And a lot of these companies have free food.
let's not pretend it is merely a coffee budget. many people survive in Bay Area on less.
Also, internship is probably gonna be remote.
Even remote interns need to live somewhere and rent isn't cheap. On the other hand, interns might be ok with sharing a 2bd apt with 3 roommates and paying only 600 for rent and bills. That would leave them almost 2000 a month. Not bad for a 20 yo seeking independence, but humiliating for a 25 yo and a complete failure for a 30 yo.
If Lyft is open to hiring interns from abroad (unlikely) and pay them the same 4800 (very unlikely), then just 500 would get them a very decent 2bd apt. In countries like India, they would be borderline rich with this kind of money.
I was truly taken aback by how out of touch this comment is. A 50% cut to a $9600 monthly salary is $4800, or $57,600 annually. This is above median US household income, and close to double median personal income. It's not "humiliating" or "a complete failure" by any stretch of the imagination.
Personally, nothing to complain about, you get practical experience and getting paid amazingly well.
> unlike many others whose internships were canceled
4800 is indeed a good chunk of change compared to 0
I agree that this is an unfortunate turn of events — and I would be sad to be in your position.
To add a bit more context:
• we just parted ways with 23% of our staff (layoff + furlough) this week.
• remaining team members are taking a 3 month 10% cut in base salary.
• unlike many companies, we're still conducting our internship program — so it's good that you at least have the option to continue with your internship, unlike many others whose internships were canceled.
At $9600 per month, Lyft had one of the highest salaries for an internship; $4800 per month is still a decent chunk of change, particularly as you don't have to be in Seattle, NYC, or San Francisco anymore.
If you have other options, I think everyone would understand if you chose to pursue those instead. If not or if you choose to join us anyway, having an internship at Lyft can lead to a full-time offer and/or make you more competitive when applying for full-time jobs in the future.
The real value of an internship is more-so in giving you practical experience rather than the compensation.