Top internship salaries

May 10, 2012

With the end of another semester upon us, college students of all ages are searching for internships for the summer break.

Experts say that internships provide a variety of benefits for those pursuing a college degree. They help individuals get valuable work experience in their desired industry, field or profession, they can be used to get college credits and they are often paid positions that help students make money to pay bills and offset other costs while in school.

But which type of internships pay the most? A recent report released by the National Association of Colleges and Employers (NACE) revealed that individuals studying engineering or computer science command the highest internship salaries.

NACE's 2012 Internship & Co-op Survey, which polled 280 NACE-member organizations that hire college students for internships between November 2011 and January 2012, found that engineering majors who are hired for paid internships make an average hourly salary of $20.79.

Other high-paying majors when it comes to internships include computer science/IT ($19.10), physical sciences ($18.60), mathematics/statistics ($17.89) and health sciences ($17.83).

"In addition to major, there are a variety of factors that determine the intern's hourly rate," said NACE executive director Marilyn Mackes. "Chief among these is the student's year in school, with pay increasing in line with the student's advancement toward graduation."

The survey reported that the average wage rate for interns at the bachelor's degree level is $16.21. Overall, this represents a 2.8 percent decrease from last year's average of $16.68. It also revealed that employers expect to increase internship hiring by almost 9 percent this year. Of their total 2011-12 expected new college hires, more than 40 percent will come from employers' own internship and co-op programs.

A separate study conducted by the organization reinforced the common thinking that internships are valuable tools for those embarking on a post-graduation job search. NACE's 2011 Student Survey found that individuals who work as paid interns while completing their degrees are more likely to get a job offer, have a job in hand by the time they graduate, and receive a higher starting salary offer than their peers who undertook an unpaid internship or no internship at all.

"Paid interns reported spending more time on 'professional' duties and therefore appeared to gain more of the 'real' experience that appeals to employers than unpaid interns, who spent more time on clerical activities," said Mackes.

In addition using internships to reduce the costs of higher education, moms who are heading back to school are eligible for scholarships for mothers, single mother scholarships, grants for parents and other financial aid.

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