These college internships pay nearly double what average US employees make

By JobsFOXBusiness

Internships for middle aged workers take root on Wall Street

iRelaunch CEO Carol Fishman Cohen on the rise of internships for middle-aged workers.

College students searching for the perfect summer job may want to consider applying for internships instead, especially if they have tech experience.

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A handful of tech companies are willing to shell out the big bucks for those who land internships at their companies.

Facebook alone pays its interns an average of $8,000 a month — almost twice as much as a typical American worker, who takes home about $4,400 a month, according to a new report by Glassdoor. To put that into context, if a Facebook intern worked an entire year then he or she would earn a salary of $96,000 while U.S. workers average $52,807.

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Amazon, Salesforce, Google and Microsoft, among others, aren't far too far behind Mark Zuckerberg's social media giant, paying a typical stipend of more than $7,000 each month.

Glassdoor reviewed salaries reported by interns between March 2018 and the end of February 2019 to compile its list of highest-paying internships. The job site said tech companies represented nearly half of the top 25 while finance and consulting companies were second and third, respectively.

"As part of their effort to recruit top talent, especially in today’s tight labor economy, these companies are offering high salaries to their interns in order to attract the best of the best candidates," explained Glassdoor in a news release Wednesday.

It's a "great time" for college students to enter the workforce, Glassdoor said. In April, U.S. employers added 263,000 jobs — the 119th month of straight gains — and unemployment fell to 3.6 percent, the lowest rate since 1969.

“Almost every state in the country has hit an all-time low for unemployment. Wages are growing fast, especially for people at the bottom. 6-1/2 percent for the bottom 10 percent for the wage distribution,” Council of Economic Advisers Chairman Kevin Hassett said during an interview on FOX Business’ Lou Dobbs Tonight last month.

Here's a look at the top 25 highest-paying U.S. internships for 2019, and their median monthly pay, per Glassdoor.

  1. Facebook: $8,000
  2. Amazon: $7,725
  3. Salesforce: $7,667
  4. Google: $7,500
  5. Microsoft: $7,250
  6. Uber: $7,167
  7. Bloomberg L.P.: $7,000
  8. Capital One: $7,000
  9. Apple: $6,667
  10. Bank of America: $5,833
  11. J.P. Morgan: $5,667
  12. Goldman Sachs: $5,367
  13. Visat: $5,333
  14. Visa Inc.: $5,167
  15. Intel Corporation: $5,000
  16. SAP: $4,833
  17. EY: $4,825
  18. Tesla: $4,667
  19. Deloitte: $4,667
  20. Cisco Systems: $4,667
  21. PwC: $4,500
  22. KPMG: $4,500
  23. Genentech: $4,500
  24. Dell: $4,333
  25. Boeing: $4,167