What do most interns get paid?

Most interns receive competitive pay, with variations based on the industry, company size, location, and role. Here’s a breakdown of what interns typically earn across various fields:

1. Average Pay by Industry

• Tech and Software Engineering: In the tech industry, interns earn some of the highest rates, usually between 20 to 40 per hour for entry-level roles. In larger tech companies, rates may go up to $50 per hour or more for specialized roles, such as software engineering and data science.

• Finance and Investment Banking: Finance interns, especially in investment banking and quantitative analysis, earn between 25 to 50 per hour. Major investment firms may pay higher, often providing additional performance bonuses or stipends.

• Consulting: Consulting interns at major firms like McKinsey, BCG, or Bain typically earn around 25 to 40 per hour, with some firms paying up to $50 per hour depending on location and experience.

• Healthcare and Biotech: Interns in fields like biotech, pharmaceuticals, and healthcare management usually earn between 15 to 30 per hour. Research-based positions may offer lower pay but provide valuable experience in specialized areas.

• Media and Marketing: Interns in marketing, PR, and media usually earn between 12 to 20 per hour. However, larger media companies and digital marketing roles may offer rates around 20 to 30 per hour.

2. Variation by Company Size and Location

• Large Corporations: Large corporations, especially in industries like tech, finance, and consulting, offer the highest pay. For example, a software engineering intern at a top tech company could earn 7,000–10,000 monthly, while interns at smaller firms might make 3,000–5,000 monthly.

• Regional Differences: Intern pay is higher in cities with a high cost of living, like San Francisco, New York, and Seattle, where rates are adjusted to accommodate living expenses.

3. Typical Pay Ranges for Different Roles

• Entry-Level Interns: Entry-level roles, especially in fields like business administration, marketing, and social media, typically pay between 12 to 20 per hour.
• Specialized Roles: Technical roles, like software engineering, data analysis, and quantitative research, generally earn between 25 to 50 per hour, depending on the company.

4. Additional Benefits for Paid Interns

Many paid internships include additional perks:

• Housing and Relocation Stipends: Companies in high-cost areas often offer housing stipends, especially for tech and finance interns.
• Professional Development: Paid internships frequently include networking events, workshops, and mentorship programs, adding value beyond salary.

Conclusion

Most interns are paid, with average hourly rates generally ranging from 15 to 30 across industries. Interns in technical fields, finance, and consulting tend to earn higher rates, while non-technical fields like media and marketing pay slightly less. The pay range depends on factors such as industry, location, and role specialization, with larger companies typically offering the most competitive packages.