Project Management Intern Salary
As a project management intern, you are gaining practical experience while still being in the learning phase. While many interns are willing to work unpaid to gain experience, paid internships are an added incentive for students to learn while still earning some money. However, negotiation for a higher stipend can be challenging without prior experience or a reference point. In this guide, we will explore the factors that determine an intern’s value and tips to negotiate for a higher project management intern salary.
Understanding the Value of a Project Management Intern
A project management intern adds value to the organization by assisting in project management tasks, analyzing data, and providing project support. Therefore, the intern’s value can be assessed based on the following factors:
Experience and Education
The level of experience and education the intern has and the related qualifications increases their value. Certifications in project management are an added advantage that can enhance an intern’s value.
Specific Skills
Depending on the project requirements, certain skills might be necessary to complete the tasks. An intern with additional skills such as data analytics, coding, and software management can be valuable to the organization.
Work Duration
The duration of the internship determines the workload and the project deliverable timeframe. An intern working for a shorter duration can have more responsibility and strict deadlines, leading to a higher stipend than that of a longer duration intern.
Projected Outcomes
The intern’s contribution to the project can directly impact the project’s success. An intern with a direct contribution to the project’s critical success factor has a higher value than other interns.
Tips to Negotiate for a Higher Project Management Intern Salary
Knowing the value of an intern is the first step in negotiating for a higher salary. Here are some tips to help you stand out from the crowd and negotiate for a better stipend.
1. Research the Industry and Company
Before attending the interview, research the industry and the company to have an idea of the general stipend for an intern in the field. Websites such as Glassdoor, Payscale, and Salary.com provide accurate and reliable data on the market rates and the average stipend of an intern in the project management field. Company websites, job requirements, and internships on the job board can give you a good insight into the organization’s requirement, expectations, and stipend policy.
2. State your Skills and Accomplishments
Identify your valuable skills and what you bring to the organization as an intern. Outline your achievements, educational background, and how you have used your project management knowledge and skills to influence past successes. Share with the hiring manager how your previous accomplishments demonstrate your capability to achieve similar or higher outcomes in the future project. Mentioning your past experience can showcase your ability to contribute meaningfully to the project and set you apart from other interns.
3. Be Specific in Your Requirements
When negotiating your intern’s salary, be specific about your requirements. Don’t generalize your expectations. Instead, quantify your needs as an intern. Be clear about your expectation on the amount you deem fit for the skills and knowledge you possess. This will show your knowledge and confidence in your skills, and that you are aware of your value to the company.
4. Negotiate Beyond Salary
Salary may not be the only area to negotiate for an intern in project management. As an intern, you can negotiate for other benefits such as flexible hours, vacation days, remote work, professional development courses, and mentorship opportunities. Discuss how the company can help you improve your skills and further your career, and how that can translate into a better stipend.
5. Be Flexible and Open-minded
Flexibility and Open-mindedness are essential traits to have while negotiating. Have an open mind and be willing to negotiate beyond your preferred outcome. When negotiating, acknowledge the company’s position and be willing to make concessions that can be advantageous to both parties. Also, consider non-monetary benefits as an option to compensate for the salary difference.
Conclusion
Negotiating for a higher project management intern salary requires preparation, research, confidence, and high-level communication skills. You must know your worth, what you bring to the table, and how it benefits the company. The above tips will help you negotiate effectively for a better stipend, flexible work hours, or professional growth opportunities. Remember, a successful negotiation is a win-win situation for both parties. As you begin your journey, use this guide to negotiate with confidence and advocate for your value.