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A fixed and regular payment, such as a salary for offered services or an allowance. It is commonly used when referred to the payment received for an internship or apprenticeship. It is also known as compensation.

Many stipends are offered to students to help them pay the costs of housing, food, and transportation, and it is not necessarily based on worked performed or hours worked. Therefore, they are usually lower that what would be expected from a salary for similar work, because it comes with complementary benefits, such as experience, instruction, recognition, etc. The advantage of a stipend is that it allows an individual to pursue work that is normally unpaid by helping doff set living expenses. Sometimes, stipends are used by non-profits organizations, organizations working with oppressed or other less represented groups. They usually stipend youth at a higher rate than local minimum wage rates to empower them to enter the workforce but it usually lasts for less than a year.