It is very flexible and is definitely not etched in stone. Graduate level internships are generally paid positions. The employer sets the pay range. Hiring graduate students is very different than hiring undergraduates. MBA s usually have valuable prior experience and are more mature.
Most employers offer highly competitive salaries to lure the best talent before they graduate.
Regardless, the salary should be fair according to the expectations and responsibilities of the position. Many students will consider an unpaid internship depending on the level of responsibility and opportunity to contribute and learn. Decrease the competitive nature of the hiring process by identifying good quality candidates early when no commitment has to be made either way. When you hire an intern, you are not hiring a stranger. You ll know the intern had good work ethics, familiarity with your organization and great qualifications.