How much do you pay your interns?

[KELLY HIGGINS]

I am considering hiring a new intern, but I am not sure how much to pay them? I know how time consuming it can be and it is a long term comm :? itment. Consideration has to also be given the fact that if you don't retain the intern after they become licensed, you are training your competition. I would like some input on how other appraiser's handle this.

 

[George Hatch]

You pay interns?

 

[George Hatch]

Just kidding... :twisted:

 

[Lysander in Charlotte]

Here in NC an internship last for 300 appraisals and 2 years, whichever comes last. I was paid 45% for the entire period. In retrospect I think that perhaps I was overpaid for the first 100 and underpaid for the last 100. I had a good mentor who really earned his supervisory money in the beginning. Later, he got some easy money. I'd recommend a split plan with some steps during the internship.

Lysander

 

[ccooper]

There is nothing wrong with explaining to your "potential" new intern that you are very concerned about training them and then leaving. I have trained three and all are still here. I made it very clear in the beginning that when I spent 10 hours teaching them how to appraise one house (when I may be able to get it done alone in 2-3) that it was a long term investment in them. I am not an appraisal college and if I were, then the intern should be paying me.

 

[Dave Smith]

Interns shouldn't be paid. They should pay tuition like any other student. Interns, like students, can be HELL on the instructor and the instructor's time. Teaching is HARD work. The instructor's income goes down due to the drop in his/her productivity and then the intern wants money besides.

I've been there and done that... three times! My wife has specific instructions to shoot me dead with my own gun if I ever utter the word intern in her presence again. Quoth the raven "Nevermore!":mrgreen:

 

[Charlotte Dixon]

50/50......but, they're my children :lol: Extra bennies for them, are free lunches, afternoon snacks, and use of the couch to take a nap after lots of travel. Sometimes I spray polish their shoes, because mothers know that "shoes make the man, or lady".....In exchange, they will NEVER, and I mean NEVER sass me, defy me, or report me to the labor board

 

[Charlotte Dixon]

I lied. Actually, I only take $25 out of each appraisal that they do.

 

[Charlotte Dixon]

And, for the record, after that $25 is taken out, I take out taxes because they are employees here. :wink:

 

[Randy Beigh]

Kelly

Must have different terminology in different areas of the country. To me, an intern is someone that is attending school, like college, and working, generally for free, but receiving credit hours.

I do hire trainees from time to time. This office is employee based and we pay the taxes and provide an office as well as all the equipment. They start out getting 30% of the fee and work up to 50% after licensing.

Hope this helps.