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  • Intern Compensation Not Keeping Pace With Inflation

    April 20, 2015 | By NACE Staff

    Compensation
    A researcher jots down notes on various spreadsheets of data.

    TAGS: internships, compensation, trends, salaries

    Current interns will likely earn less than their 2010 counterparts, according to a new report from NACE.

    NACE’s 2015 Guide to Compensation for Interns & Co-ops, based on results from NACE’s 2015 Internship & Co-op Survey, shows that the current overall average hourly rate for bachelor’s degree-level interns, adjusted for inflation to 2010 levels, is $15.98. In comparison, the average hourly rate for interns was $17 in 2010.

    In terms of real dollars, intern salaries fell from 2010 through 2012 to $16.21, and then started to rebound. The current rate is $17.20, a sizable increase from the 2014 average of $16.35.

    Not surprisingly, engineering and computer science majors command the highest internship salaries ($20.04 and $18.79, respectively). By industry, wholesale trade, management consulting, and oil and gas extraction companies pay the the highest hourly wages.

    Data for the guide, provided by 241 NACE-member organizations representing more than 70 industries, were gathered December 3, 2014, through January 30, 2015. The guide, along with overall results from the survey, will be available in April.