Key Takeaways
- 60.4% of Class of 2023 bachelor's degree graduates completed at least one internship
- 52% of college seniors had internship experience in 2022
- 65% of paid interns received full-time offers from their internship employer
- Average hourly pay for interns is $20.50 in 2023
- 42% of internships are unpaid
- Tech interns earn $35/hour on average
- 76% of Class of 2023 interns converted to full-time roles
- Interns are 3x more likely to get full-time offers
- 91% of interns get job offers per Vault
- 58% of female students vs 62% males intern
- 45% of interns are STEM majors
- Minorities comprise 42% of interns in 2023
- 92% satisfaction rate among interns
- 85% of interns recommend their program
- 77% say internship improved skills
Internships are crucial for career success, offering higher employment odds and better pay.
Compensation and Benefits
- Average hourly pay for interns is $20.50 in 2023
- 42% of internships are unpaid
- Tech interns earn $35/hour on average
- 60% of paid interns receive stipends over $5,000
- Consulting internships pay $30/hour median
- 25% increase in intern pay since 2020
- Finance interns average $28/hour
- 78% of Fortune 500 offer paid internships
- Average summer internship pay: $6,800 total
- Marketing interns earn $19/hour
- 15% of interns receive housing stipends
- Engineering interns: $32/hour average
- Non-profits: 65% unpaid
- Big Tech intern total comp: $10,000/month
- 52% receive relocation assistance
- Law internships: $25/hour median
- Healthcare interns: $22/hour
- Government interns: 40% paid at GS-3 level ($15/hour)
- 33% get bonuses or signing incentives
- Arts internships: 70% unpaid
- Average benefits value: $1,200 per intern
- Remote interns earn 10% less
- MBA interns: $40/hour
- Journalism interns: $18/hour
- 68% paid internships offer health benefits
- Education interns: $17/hour average
- 45% receive meal stipends
- Architecture interns: $24/hour
- 55% of paid interns get 401k contributions
- Environmental science: $20/hour
- 20% pay gap between male/female interns
Compensation and Benefits Interpretation
Demographic Breakdown
- 58% of female students vs 62% males intern
- 45% of interns are STEM majors
- Minorities comprise 42% of interns in 2023
- 52% female interns, 48% male
- 25% of interns are first-generation college students
- Urban interns: 70%, rural: 15%
- 35% international interns in US programs
- Business majors: 30% of interns
- Gen Z (18-24): 95% of interns
- Low-income students: 28% intern rate
- Hispanic/Latino: 20% of interns
- Black/African American: 12% interns
- Asian American: 18% interns
- Community college interns: 22%
- LGBTQ+ interns: 10%
- Veterans: 3% of interns
- 60% undergrads, 25% grads, 15% high school
- Northeast US: 35% interns
- California hosts 22% of internships
- Women in tech internships: 28%
- Older interns (25+): 5%
- Disabled students intern at 15% rate
- Humanities majors: 18% interns
- Social sciences: 22% interns
- 65% white interns
- Midwest interns: 20%
- Public university interns: 55%
- Private school interns: 75%
Demographic Breakdown Interpretation
Employment Outcomes
- 76% of Class of 2023 interns converted to full-time roles
- Interns are 3x more likely to get full-time offers
- 91% of interns get job offers per Vault
- Paid interns 56% more likely to be employed post-grad
- 70% retention rate for former interns
- Intern experience boosts starting salary by 15%
- 82% of employers prefer candidates with internships
- Conversion rate in tech: 65%
- Interns have 2x faster hiring process
- 44% of full-time hires come from internships
- Unpaid interns 10% less likely to get offers
- Finance conversion: 75%
- Long-term interns (6+ months) 80% hire rate
- 60% of consulting hires from interns
- Internships reduce unemployment by 20%
- Top performers convert at 90%
- Remote interns 15% lower conversion
- Engineering: 70% to full-time
- 55% of MBA full-time from internships
- Healthcare intern hire rate: 68%
- 72% of hires had internship experience
- Intern alumni 40% promoted faster
- Non-profit conversion: 50%
- Salary premium for multiple internships: 25%
- 65% of Gen Z hires via internships
- Law firm intern to associate: 60%
- Marketing: 58% conversion
- Govt hires 30% from interns
- Arts field: 45% hire rate
- 50% of executives started as interns
- Internships improve job placement by 33%
Employment Outcomes Interpretation
Internship Participation
- 60.4% of Class of 2023 bachelor's degree graduates completed at least one internship
- 52% of college seniors had internship experience in 2022
- 65% of paid interns received full-time offers from their internship employer
- Only 1 in 4 internships are paid according to some surveys
- 70% of interns are more likely to return to the same company
- In 2023, internship postings grew by 15% year-over-year
- 56% of Gen Z students prioritize internships for career prep
- 91% of internships lead to full-time employment if completed
- Internship participation among STEM majors is 72%
- Remote internships increased by 200% post-COVID
- 43% of internships are in business fields
- College students average 1.5 internships
- 78% of employers use internships as primary recruiting tool
- Internship applications surged 30% in 2023
- 35% of interns are international students
- Public sector internships make up 12% of total
- 62% of community college students participate in internships
- Tech internships grew 25% in 2023
- 48% of liberal arts majors have internship experience
- Summer internships account for 65% of all internships
- 55% of high school students seek internships
- Engineering internship rate is 80%
- 40% of arts majors intern
- Non-profit internships: 8% of total
- 67% of business students complete internships
- Healthcare internships up 18% post-pandemic
- 29% of internships are virtual in 2023
- Finance sector: 22% internship share
- Average intern age is 21 years
- 74% of top colleges require internships for graduation
Internship Participation Interpretation
Program Quality and Satisfaction
- 92% satisfaction rate among interns
- 85% of interns recommend their program
- 77% say internship improved skills
- 40% cite mentorship as top benefit
- 65% unhappy with workload
- 88% value real projects over busywork
- 72% satisfied with supervision
- Remote intern satisfaction: 68%
- 55% want more training
- 82% appreciate company culture exposure
- 45% report discrimination issues
- 90% of top programs have structured onboarding
- 60% cite pay as dissatisfaction factor
- 75% happy with networking opportunities
- Unpaid interns 50% less satisfied
- 80% value diversity initiatives
- 67% want flexible hours
- Tech intern NPS: 75
- 70% report burnout
- 85% satisfied with career development
- 62% like team integration
- 50% want better feedback loops
- Govt program satisfaction: 78%
- 92% would intern again
- 55% criticize lack of promotion
- Non-profit satisfaction: 82%
- 75% value social impact
- 68% report harassment concerns
- Healthcare intern satisfaction: 80%
- 83% appreciate work-life balance efforts
- Engineering NPS: 72
Program Quality and Satisfaction Interpretation
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