Top 7 Stipend-Based Internships for College Students

Are you wondering how to gain real-world experience in the career you are pursuing? Well, internships are the best way to hone your skills and prepare yourself for full-time job roles. By interning with an organisation, you gain hands-on experience in the industry and learn what your daily responsibilities may look like. You also learn about company culture, which plays a big part in shaping your overall job satisfaction and career growth.

Understanding how teams collaborate, the expectations in a corporate setting, and the soft skills required to thrive in the workplace can make you more prepared. But wait! Why work for free? If you invest your time, effort and expertise in achieving results, you must be paid well. If you are studying at a university, then go for stipend-based internships that not only provide valuable industry experience but also become a source of earnings.

In this blog, we will discuss the top 7 stipend-based internships for college students that can be your best short-term work experience.

But first,

What is an Internship?

Internships are short-term opportunities that offer entry-level work experience. These programmes are especially offered to students, final-year students, recent graduates, or early-level professionals. Whether an undergraduate or postgraduate, you can gain hands-on experience and a practical approach to handling real-world problems through these internships.

Many leading global organisations and corporate giants offer internship programmes to candidates for their career advancement. These programmes are tailored to prepare them for full-time employment, enhance their skill sets, and gain industry exposure.

Benefits of Stipend-Based Internships

Let’s discuss the highlighted benefits of stipend-based internships:

• Experience in a real-world setting

• Access to training and mentorship

• Enhanced portfolio

• Corporate skill development

• Professional networking

• Earning a certificate of completion

• Getting paid for work

• Career advancement

• Now that we have understood what an internship is and how it would benefit us, let’s discover a complete list of top stipend-based internships.

Best Stipend-Based Internships

1. Tata Consultancy Services (TCS) Internship

Tata Consultancy Services is an Indian multinational company that is known to deliver IT services and consulting. It is headquartered in Mumbai. It is a part of the Tata Group and has operations in 150 locations across 46 countries.

• Name of the Internship: TCS Research Programme

• Brief About the Programme: The programme is intended for students who work in an industrial R&D environment and want to get corporate exposure. Through this program, the interns get access to industry-scale problems and data. You also get a chance to interact with some of the world’s best researchers.

• Duration: 6 to 8 weeks (short internships) or 16 to 18 weeks (long internships).

• Type: Private

• Eligibility Criteria: Students who are pursuing or have completed a PhD, MS, or MTech, or final year of BE or BTech programmes and have a passion for research in any area of computer science.

Master’s and PhD students from psychology, sociology, economics, mathematics, game design, or organisational behaviour fields can also apply.

• Monthly in-hand Stipend: ₹5,000/- to ₹60,000/-

• Location: Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, & Pune.

2. Reserve Bank of India (RBI) Internship

The Reserve Bank of India is the central banking institution of India. The bank is responsible for ensuring India’s financial system and economic stability. It plays a crucial role in regulating monetary policies, managing currency issuance and overseeing the financial institutions of the country.

• Name of the internship: Research Internship at the Reserve Bank of India

• Brief About the Programme: This research programme is ideal for candidates who want to expose themselves to research in central banking.

• Duration: The internship will be for 6 months; however, it can be extended for another 6 months based on the needs of the unit.

• Type: Government

• Eligibility Criteria: Students must meet the following eligibility criteria to enrol in or pursue this programme:

  1. DSIM: Post Graduate in Statistics / Econometrics / Economics or B.E. / B.Tech. (Computer) or MBA (Finance)

  2. DEPR: Post Graduate in Economics / Banking / Finance or MBA (Finance)

  3. SRU: B.Tech. or B.E. or Post Graduate with quantitative-oriented degrees in Economics / Finance / Statistical Science or those with expertise in Computer or Data Analytics.

  4. ID: Postgraduate degree in Economics / Statistics / Finance / International Finance / International Trade / MBA with specialisation in finance / Banking / International Relations.

• Monthly in-hand Stipend: INR 35,000/-

• Location: Mumbai, India

Infosys is one of the global leaders in next-generation digital services and consulting. The company is headquartered in Bangalore, India, and offers a wide range of services. Infosys is renowned for delivering innovative solutions to its clients and offering cutting-edge technologies for digital transformation.

• Name of the internship: Infosys Instep Internship Programme

• Brief About the Programme: Interns in the Infosys Instep internship programme work on projects related to the latest technologies and innovative business solutions. The programme emphasises professional growth through mentorship and strong networking opportunities.

• Duration: Typically 8 to 12 weeks.

• Type: Private

• Eligibility: Students must meet the following eligibility criteria to enrol in or pursue this programme:

  1. Only undergraduate, postgraduate, or PhD students may apply.

  2. A strong academic record is a must, although specific GPAs may vary.

  3. Computer science (CS), information technology (IT), engineering, business management, or related fields are preferred backgrounds for this internship.

• Monthly In-hand Stipend: Ranges between INR 25,000/- and INR 50,000/-

• Location: Various Infosys offices in India, including Bangalore, Pune, Hyderabad, and Chennai

4. IBM Online Software Developer Internship

IBM (International Business Machines Corporation) is one of the world’s largest IT companies with operations in over 170 countries. It is a global technology leader with a legacy spanning over a century. For decades, it has been contributing to advancements in computer hardware, software, and enterprise solutions. The company has been responsible for several innovations in the fields of AI, cloud computing, data infrastructure, data analytics, and quantum computing.

With a strong focus on research and development, IBM also offers various internship programmes across countries to students and recent graduates. These programmes offer them hands-on experience, skill development, and exposure to innovative industry projects.

