The manager assists the technology interns.
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Online payment processor Stripe will pay interns the most this year, with an average monthly intern salary of more than $9,000 per month, according to a report from jobs data site Glassdoor. Stripe took the top spot from online gaming platform Roblox, which had the highest-paying internship in 2022.
The data, released Tuesday, aggregated salary reports for current and former U.S.-based interns between March 1, 2022 and February 28, 2023 to find the 25 highest-paying interns. Only companies that had 30 or more interns reporting their salaries on Glassdoor were considered.
The results come as companies in all sectors, but especially technology, react to high costs and other macro problems by cutting full-time jobs. Organizations like Stripe and Meta have both made headlines for downsizing, but they still pay a premium for intern talent, ranking in the top five on Glassdoor’s list. The 10 highest paying internships are in technology or finance.
Here are the 10 highest paying internships of 2023, according to Glassdoor:
- Industry: Technology
- Median monthly salary: $9,064
- Industry: Technology
- Median monthly salary: $9,017
- Industry: Technology
- Median monthly salary: $8,280
- Industry: Technology
- Median monthly salary: $8,206
- Industry: Technology
- Median monthly salary: $8,160
- Sector: Finance
- Median monthly salary: $8,050
- Sector: Finance
- Median monthly salary: $7,947
- Sector: Finance
- Median monthly salary: $7,873
- Industry: Technology
- Median monthly salary: $7,809
- Sector: Finance
- Median monthly salary: $7,651
Given the precarious labor market and overall economic environment, Glassdoor’s research also rates companies on their business outlook, which was calculated based on aggregate employee feedback on Glassdoor. The company’s business outlook can help a potential intern assess whether this organization will be a potential long-term employer.
The report found that the highest-paying intern employers didn’t necessarily match the highest-scoring business prospects.
“Just because a company pays its interns heavily doesn’t necessarily mean it’s performing well – the positive business outlook rating can indicate whether a company is likely to hire in the near future,” said economist Daniel Zhao. principal of Glassdoor, to CNBC Make It.
For example, Stripe, Meta, and Coinbase have the lowest prospect ratings in the top 10 despite paying their interns some of the best salaries. NVIDIA had the highest score on the business prospects of the highest paying internships.
Glassdoor’s study also shows that the highest-paying internship pays less than the highest earner last year. Stripe took the top spot with an average monthly salary of $9,064, slightly lower than the highest salary of 2022, which was $9,667 at Roblox.
“2022 has been an exceptionally hot job market. As we head into 2023, companies are cutting budgets in anticipation of a possible recession, so it’s no surprise we’ve seen wages drop slightly as the competition for talent is cooling,” Zhao said.
However, overall, the most lucrative internships are paying more than last year. The average of the 10 highest payers of 2023 is around $8,206, up from an average of $8,100 last year.
“In a difficult economic climate like the one we are currently experiencing, it is not uncommon to see internship programs being halted or reduced in order for companies to cut costs,” Zhao says. “However, some companies will continue to invest in interns even in difficult times in order to continue nurturing the next generation talent pool within the company.”
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