Dive Brief:
- Despite layoffs that have pummeled the tech sector, companies in that space still offer some of the highest-paid internships, according to Glassdoor data released Tuesday. Of the top 25 companies, 16 are in tech, including Roblox, a video game developer, Meta and Amazon. Given the “turbulent economic climate,” Glassdoor also shared how employees rated the companies’ business outlooks, with Twitter earning the lowest score (22% positive) and NVIDIA, a graphics processor producer, the highest (95% positive).
- Five finance companies, including Capital One and Citi, and three consulting firms, including Bain & Co. and McKinsey & Co., also made the list. The only automotive company that had some of the highest-paying internships was Rivian, which manufactures electric vehicles.
- In 2022, 87% of interns made at least $15 per hour, Glassdoor said. The average intern earned $24.63 per hour, up 11% from $22.17 the year before. Stripe, a payment processing tech provider, led the pack, paying interns $9,064 per month on average, Glassdoor said.
Dive Insight:
Even as news of layoffs spread, employers overall plan to increase their number of internships this summer by 9.1%, according to a National Association of Colleges and Employers report that surveyed 221 employers during the last two months of 2022. That’s down from the 22.6% increase projected for summer 2022 that came on the heels of a pandemic-driven slowdown in intern hiring.
Earlier this month when the report was released, NACE Executive Director Shawn VanDerziel said, “Last year was a return to ‘normal’ after two years of reduced intern hiring. Our current projection is a sign of the increasing popularity of internships.”
Many companies, like LinkedIn, have formal internship programs in place. LinkedIn, which is ranked No. 16 on Glassdoor’s list and pays interns an average monthly salary of $7,360, has paired up with Year Up, a job training nonprofit, for more than a decade to create a pipeline of talent from communities underrepresented in the tech world. Through the program, interns have six months of skill building, followed by a six-month internship. Many get offered full-time positions after their internship ends.
Glassdoor’s report on high-paying internships used information reported to Glassdoor by U.S.-based interns from March 1, 2022, to Feb. 28. All companies included on the list had at least 30 salary reports made during that time.
