College students who want to intern with the Securities and Exchange Commission (SEC) in the fall of 2023 are in luck: the SEC has launched applications for its Scholars Program. The SEC is looking for “student trainees” for its business and legal programs, with the business program paying between $15.09 and $28.83 per hour for a traineeship at its headquarters in Washington, D.C.
The lowest level of the rate stated for the business program is less than the current minimum wage of $16.10 in Washington, D.C.
Nevertheless, most businesses in the United States are not legally required to pay interns if the employment connection meets the “principal beneficiary test” outlined in the Fair Labor Standards Act. The SEC’s legal program likewise pays more generously, with rates advertised ranging from $23.47 to $35.27 per hour for both its regional and Washington, D.C. offices.
The programs seek current undergraduate and graduate students to engage in 10-week internships beginning on August 28 and ending on November 3.
According to job advertising, these programs are available in additional U.S. states for the regulator’s regional offices in California, Colorado, Florida, and Georgia.
Applicants must specify the lowest pay grade they are prepared to take for the post as part of their application.
According to the job description, the SEC is searching for someone who have studied blockchain, distributed ledger technology, computer science, or cybersecurity, among other things.
The SEC substantially doubled the size of its Cyber Unit in May of last year. The unit is divided into “Crypto Assets” and “Cyber” departments, which look into the listed areas and help decide where to take enforcement action.