A $7,000 a month internship may sound over the top. But in Silicon Valley, firms are shelling out thousands of dollars a month to attract top engineering and computer science talent.
Schlumberger, ranked last on Glassdoor’s list of the 25 highest paying companies for interns, is paying a cool $4,634 a month to these workers. And intelligence technology firm Palantir, in the no. 1 spot, is paying upwards of $7,000 a month.
Glassdoor expert Allyson Willoughby says these pay rates make a lot of sense. Tech firms landed in the top five spots on Glassdoor's list, and Willoughby says companies battling for talent are willing to pay big bucks to interns.
“These technology companies are looking for people for really fill specialized roles,” says Willoughby. She says students who get these competitive internships are typically those studying computer science or applied mathematics.
And while many familiar names like Facebook, Twitter, LinkedIn and Google made the list, Willoughby says these salaries aren’t at all representative of the tech industry as a whole. What’s more, she says most companies don’t need to break the bank to attract great, hardworking interns.
Here are Willougby’s four tips for recruiting quality interns:
No. 1: Create a meaningful program.
The biggest no-no is recruiting interns without a solid plan in place, says Willoughby.
“The one thing you don’t want to do is keep the filing you didn’t do, and give it to a summer intern,” she says.
Great interns are looking for an opportunity to learn new skills and get their feet wet in a professional setting. As a result, Willoughby says it’s necessary to develop a plan that will help interns learn how to meaningfully contribute to the team.
No. 2: Always be on the lookout.
If you’re looking for summer interns once school lets out, you’re months late to the party.
“Searching for interns should always be an ongoing thing,” says Willoughby. She recommends having a constant job listing up on your website that provides details about the internship experience.
No. 3: Partner up with universities.
Willoughby advises businesses to be proactive about developing relationships with universities.
“Reach out to target universities and make sure they’re aware of the roles you have open,” says Willoughby. Also stay abreast of recruiting events or career fairs that you can participate in.
No. 4: Reach out to past interns.
“If you’ve had interns in the past, leverage their social media circles,” says Willoughby. “Try and get them to send their friends your way.”
Willoughby says this is also a good practice when it comes to hiring full-time employees.
“Make the program so amazing that they tell their friends, who want to work there,” says Willoughby.
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