Stipend

What is Stipend?

The term Stipend refers to the nominal sum of the amount paid to individuals who are not regular employees like interns and trainees. A stipend is a fixed amount rather than an hourly wage or salary. It is offered to the individuals to help them cover their basic expenses while they receive their internship.

During their internships, they gain knowledge and enhance their skills by working on projects of the company they are interning with. How often stipends are paid depends on the different companies. Stipends can be paid hourly, weekly, monthly, and annually. However, most often stipends are paid annually as they are considered the form of supporting an individual’s needs.

Also, See: Basic Salary | Incentive Pay