What is the average salary for an internship ? This is one of those questions that commonly asked by a candidate during the interview. Candidates these days spend lot of time searching on the internet over their chosen profession. The idea behind their search is to get the required info related to their profession, which can include the average salary, where to find job opportunities and roles available in the market and what are the job expectations from employers.
To be honest the first question that comes to our mind, when we think about an internship is “how much would I earn for an internship?” I mean there are many things apart from the salary that is to be considered as well like the name of the organization or a placement opportunity or even the designation or anything. But still nothing can be compared to salary in terms of importance.
The average number of hours per week that an intern works is 35. The average hourly wage for an intern is $16.68.
What is the average salary for internship
Introduction
You’re likely to have a few internships during your time in college. They will give you experience and help you build the skills you need to find employment after graduation. You might even land a job offer from the company at which you interned.
Internships are also a source of income, and knowing how much money you can expect to make will help you plan for your future. It also gives insight into whether an internship is offering fair compensation for work performed.
The average salary for interns ranges from $19,000 to $38,800 per year, according to PayScale data collected between February 2017 and May 2018. There’s quite a bit of variation in this figure based on industry and location (more on that later). Other organizations report higher figures: CollegeGrad reports that the average salary offered by employers is $18/hour while Glassdoor says it’s nearly $32/hour [source].
Most paid internships are in the health care sector, with an average salary of $38,800. The median highest salary is $60,000, which is earned by internships in finance. The highest-paid internships are in science, technology, engineering and mathematics (STEM), where interns earn an average of $38,500.
- Health Care: The health care sector is the highest paying industry for interns, with an average salary of $38,800.
- Finance: If you’re looking to make serious money during your internship and get a leg up on getting hired after graduation, consider an internship in finance. Although they’re not as plentiful, these types of internships have the highest median highest salary at $60,000 per year.
- Science Technology Engineering Mathematics (STEM): Interns in STEM earn an average of $38,500 per year. And if you think this type of work might be interesting to you but don’t know where to start looking for jobs or internships in STEM fields…
Those who work for nonprofit organizations earn slightly more than those who work for for-profit organizations: about $4,000 more annually.
Those who work for nonprofit organizations earn slightly more than those who work for for-profit organizations: about $4,000 more annually. Nonprofits are often smaller, which means they can’t afford to pay as much. In addition, since nonprofits typically have less funding from their donors and sponsors, they often must be more flexible with the employees and offer them different options that may include part time hours or telecommuting.
Nonprofit organizations also tend to have more challenging projects and less structured environments than their for-profit counterparts. While some people prefer this kind of environment because it allows them greater freedom in how they do things, others find it frustrating not having clear guidelines or direction from management on how work should be done.
Interns in the Northeast earn more than those anywhere else in the country. The lowest-paying regions are the West and Midwest.
In general, interns in the Northeast earn more than those anywhere else in the country. The lowest-paying regions are the West and Midwest.
Internships can be very lucrative, but not everyone has access to them. People from low-income families have a harder time obtaining internships because they can’t afford housing or food while spending time working for free at a company that may or may not hire them after their internship ends.
A typical internship lasts less than three months and earns little income. Just a half of 1 percent of interns and paid summer employees make more than $12,000 over the course of a summer; only 2 percent make more than $6,000.
Internships are a great way for students to gain valuable work experience and build their resume. However, most internships are unpaid, which can make it difficult for students to pay rent or buy groceries while they’re working them. The average salary for an internship is $4,000 per year, according to PayScale.com’s 2016 survey of college graduates’ starting salaries.
The highest average pay was in the health care sector at $38,800 per year; this field also had the highest percentage of interns who were paid ($19 percent). The lowest-paying field was education (median annual salary: $25,200).
The pay can vary widely by industry and location — as much as 45 percent — so it’s useful to ask questions before accepting an internship offer or deciding what field to pursue after graduation.
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Average salary for internship is approximately $4000
The average salary for an internship is approximately $4000. This figure is not always a median salary, and it could be lower or higher than the median wage depending on the industry you are looking at. If you are considering taking on an internship, it’s important to look at both figures so that you can determine whether or not your salary expectations are realistic.
Conclusion
You are worthy of a salary that reflects your skills and experience. For example, if you’ve been working in tech for 10 years and have achieved success through creative problem solving, but the start-up you’re interviewing with has a flat management structure and won’t offer more than $60k per year, ask yourself not only if there’s an opportunity to grow beyond this pay grade (there probably isn’t), but also whether this position is worth your time at all. The answer to both questions is most likely no.
