The United States Securities and Exchange Commission (SEC) is now accepting students seeking internships for its Scholars Program for Fall 2023 starting at $15.09 an hour.
The SEC is seeking “student trainees” for its business and legal programs, with the business program traineeship at its Washington D.C. headquarters paying between $15.09 and $28.83 per hour.
The lowest rate range posted for the business program is less than the current minimum wage in Washington, D.C., which is $16.10.
The majority of U.S. businesses are not legally required to pay interns if the employment relationship meets the “principal beneficiary test” established by the Fair Labor Standards Act.
The SEC’s legal program pays more generously, with advertised rates between $23.47 and $35.27 per hour for both its regional and Washington D.C. offices.
Current undergraduate and graduate students are invited to participate in 10-week internships beginning on August 28 and concluding on November 3.
According to the job advertisement, these programs are available in other U.S. states for the regulator’s regional offices in areas such as California, Colorado, Florida, and Georgia.
Applicants must indicate the lowest pay grade they are willing to take for the post as part of their application.
The posting stated that the SEC is seeking candidates with backgrounds in blockchain, distributed ledger technology, computer science, and cybersecurity, among many other subjects.
In May of last year, the SEC roughly doubled the size of its cyber team. The unit consists of “crypto assets” and “cyber” subdivisions, which oversee the sectors and help choose where to take enforcement proceedings.
Applicants have till April 3 to submit their applications for the internship.