• Hourly Wages for Interns and Co-ops Stable

    Spotlight for Career Services Professionals
    Spotlight for Recruiting Professionals
    April 2, 2014

    The average hourly wage rate for interns at the bachelor’s degree level is $16.35, a slight increase over last year’s wage rate of $16.26, according to results of NACE’s 2014 Internship & Co-op Survey.

    Likewise, the wage rate for interns at the master’s degree level also climbed slightly to $22.58, up from $21.90 reported last year.

    For co-op students, the average hourly wage rates show larger gains than they do for interns. The average hourly wage for a bachelor’s degree co-op is $17.44—a jump from $16.23 last year—while the average hourly wage for a co-op at the master’s degree level stands at $25.04, compared to $20.58 last year.

    Class year makes a difference in hourly wage rates for interns and co-ops. For example, freshmen interns at the bachelor’s degree level earn an average of $15.05 per hour, while senior interns average $17.94 per hour. (See Figure 1.)

    The difference is even more pronounced among co-ops; freshmen at the at the bachelor’s degree level earn $15.17, while their senior counterparts earn an average of $19.24.

    NACE’s 2014 Internship & Co-op Survey was conducted November 18, 2013, through January 24, 2014, among NACE employer-member organizations; 264 organizations participated. The 2014 Internship & Co-op Survey report will be available this spring.

    Now available: The 2014 Guide to Compensation for Interns & Co-ops, which features in-depth information regarding hourly wages for interns and co-ops gathered through the intern/co-op survey, is available. For details, see naceweb.org/salary-resources/internship-co-op-compensation.aspx. (Note: If you or someone in your membership group participated, you will find the 2014 Compensation Guide in the Research Reports section of MyNACE.)

    Figure 1: Average intern and co-op hourly wage rates, by degree and year of study

    Degree and year of study Average intern hourly wage rates Average co-op hourly wage rates
    Bachelor's degree, freshman $15.05 $15.17
    Bachelor's degree, sophomore $16.10 $16.74
    Bachelor's degree, junior $17.19 $17.93
    Bachelor's degree, senior $17.94 $19.24
    Master's degree, first year $22.21 $23.46
    Master's degree, second year $23.06 $26.82

    Source: 2014 Internship & Co-op Survey, National Association of Colleges and Employers