Let's stipulate that there is a CS student profile that clearly would not be interested in an unpaid internship, and move on from that rathole.
This thread has already produced one apparent example of a high-profile internship that pays less than $20/hr: Joel Spolsky's Fog Creek. I could name three well-known companies in my space that also pay less than that. I believe you that there are lots of internships that pay $20+/hr, but $20/hr is still pretty far from $5k/mo.
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Let's stipulate that there is a CS student profile that clearly would not be interested in an unpaid internship, and move on from that rathole.
This thread has already produced one apparent example of a high-profile internship that pays less than $20/hr: Joel Spolsky's Fog Creek. I could name three well-known companies in my space that also pay less than that. I believe you that there are lots of internships that pay $20+/hr, but $20/hr is still pretty far from $5k/mo.
> pays less than $20/hr: Joel Spolsky's Fog Creek.
$750/40 = $18.75
plus
free meals =~ $100/week, so now we're up to $21.25 an hour
plus
free nyc housing =~ $200/week, so now we're up to $25.25 an hour.
That's a good point.