internships with housing
Housing is the biggest expense for most people.
Housing is the biggest expense for most people. In fact, for many of us, housing costs more than any other single thing we spend money on. If you’re an employer and you want to make your company a top choice for interns, providing housing may be a cheap way to attract the best and brightest.
It’s tough to find a job in a new city.
It’s tough to find a job in a new city. It’s even tougher when you don’t know anybody who can help you out. This is the perfect time to put your networking skills to use! Even if it doesn’t lead to an internship, you’ll make some good contacts in case you get hired by someone later. Don’t be shy about asking for advice and recommendations from people you meet on the way, as well as from your professors or supervisors at your current job. A simple LinkedIn message could go further than one might expect—it never hurts to try asking for help!
When looking for internships, consider those that offer housing instead of a stipend or hourly wage. Housing is often the largest expense when moving somewhere new, so staying with an employer will keep this cost down and help you save money overall. Most companies that offer internships with housing provide living arrangements close by so they can easily transport their interns back and forth between work/school sites during their stay (as long as it’s within walking distance).
Most interns work in major metropolitan areas, but housing is insanely expensive there.
Still, many interns do need help with housing. Most internships are located in major metropolitan areas, and cities like New York, Los Angeles, and Miami have a reputation for being expensive (and they are). But even outside of the biggest cities, rents are rising faster than incomes. In fact, San Francisco has the highest rents in the country.
Housing costs can be especially burdensome if you’re an intern because most interns are young and new to their careers. They’re not yet making a ton of money (some aren’t being paid at all), which means housing costs can significantly cut into their budget. If you’re looking to save money while living in a big city or expensive area, chances are an internship isn’t the best way to do it because the job market is so tough there already that it’s hard enough just to find work—much less find work that also comes with free housing.
Employers should provide housing to their interns because it’s a huge expense.
Interns are young, and that means they’re often broke. This can be an issue for employers who are looking to hire, since students and recent grads applying for internships might not be able to afford housing. If a company with a great internship program doesn’t provide housing, it will have trouble finding applicants willing or able to take the job.
If you’re able to offer free or reduced-cost housing, it’s worth doing—it’ll give you access to the best candidates and make life easier for your interns.
Providing housing can be a cheap way to attract talented interns.
Providing housing can be a cheap way to attract talented interns, and it might even give you an edge over other employers who don’t offer it. Here are 5 reasons why:
- It helps you recruit better interns – Recruiting the right interns is all about making your organization stand out in a sea of competition. Offering housing helps your internship stand apart from others on the market. This will increase your chances of attracting better candidates, which could ultimately lead to having more qualified applicants and top-notch talent at your company.
- It helps you attract more qualified interns – If offering housing allows your program to stand out among competitors, quality candidates are sure to notice that too. And they’ll want to come work for you because they know they won’t have any issues with finding affordable housing while they’re living in an expensive city like New York or San Francisco!
- It helps you retain interns – Yes, providing free or low-cost intern housing also makes it easier for them to stay with their employer longer than if there was no such perk available at all! This means more time on the job experience for them (and less time wasted looking for apartments), which translates into higher retention rates overall since these new employees have already been trained before starting full time positions when hired from those same programs after graduation day comes around again soon enough!
Companies should provide housing to their interns
Companies should provide housing to their interns. There are many ways in which companies can do this, from offering employees’ and managers’ empty houses as low-cost housing for interns to subsidizing the cost of renting for the summer, or even just providing a stipend for affordable rent. This is something many companies already do, such as Google and Facebook. If you’re worried about how much this would cost your company, let’s take a look at an example:
For 200 interns each year, the total costs are:
- $30 per day per intern = $2100 per month per intern
- Each intern works 4 months each year
- The total annual cost is $2,100 x 4 months x 200 people = $1.68 million dollars