Intern Policy Benchmark
A “best practice” policy description, such as presented in this benchmark, should be utilized as a guideline and promote discussion around the establishment or modification of a policy or policies. The term “best practice” must be taken figuratively, since a benefit or procedure is only best for an individual company if it is compatible with the company’s culture, business objectives and financial objectives. Otherwise, it is merely a practice that can be considered standard, typical or common.
Benefit
Repayment Requirement
Company A
Company B
Company C
Company D
Company E
Company F
Company G
Company H
Rideshare company
American investor-owned public utility company
Multinational aerospace corporation
American scientific research company
Global technology and specialty materials company
Cloud computing and virtualization software company
Multinational electrical equipment corporation
Real estate investment trust company
YES
YES
YES
YES
YES
NO
YES
YES
January 2020. © Altair Global
Benefit
Company A
Company B
Company C
Company D
Company E
Company F
Company G
Company H
Rideshare company
American investor-owned public utility company
Multinational aerospace corporation
American scientific research company
Global technology and specialty materials company
Cloud computing and virtualization software company
Multinational electrical equipment corporation
Real estate investment trust company
Customized lump sum includes: • Travel o Round-trip mileage for 1 auto o Lodging o Meals Reimbursement • Housing Housing of certain o Furnished expense Lump Sum / miscellaneous housing provided; allowance of Misc. expenses up to $1,500, grossed OR Expenses a maximum of o $3,500 allowance up. U.S. $500. (for 3-month internship) • Shipment of personal items o Shipping allowance of $300
Temporary Living
N/A
N/A
N/A
N/A
N/A
Lump Sum to cover all expenses except housing (grossed-up): • 50 – 250 miles: $500 • 251 – 250 miles: $750 • 501 miles or greater: $1,000
N/A
N/A
N/A
Tax-assisted allowance to be used for travel and housing costs: • $1,200 if distance from current location to assignment location is 50 – 300 miles • $1,500 if distance is 301 – 700 miles • $2,000 if distance is 701+ miles
N/A
N/A
Included in Housing Stipend.
January 2020. © Altair Global
Benefit
Company A
Company B
Company C
Company D
Company E
Company F
Company G
Company H
Rideshare company
American investor-owned public utility company
Multinational aerospace corporation
American scientific research company
Global technology and specialty materials company
Cloud computing and virtualization software company
Multinational electrical equipment corporation
Real estate investment trust company
If furnished housing not provided, housing expenses included in Lump Sum.
Company provides a onetime housing allowance, based on the location and length of the intern assignment.
Housing costs reimbursed at 50% of the actual rent costs, up to a maximum of $750, prorated from the first day of the internship to the last day of the internship. Intern is responsible for any security deposits and utilities cost.
Internship Monthly Assignment stipend to Housing* assist with housing costs during the internship.
Considered part of Lump Sum.
Considered Intern choice part of Lump of: Sum. • Housing arranged directly by third-party provider; OR • Lump Sum payment based on location
One-time Housing Stipend to assist with expenses related to: • Locating work-site housing • Local transportation • On-going housing expenses while on assignment
January 2020. © Altair Global
Benefit
Company A
Company B
Company C
Company D
Company E
Company F
Company G
Company H
Rideshare company
American investor-owned public utility company
Multinational aerospace corporation
American scientific research company
Global technology and specialty materials company
Cloud computing and virtualization software company
Multinational electrical equipment corporation
Real estate investment trust company
Reasonable expenses for employee; airfare if move is over 400 miles; mileage Transportation reimbursed at the current to and IRS rate for from Intern moves under Assignment 400 miles; one night’s Location lodging prior to departure, en route, and one night’s expenses at destination upon arrival.
YES
Considered part of Lump Sum.
YES
YES
NO
YES
YES
Shipment of Personal Effects
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Rental Tour
N/A
N/A
N/A
N/A
Access to online housing assistance.
N/A
N/A
N/A
Gross-up / Tax Assistance
Provided
Provided
Provided
Provided
Provided
Provided
Provided
Provided
January 2020. © Altair Global
*It is recommended that assistance be provided in regard to locating suitable lodging only for the intern. However, providing assistance with locating a roommate for the intern is not advisable due to liability issues. If the intern wishes to secure a roommate, best practice is to have the intern make their own personal arrangements separate from the company and the relocation provider.
Taxation of Intern Programs All reimbursements to interns and payments made by a company on behalf of interns must be included in gross income as compensation. As compensation, the reimbursements must be included in the intern’s W-2 and are subject to withholding for income and payroll taxes. Intern expenses do not constitute “business travel expenses while away from home.” An intern’s “home” for purposes of away-from-home travel expenses is considered as being located where the job location is – even if the intern continues to maintain a school or other-located residence during the internship. Any travel reimbursement should be included in the intern’s total compensation on Form W-2.
January 2020. © Altair Global