Stipends aren't intended to replace regular wages, and therefore their amounts may be quite low—just enough to cover certain costs. Generally, a stipend is designed to be used for expenses related to travel, housing, and food. Stipends are usually predetermined, fixed amounts, and listed in policies put in place by schools, training programs, or companies providing training to employees.
They may be paid periodically, such as weekly or monthly, or in a lump sum. Generally, stipends are paid for the following:. Therefore, you'll often see interns, apprentices, and trainees receive a stipend to cover living expenses while they are in training.
Clergy may receive a stipend so that they don't have to take on an additional job to cover their costs. Sometimes, stipends also may be offered to encourage certain activities. For instance, academic institutions may offer stipends that work like grants, to create incentives for researchers to further their work on certain projects, such as writing books and scholarly articles, translating works, or interpreting and analyzing collected data.
Some schools offer stipends to help with specific added expenses, such as a computer or other necessary equipment. Similarly, some employers offer employees a stipend in addition to their regular pay, to cover some or all of the costs of specific things such as health insurance , a gym membership, or continuing education for career development.
Sometimes companies offer stipends to help an employee cover business expenses such as meals for clients. If employers plan to offer interns a stipend instead of an hourly wage, they should include that information on the advertisement for the internship and reiterate it during the interview.
Discuss these Modest definitions with the community: 0 Comments. Notify me of new comments via email. Cancel Report. Create a new account. Log In. Powered by CITE. Are we missing a good definition for Modest? Don't keep it to yourself Submit Definition. The ASL fingerspelling provided here is most commonly used for proper names of people and places; it is also used in some languages for concepts for which no sign is available at that moment.
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Two clicks install ». Quiz Are you a words master? Stipends are often provided to people who are ineligible to receive a regular salary in exchange for the duties they perform. A stipend is nothing but a payment made to a trainee or a person — who is a learner — for living expenses. It is unlike a salary or wages which an employer pays to an employee. This amount paid is generally small, lower than a salary paid. Because stipends are awards and not wages for services, Social Security and Medicare taxes are not withheld.
Stipends are still considered taxable income, though. Per Diem Definition Term Definition. Per Diem refers to the daily stipend an employee receives to cover travel expenses in addition to salary and wages.
Extended Definition. A stipend is defined as a fixed sum of money paid periodically for services or to defray expenses.
Wages are generally subject to employment taxes and should be reported on Form W-2, Wage and Tax Statement. Examples of modest salary. Definition of modest Definition of salary Other collocations with salary. Sign up for free and get access to exclusive content:. Free word lists and quizzes from Cambridge. Tools to create your own word lists and quizzes.
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