Students are aware that a highly sought-after internship can offer crucial real-world experience and even result in a job offer by graduation. Additionally, it might imply a sizable salary to support your educational costs.
Last year, 87% of paid interns made at least $15 per hour, while many made significantly more. According to data from Glassdoor posted on Tuesday, the average intern made $24.63 per hour, up 11% from 2021. The highest salary was $54.38.
The research was based on the average monthly pay that interns reported on Glassdoor between March 1, 2022, and February 28, 2019.
Students might try to improve their financial situation by working longer hours to pay for expenses as college costs rise and President Joe Biden’s student loan forgiveness scheme is currently being challenged in the Supreme Court.
Internships allow you to earn money while gaining essential professional experience, according to Fremont University in Cerritos, California. “A paid internship will give you money to pay for your college expenses and tuition.”
Where can I find internships that pay the most?
According to Glassdoor, the fintech business Stripe gave the highest average paid internship at $9,064 per month, or more than $108,000 per year. Roblox, an online gaming platform, came in second with a monthly salary of $9,017, while Nvidia, a semiconductor manufacturer, came in third with $8,280.
Coinbase, a cryptocurrency trading platform, came in fourth with a $8,206 salary. According to Glassdoor, the company’s optimistic business outlook was only 39%.
The “positive business outlook rating data can signal whether the company might be hiring this summer (or in the near future),” according to a Glassdoor spokesman.
In a second round of layoffs in less than a year, Coinbase said in January that it will reduce its personnel by around 20%. It highlighted destabilised cryptocurrency markets and bad economic conditions.
In contrast, Nvidia, Roblox, and Stripe all got higher business outlook scores than Coinbase (95% for Nvidia, 75% for Roblox, and 56% for Stripe), indicating that they are all more likely to offer paid internships this year.
Although 16 of the top 25 highest-paying internships were at software businesses, Glassdoor notes that the list also includes Rivian, the only automaker in the group, five financial institutions (including Citi and Capital One), three consulting firms (including Bain & Co. and McKinsey & Co.), and Rivian.