Stipends

Stipends refer to a fixed sum of money paid regularly, often as a form of compensation for a specific service or role. Unlike salaries, stipends are frequently associated with part-time work, apprenticeships, fellowships, or volunteer positions, and may not be a primary source of income. They are designed to cover expenses incurred while undertaking a particular task or commitment, and can vary significantly in amount depending on the nature and duration of the work. stipends are not typically tied to performance metrics in the same way salaries might be, focusing more on the time commitment and responsibilities assumed. They often serve as an incentive to encourage participation in certain programs or projects.

Stipends meaning with examples

• The research assistant was provided with a generous stipend to cover their living expenses and research-related costs during their graduate studies. This ensured they could focus solely on their academic pursuits without financial strain. The university believed that the stipend was essential to attracting and retaining top talent.
• Aspiring artists applying for the residency program were enticed by the prospect of a stipend, which would cover their accommodation, studio space, and materials. This financial support allowed them to dedicate themselves entirely to their creative endeavors, fostering innovation and artistic growth. This was crucial for the success of the program.
• Volunteers working for the non-profit organization received a small stipend to compensate them for their travel expenses and incidental costs. This allowed the organization to appreciate the volunteers while ensuring that the volunteers weren't financially burdened by their commitment to helping.
• Interns at the law firm were provided a stipend in addition to valuable work experience. The stipend covered transport and meals, making the internship accessible to students from diverse backgrounds. The firm understood the value of compensating their interns.
• The grant program offered stipends to support teachers pursuing advanced degrees in education. These stipends allowed educators to gain further skills and knowledge, without having to take on further debt while they pursued their careers.