According to the U.S. Census Bureau, the median household income in the United States is $53,046. So it may surprise you to learn that several interns earn much more – $75,000+ assuming they were to work a full year.
YouTern partner Glassdoor recently revealed its report of the “25 Highest Paying Companies for Interns.” The report sheds light on how much money some companies pay interns. Perhaps more important, the data underscores the current competitive climate among employers for the best, new talent.
San Francisco Bay Area-based employers dominate the list, representing 18 of the top 25 companies. In fact, the top three employers are tech companies based in the San Francisco Bay Area, including:
- Palantir Technologies ranked #1 with interns earning an average monthly base pay of $7,012
- VMWare was #2 with interns earning an average of $6,966 per month
- Twitter rounded out the top three with interns reporting an average monthly pay of $6,791
Plus, as the war for talent continues across all industries, we see that 19 of the 25 highest paying companies are within the technology sector, while four companies are within the oil, gas, energy & utilities sector.
Here’s what some interns had to say about compensation at these companies:
- “Work is motivated by a real mission. Very few people are there just for money.” – Palantir Support Engineer Intern (Palo Alto, CA)
- “Compensation is up to the mark and company takes care of good bonuses and other perks.” – VMWare Graduate Intern (Palo Alto, CA)
- “You will ship code used in production, you can have a say in virtually all company decisions, you will be generously compensated, you will learn a ton.” – Twitter Software Engineering Intern (New York, NY)
However, pay isn’t everything. According to a recent Glassdoor survey, interns report that when deciding on where to work, some factors most important to them include:
- Career growth (77%)
- Salary & compensation (74%)
- Location & commute (41%)
- Company culture and values (41%)
This report is based on companies with at least 20 intern salary reports shared on Glassdoor between 1/24/12-1/23/14.
For this post, YouTern thanks our friends at Glassdoor!