Do Interns Get Paid? How Much Do Interns Get Paid?

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If you’re getting ready for an internship and want to know how much interns get paid, then this article is for you. An internship offers the best opportunity to gain valuable work experience. It will help you grow your knowledge and explore a career part.  

Internships are often done for academic credits and on-the-job experience. So, it isn’t about money. However, paid internships can help you gain some financial stability.

For example, a paid internship will provide money to fund your college tuition and expenses. So it’s okay for you to want to know how much interns get paid.

We have provided answers to various questions on how much interns get paid. We’ve also given you a full list of the top 25 companies that pay interns well in the United States.

If you need money to support your college or other financial needs, you can check out this article on How to Make Money Online for Beginners [20 Tips that Works]

Do Interns Get Paid?

Yes, the average base salary of an intern in the United States is $17.03 an hour. The entry-level salary is $21,00 0 a year. Similarly, the median yearly pay of interns is $29,000. However, Interns’ pay can get as high as $45,000 a year.

Companies like Adidas and Dell paid interns $20.76 an hour in the summer of 2020. Some companies pay an additional $2,500 for housing. And, you get about $1,700 for travel expenses.

If you want to earn higher as an intern, you will have to look out for big companies mentioned later in this article. Keep reading.

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What Do Interns Get Paid?

Generally, companies pay interns at least minimum wage and overtime. The US federally mandated minimum wage as of January 2022 is $7.25 an hour.

The following is the InterExchange Internship Programs requirement for International applicants. Internships may either be paid or unpaid.

  • InterExchange does not permit unpaid programs that exceed 6-months in program length.
  • In addition, shorter programs must meet the Department of Labor’s test for unpaid internships.
  • If the program you’re offered does not meet this Department of Labor test, then you must be paid at least the amount required for similar employees under federal, state, and local minimum wage laws.

The average salary an intern can earn varies from company to company as you will see later in this article. However, an internship is not your only money-making option.

Read this article on How To Make Money Online Without Paying Anything | 15 Legit Ways even as an intern.

How Much Do Interns Get Paid for Holidays?

The real question is: ‘do Intern get paid holidays? The Fair Labor Standards Act (FLSA) does not require payment for time not worked. Hence, whether you are an intern or a full-time employee, holiday benefits are generally a matter of agreement between you and an employer.

So, some interns are not likely to be paid for holidays.

But, you can make money by selling stuff on websites locally and online. Check out these 27 Websites To Sell Stuff Locally And Online.

Do Interns Get Paid Overtime?

As stipulated under the Fair Labor Standards Act (FLSA), you will receive paid overtime if your internship has ‘worker status’. However, it is important you speak to an experienced overtime pay lawyer to determine if you should receive overtime pay.

Specifically, as stipulated by the FLSA, you will not be paid overtime if;

  1. Your internship is training-based.
  2. The internship experience is for your benefit;
  3. You do not replace regular employees. But you work under close supervision of existing staff;
  4. The employer that provides the training does not derive an immediate advantage from your activities. And occasionally, they may actually impede its operations;
  5. You are not necessarily entitled to a job at the conclusion of the internship;
  6. The employer and you understand that you are not entitled to wages for the time spent in the internship.

How Much Do Interns Get Paid in California?

California is the largest state economy in the US with diverse industries. In California, you can find internship programs in the technology, entertainment, and hospitality industry. There is also the agricultural sector to look out for.

You will earn an estimated total pay of of$58,453 a year in Los Angeles, California. Top companies even offer higher pay. For example, Levi Strauss & Co. pays interns $48.30 an hour. Similarly, Boeing pays about $42.35 an hour.

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How Much Do Interns Get Paid in NY?

The average annual pay for an intern in NY is between $33,241 and $44,595 a year. You will find internships across all career fields in NY.

Many people consider New York City the cultural, financial, and media capital of the world. Therefore, interning in NY could be your path to growth and greatness.

You can find thousands of paid internships on different job sites. Check out indeed.com, internship.com, and interngroup.com.

In addition, LinkedIn advertises over 1,000 summer internship jobs in NY. New York is a magnetic city where you’ll love to intern.

See Also: 21 Best Passive Income Apps to Make Money in 2022

When Do Interns get Paid?

Most companies pay interns hourly wages or salaries. Others pay weekly or monthly stipends.

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How Much Do Interns Get Paid in Top Companies?

The following are the top 25 Companies with the highest paying internships in the US. The median monthly payment is based on 2022 Glassdoor salary reviews.

Google

Google’s hourly pay for interns ranges from $12 an hour for students to $45 an hour for software engineer interns. You can intern in fields like engineering, technology, and business.

Internship programs on Google typically last for 12 – 14 weeks. Meanwhile, Google’s median monthly pay for interns is $7,129.

Facebook

You can earn a median monthly pay of $8,023 which is around $43 to $45 an hour as an intern on Facebook. It offers internship positions in network engineering and optical design. Additionally, you can opt for applied research, artificial intelligence, and more.

Microsoft

Microsoft software engineer interns get a base pay of $72,203 a year. Research interns get up to $112,206 base pay a year. The median monthly pay for Microsoft interns is $7366.

Internship positions in Microsoft include audio and acoustics, mixed reality, and urban innovation. You can also get internship positions in security and cryptography at Microsoft.

Apple

The median monthly pay for interns at Apple is $6,917. Apple promises you a hands-on and collaborative experience. In addition, Apple pays interns overtime hours.

Capital One

The median monthly salary for interns at Capital One is $7,530. Capital one is a tech-focused bank. It offers internships in programs like commercial banking, design, and human resources. Also, you can get internship positions in management and technology.  Capital One would be a great place to intern If you’re interested in tech-based financial services.

