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Although the average hourly wage for interns has continued to rise over the past 10 years, due to inflation, it has declined in real terms, according to NACE’s 2026 Guide to Compensation for Interns & Co-ops.
Bachelor’s degree level interns have seen consistent year-over-year wage growth, with the average hourly wage now at $23.35. However, when adjusted for inflation, interns’ average hourly wage is down 3.4% from 2016 to 2025. (See Figure 1.)
Meanwhile, the average hourly wage for co-ops dipped slightly but is up in terms of inflation rates. The current average hourly wage at the bachelor’s degree level now stands at $24.46 for co-op students, down just 33 cents from last year’s report. When adjusted for inflation, however, co-ops’ average hourly wage is up 1.6% from 2016 to 2025. (See Figure 2.)
When establishing salaries for interns and co-ops, there are several steps employers may take to account for market fluctuations and stay competitive, including having a basis for salaries, making adjustments for location, setting intern and co-op salaries annually, and more.
NACE’s 2026 Guide to Compensation for Interns & Co-ops is based on data provided by the employers that responded to NACE’s 2026 Internship & Co-op Survey and reflects wage and benefits provided to interns/co-ops as of summer 2025. There were 284 respondents in all. A total of 192 NACE members responded to the survey, which was conducted from October 15, 2025, to January 4, 2026, for a response rate of 26.1%. The survey was also distributed to nonmember companies, from which an additional 44 responses were received, and 12twenty members, where 48 responses were received. Employer organizations that participate in NACE’s annual internship/co-op program survey can access the full report in MyNACE.
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