to understand why the most reputed and rich companies roll out unpaid internships. Considering they can easily afford to pay you a stipend. But if the only great thing coming out of an unpaid internship with a big and established company is the name tag then it really really isn't worth your time. Instead, intern at a smaller company, learn the skills, get involved in processes and then come work at a big company. Best of both worlds is such a delight.

Worth it: Exposure to the inner workings of how your company REALLY functions.

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You need to have a certain level of exposure to a few elements of the company functions. How does your department arrive at decisions? What skills matter the most to your boss or mentors? Seeing and understanding what a company cares about and getting involved in that process will make you a hugely successful candidate whether in that company or the industry at large. Also, pick up skills that make you a great team member.

Not worth it: When you are not given enough opportunities to really get involved in processes.

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You did not spend a bomb on your education to serve coffee. You did not dedicate hours volunteering for running mundane everyday managerial tasks. In no way am I trying to say these tasks aren't important, but, the focus should be on learning something a book or an online course tutorial can't teach you. Only then is an unpaid internship worth it.

Worth it: When the internship can translate into a full time position.

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Most employers give out internships only when they think you have the potential to fit into their organization and add in value. Internships have the power to convert into a full time position but that is never guaranteed. So if you feel this is the kind of work you would love to do every single day for at least the coming year, intern there and see if it lives up to your expectations.

Not worth it: If the working hours are too demanding.

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My biggest problem with unpaid internships has been how people who are privileged enough to be blessed with financial security, can take up unpaid internships in big companies and get quite a significant advantage. So most of us would have to resort to interning without being paid but earning enough through side gigs to survive. So if your internship requires 40-50 hour per week commitment, then it doesn't really make sense, unless all the reasons stated above make it seem worth it.

Worth it: The internship should carry the probability of changing your life.

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Not every internship will change your life. But every internship should carry the potential to change your life. During your internship, if you meet someone who you believe you can learn a lot from and can prove to be a real mentor, then that's a win. If your internship provides you greater clarity about the industry you want to be a part of, then that's potentially life changing. If this internship equips you with all the skills and experience required to kill it at work, then that;s even better than a paid opportunity.