Goldman Sachs

Goldman Sachs internships are for those currently pursuing a college, university, MBA degrees, and more. Internship positions at Goldman Sachs include summer analyst, summer associate, and engineering intern abroad.

The median monthly pay for interns at Goldman Sachs is $6,008. But level 2 Interns at Goldman Sachs are paid  $30,611 a year. Technology Analysts could earn up to $104,122

Salesforce

Salesforce pays interns a median monthly salary of $7,710. In addition, it equips students through job shadowing, mentorship programs, development courses, and more.

JP Morgan

JP Morgan is a global leader in financial services. Hence, you can work in banking or AI and machine learning. You can also work in commercial real-estates.

So what does JP Morgan pay interns? According to Business Insider, JP Morgan pays interns a median monthly rate of $5,667.

Cisco

Cisco Systems pays interns a median monthly pay of $5,347. Also, provides internship positions in software engineering, network support, or product design. It is one of the best-paying companies in the telecommunications equipment industry. However, Cisco internships are for undergraduates and graduates.

Nvidia

Nvidia pays interns more than $8,811 a month. You can find internship positions in AI and marketing. Other positions include engineering and security and design.

ExxonMobil

ExxonMobil pays interns a median monthly pay of $7,018. In addition, you can gain knowledge in the oil and gas sector. ExxonMobil offers internship positions in engineering, computer science, and finance.

Adobe

Adobe pays interns a median monthly pay of $5,875. If you’re a university grad or student, you can apply for an internship at Adobe.

Mathworks

Mathworks pays interns a median monthly pay of $5,905. The company deals in mathematical computing software.

Tesla

You can work in digital content or software engineering at Tesla. You can also work in visual and graphic design. Also, interns can work in asset and human resources management.

So what does Tesla pay interns? Tesla pays interns a monthly median pay of $5,348. It will give you an opportunity to work in electric cars and green energy.

Citi

The median monthly pay for interns in Citi is $6,043. You might need to have prior experience in the field. Students and grads can apply for Citi internships.

Qualcomm

Qualcomm pays interns a median monthly pay of $6,355. It operates in the Telecommunications equipment industry. If you want to learn more about the telecommunications equipment industry, check out these 15 Best Paying Jobs in Telecommunications Equipment | 2022. This article will guide you on interning positions to look out for at Qualcomm.

VMware

VMware is another company that pays interns well. The median monthly pay at VMware is $6,463. You can work in product management and product development. Also, you can apply for machine learning and artificial intelligence. IT application development is another internship position at VMware.

PayPal

The median monthly pay for Paypal interns is $6359. Internship programs at PayPal range from software engineering to accounting and finance and risk management. Also, PayPal offers a 12-week internship experience for graduates and undergraduates.

BlackRock

BlackRock is one of the world’s leading providers of investment, advisory, and risk management solutions. You can apply for the 9.5-week summer analyst program if you’re a master’s or undergraduate student. An MBA student on the other hand can go for the 10-week summer associate program.

But how much can BlackRock pay you as an intern? BlackRock pays interns a median pay of $6,684.

American Express

American Express pays interns a monthly median pay of $6,622. Undergraduate students can intern in marketing and software engineering. In addition, you can go for information security and digital analytics.

Intuit

Intuit majors in tax accounting software. Its products include Turbo Tax and Mint. You can intern as a data analyst and design technologist. Meanwhile, Intuit pays interns a median monthly wage of $6749.

Uber

Uber offers one of the highest pay for interns. You can go for marketing or business. You can also opt for software development and operations. Uber pays interns median monthly pay of $7353.

Amazon

Amazon offers internships in fields like marketing, design, economics, and data science. You can intern in any of their subsidiaries like Audible, Fire TV, ShopBop, and Twitch.

In addition, you can find both technical and non-technical internship positions on Amazon. But how much do interns get paid on Amazon? The monthly median pay for interns on Amazon is $7954.

Marathon Petroleum

Marathon Petroleum is another company that pays interns well. The median monthly pay for interns is $5,512 at Marathon Petroleum.

LinkedIn

LinkedIn also pays interns well. The median monthly pay for interns at LinkedIn is $8,009. LinkedIn offers Tech & Business internships between August & November.

Conclusion

While the internship is not all about the pay but the knowledge and development, you can earn a lot of money for your college degree and other financial needs. Big companies always offer opportunities for talented and hardworking grads and undergraduates.

FAQs

How much are interns paid in the US?

The median yearly pay of interns is $29,000. However, Interns’ pay can get as high as $45,000 a year.

Is $20 an hour good for internship?

Yes, $20 an hour is good for an internship.

An internship is not usually about the money. It is about skills, knowledge, and academic credit. Hence, some internships are unpaid. Such an internship provides you with course credit or covering for living expenses. On the hand, some internships are paid. Big corporations like Google, LinkedIn, and Nvidia pay a monthly average pay of above $8000.

Are internships paid in California?

Yes, some internship is paid in California.

You’ll find both paid and unpaid internships in California on different job sites like LinkedIn and indeed.

What is the highest paying internship?

The highest paying internships according in 2022 are:

  1. Nvidia
  2. Facebook
  3. LinkedIn
  4. Amazon
  5. Salesforce
  6. Capital One
  7. Microsoft
  8. Uber
  9. Google
  10. ExxonMobil

Do summer interns get paid?

Yes, you find paid summer interns. Companies like Adidas and Dell paid interns $20.76 an hour in the summer of 2020. However, the average summer intern in the United States is $15.15 per hour.

References

  • cnbc.com – Paid internship wages are the highest they’ve ever been—but there’s a catch
  • cnbc.com – College internships are back and pay even more than before
  • interexchange.org – Compensation: Minimum pay requirement

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