• Name of the Internship: Online Software Developer Internship

• Brief About the Programme: The online software developer internship programme is about full-stack developers using AI or AR/XR technology to create a unique and impactful service. During the training, the interns will collaborate closely with software development and design teams to build high-quality products.

• Duration: 6-12 months

• Type: Private

• Eligibility: Students must meet the following eligibility criteria to enrol in or pursue this programme:

• Required Technical Expertise

  • Skillset 1:

    1. Strong understanding of Python programming language

    2. Familiarity with Next JS, Node.js, AngularJS, or React

    3. Interest, willingness, and demonstrated ability to learn new programming languages as necessary

  • Skillset 2:

    1. Unity/unreal

    2. Aframe.js/Three.js/Babylon.js

    3. Python, JavaScript, HTML, and CSS

    4. C#/C++/Python

    5. AR/VR/MR/XR

    6. Good to have knowledge of Java, Node.js, and ReactJS

    7. Knowledge of code versioning tools (such as Git)

    8. Understanding of databases and experience with SQL and Non-SQL Databases like Cloudant or MongoDB

• Monthly In-hand Stipend: Ranges between ₹42,116/- and ₹43,250/-

• Location: Bangalore, Karnataka

5. Reliance Summer Internship Programme

Reliance Industries Limited is a Fortune 500 company and the largest private sector corporation in India. It is involved in diverse industries ranging from polyester and textile to sectors across energy, materials, retail, entertainment, and digital revolution. Under the leadership of Mukesh Ambani, RIL has emerged as a key business player that shapes various industries.

The company has revolutionised digital connectivity in India through telecommunications. It has also made major contributions to the oil and gas industry. RIL offers a range of jobs and internship facilities to students, fresh graduates, and experienced professionals so that they get the necessary industry exposure and valuable practical insights.

• Name of the internship: Reliance Summer Internship Programme

• Brief About the Programme: The Reliance Summer Internship programme is a full-time 2-month learning experience. Students from top engineering colleges and management schools take part in this internship programme. Guided by experienced mentors, in these 2 months the students go through an immersive practical training. The students engage in the induction process, work on challenging projects, visit industrial sites, and participate in many other exciting activities.

• Duration: 2 Months

• Type: Private

• Eligibility: Students must meet the following eligibility criteria:

1. Higher Secondary (12th)

2. an ITI Certificate

3. a Polytechnic Diploma

4. a Bachelor’s Degree such as BA, BSc, B.Com, BCA, BBA, or B.Pharma

• Monthly In-hand Stipend: Ranges between INR 37,692/- and INR 38,892/-

• Location: Mumbai

6. Goldman Sachs Summer Analyst Programme

Goldman Sachs is the second-largest investment bank in the world in terms of revenue and is ranked 55th among the Fortune 500 companies. It is considered an important financial institution by the Financial Stability Board. It offers its services across the board, including investment writing, asset management, prime brokerage, wealth management, and more.

Goldman Sachs also offers high-paying global jobs and valuable internship programmes. These provide students and early professionals with the hands-on experience and the practical foundation to build their skills in the financial industry.

• Name of the Programme: Goldman Sachs Summer Analyst Programme

• Brief About the Programme: The Goldman Sachs Summer Analyst Programme aims to help candidates with the skills and knowledge needed to support different business areas. It is designed to fully immerse you in the role of risk analyst, where you will gain insights about potential risks that could impact a company’s finances, operations and reputation. It also helps the candidates build a professional network for future career steps.

• Duration: Varies between 8 to 10 weeks

• Type: Private

• Eligibility: The internship is eligible for undergraduates and postgraduate students, who are in the final year of their bachelor’s, master’s, MBA or equivalent.

• Monthly In-hand Stipend: Ranges between INR 77,958/- and INR 79,983/-

• Location: Not Specified. (It can be conducted in a few of the major cities of India)

7. Microsoft Software Engineering Internship

Microsoft is an American MNC known for its commitment to continuous innovation, software advancements, and creating user-friendly technologies. It also offers valuable internships to students around the globe so that they closely understand the latest trends.

• Name of the Programme: Microsoft Software Engineering Internship

• Brief About the Programme: The internship aims to provide an opportunity for the trainees to work in teams, solve real-world problems, and build innovative software solutions. As a software engineer, they will learn and adopt relevant new technologies, methods, and tools. They will also apply engineering principles and innovative approaches to solve complex problems and improve their technical skills and problem-solving abilities.

• Duration: 12 Weeks (approx.)

• Type: Private

• Eligibility: Students must meet the following eligibility criteria to enrol in or pursue this programme:

1. The candidate must be pursuing a bachelor’s or a master’s degree in engineering, computer science, or related field.

2. The candidate must have at least one additional quarter/semester of college remaining following the completion of the internship.

3. The candidate should have 1-year programming experience in an object-oriented language.

4. The candidate should have a fundamental understanding of computer science, including data structures and algorithms.

• Monthly In-hand Salary: Ranges between INR 15,000/- to INR 45,000/-

• Location: Multiple locations, namely Hyderabad, Telangana, Bangalore, Karnataka, Noida, U.P

Final Words

There are many global MNCs and government organisations offering stipend internships to college students. These programmes are specially designed to offer industrial exposure, hone an individual’s corporate skills, share core knowledge in specific domains and add to his network.

If you too are an aspiring candidate looking for valuable corporate experience and guidance under an experienced mentor, this list would be quite a help to you. These internships would not only add value to your credibility but would also pay for your efforts. Isn’t that great? So why wait? Enrol in the internship that best suits you.