Top Talent: High salaries for interns that attract top graduates

An internship is an opportunity for students to get a taste of the working world and put into practice some of the skills they have acquired. Most enter companies to do small domestic tasks such as replenishing office supplies in exchange for minimum wage, but there are others with “better luck” that can get an income per month of $8000 from Uber or Amazon.

This data is part of the 25 Companies Offering Interns Top Dollar Pay in 2022 study conducted by Glassdoor in April 2022, where the salaries awarded to interns, (if they intern for a year), exceed the annual salary of an average U.S. worker.

The company at the top of the list is Roblox, which pays interns a dizzying monthly average of $9,667. Other participants, such as Microsoft, Deutsche Bank, and eBay, send their interns home with about $7,000 each month. Glassdoor has been tracking the highest-paying internships since 2017 and has seen the numbers rise each year.

While these salaries leave many people who have been working full time for years with their mouths hanging open, the reality is that the workforce is showing a shift, and companies, primarily in the tech sector, are focused on attracting young talent regardless of whether they are just starting their careers. The internship shows them the quality of salaries they can expect if they stay working for them. For companies, the internship stage is an investment that at the end of the day represents savings when recruiting because it ensures that they are attracting the best talent.

Just two years ago, the supply of technology internships represented less than half of the internships on the list of the highest paid, but today technology companies in Silicon Valley represent 68%. These numbers increased significantly because many companies moved their operations online and technology skills became more than necessary.

One more advantage for young people in states farther away from San Francisco or New York who now could apply and work for these companies without having to move from their hometowns.

 

Not everyone is as lucky

Although the salary of interns is increasing in many sectors, there may be others, such as the creative or charitable sector, that continue to work for free.

Non-profit, government, or arts organizations are the main ones to offer a space for unpaid interns. It is important to clarify that it is not normal to have highly paid internships, but neither should it be normal to count on the time of an intern without offering anything in return.

Let us recall the case of the famous Condé Nast publishing house, which had to endure a class action lawsuit filed by former interns who demanded payment for the time worked for them and where some declared that they received less than a dollar per hour while performing editorial activities for which a contract employee was paid.

For the Society for Human Resource Management (SHRM), “people today no longer have the ability to work for free.
It is becoming increasingly difficult for a person to sacrifice
financial security to gain experience.”

 

What to expect?

The truth is that the trend is toward paid internships becoming the norm.

Many companies sell the idea to interns that they should be grateful because they will gain experience, but the reality is that an intern can bring new ideas and make a positive impact on the way business is done. After having the world turned upside down by the pandemic, interns need to feel confident that they will find a place that recognizes their skills.

In this regard, Did You Know Intern Expenses are Taxable? At Orion, we offer the service through our Global Expense Management for interns platform.

Do not hesitate to contact us if you need more information. Write to us at hello@orionmobility.com

 

Subscribe to our blog

  • We are committed to keeping your email address confidential. We do not sell, rent, or lease our subscription lists to third parties.
Corporate Headquarters

4 Mountainview Terrace, Suite 101

Danbury, CT 06810

Toll Free: 1.800.GROSSUP (476.7787)

Phone: 1.203.762.0365