Interns at Facebook, Microsoft and ExxonMobile earn between $6,500 and $8,000 a month
Want to make $8,000 a month and enjoy perks like free housing and transportation? Get an internship at Facebook.
Yes, an internship.
The social network tops the list of Glassdoor’s 25 Highest Paying Internships in America for 2017 that came out on Tuesday. And the college kids cutting their teeth at pre-entry level positions at Facebook, Microsoft, ExxonMobile, Amazon and Apple are all making more than $6,000 a month. The report is based on intern salary reports submitted anonymously to Glassdoor over the past year.
And were these young temp workers were to stay on at this pay rate for a full 12 months, they would be raking in up to $96,000 a year. That’s almost twice as much as the $51,530 the average U.S. employee makes each year, according to the Local Pay Reports also released by Glassdoor on Tuesday.
“These are college students who are earning much more than the average American worker. That is incredible,” said Scott Dobroski, Glassdoor community expert.
But these young twentysomethings aren’t making bank from fetching coffee, taking notes and the other grunt work long associated with students trying to get a foot in the door. The internships topping this list are data analysts and software engineers working in the tech, financial, and oil and energy industries.
“These are highly sought after skill sets, and so some of the best companies in the world are willing to pay top dollar to lure in and recruit the best young minds in hopes of identifying them early and bringing them in,” explained Dobroski. And companies like Facebook, Microsoft, ExxonMobile and Amazon are able to pay up to $8,000 a month to make sure they don’t lose these rising stars to their competitors. And they throw in perks like free food, intern events and mixers, transportation and housing.
“Demand continues to greatly outpace supply for these skill sets,”said Dobroski, noting that some of these top-paying internships have increased by one or two thousand dollars a month since Glassdoor’s previous report in 2014.
It’s part of an ongoing shift away from unpaid internships. A recent study found that paid interns at private companies have a 72% chance of getting a job offer compared to just 44% of unpaid interns. And former unpaid interns have sued huge companies such as the Hearst Corporation and the Olsen twins’ Dualstar Entertainment for not compensating them for doing the same work as paid employees.
Technology was the most represented industry on the new list, with 16 companies making up the top 25. Even the Bank of America interns in the lowest spot are still making $4,570 a month, which would add up to $55,000 a year.
“It’s part of a rising trend,” said Dobroski. “Three years ago, we were still in the aftermath of the Great Recession, so companies were not hiring as aggressively. But since then, new jobs have been created, wages have increased. It’s a vibrant job market. So it’s not surprising to see intern pay go up as well.”
Here are the 25 highest paying internships in America:
1. Facebook: $8,000 Median Monthly Pay
2. Microsoft: $7,100
3. ExxonMobil: $6,507
4. Salesforce: $6,450
5. Amazon: $6,400
6. Apple: $6,400
7. Bloomberg L.P.: $6,400
8. Yelp: $6,400
9. Yahoo: $6,080
10. VMware: $6,080
11. Google: $6,000
12. NVIDIA: $5,770
13. Intuit: $5,440
14. Juniper Networks: $5,440
15. Workday: $5,440
16. BlackRock: $5,400
17. Adobe: $5,120
18. MathWorks: $5,120
19. Qualcomm: $5,040
20. Capital One: $5,000
21. Chevron: $5,000
22. Accenture: $4,960
23. Deutsche Bank: $4,640
24. AIG: $4,616
25. Bank of America: $4,570
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