Internship Pay: Good News, Bad News

Posted by: Alison Damast on April 1, 2009

Here’s a rare tidbit of good news for undergraduates dipping their toes into the gloomy job market. Employers plan to increase the salaries of college students for internships by 4.9% this summer, according to a March 31 survey from the National Association of Colleges and Employers. This bit of news is particularly interesting because it corresponds with a 21% decrease in the number of internship opportunities available. Says NACE’s Executive Director Marilyn Mackes: “This increase in intern salaries may reflect a long-term strategy on the part of employers to ensure their internship programs continue to attract top students.”

So just what can those lucky students that manage to land internships expect when it comes to compensation? Business students, brace yourselves: you’ll be receiving the lowest compensation, with average hourly wages of just $15.93 an hour, according to the survey. Communications majors can expects to earn more than business students at $16 an hour, while science students will earn $16.60 an hour. Engineering students are the highest earners, with an average hourly salary of $18.26, followed closely by computer sciences students, earning $17.20 an hour.

Business students, what do you make of these numbers? Why do you think business students are receiving the lowest hourly compensation?