The Murky Ethics (and Crystal-Clear Economics) of the Unpaid Internship

Derek Thompson:

My name is Derek, and I was an unpaid intern.

I begin with a confession, because the unpaid internship has become something of a dishonor, if not a scandal. And, as New York Times reporter Steven Greenhouse wrote in his blockbuster take-down of the institution in 2010, I might have helped various companies conspire to break the law -- even if it's the murkiest, most broken law in the country.

Of the 10 million students at four-year colleges in the U.S., more than 75% have at least one internship before graduating. We don't know how many of those internships are unpaid, but Ross Perlin, the author of Intern Nation, estimates that it's up to one-third. "It's the only major category of work that I know of that is not tracked at all by the Bureau of Labor Statistics," Perlin said.

Posted by Jim Zellmer at May 13, 2012 1:44 AM
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