These college internships pay nearly double what average US employees make
iRelaunch CEO Carol Fishman Cohen on the rise of internships for middle-aged workers.
College students searching for the perfect summer job may want to consider applying for internships instead, especially if they have tech experience.
A handful of tech companies are willing to shell out the big bucks for those who land internships at their companies.
Facebook alone pays its interns an average of $8,000 a month — almost twice as much as a typical American worker, who takes home about $4,400 a month, according to a new report by Glassdoor. To put that into context, if a Facebook intern worked an entire year then he or she would earn a salary of $96,000 while U.S. workers average $52,807.
Amazon, Salesforce, Google and Microsoft, among others, aren't far too far behind Mark Zuckerberg's social media giant, paying a typical stipend of more than $7,000 each month.
Glassdoor reviewed salaries reported by interns between March 2018 and the end of February 2019 to compile its list of highest-paying internships. The job site said tech companies represented nearly half of the top 25 while finance and consulting companies were second and third, respectively.
"As part of their effort to recruit top talent, especially in today’s tight labor economy, these companies are offering high salaries to their interns in order to attract the best of the best candidates," explained Glassdoor in a news release Wednesday.
It's a "great time" for college students to enter the workforce, Glassdoor said. In April, U.S. employers added 263,000 jobs — the 119th month of straight gains — and unemployment fell to 3.6 percent, the lowest rate since 1969.
“Almost every state in the country has hit an all-time low for unemployment. Wages are growing fast, especially for people at the bottom. 6-1/2 percent for the bottom 10 percent for the wage distribution,” Council of Economic Advisers Chairman Kevin Hassett said during an interview on FOX Business’ Lou Dobbs Tonight last month.
Here's a look at the top 25 highest-paying U.S. internships for 2019, and their median monthly pay, per Glassdoor.
- Facebook: $8,000
- Amazon: $7,725
- Salesforce: $7,667
- Google: $7,500
- Microsoft: $7,250
- Uber: $7,167
- Bloomberg L.P.: $7,000
- Capital One: $7,000
- Apple: $6,667
- Bank of America: $5,833
- J.P. Morgan: $5,667
- Goldman Sachs: $5,367
- Visat: $5,333
- Visa Inc.: $5,167
- Intel Corporation: $5,000
- SAP: $4,833
- EY: $4,825
- Tesla: $4,667
- Deloitte: $4,667
- Cisco Systems: $4,667
- PwC: $4,500
- KPMG: $4,500
- Genentech: $4,500
- Dell: $4,333
- Boeing: $4,167