Highest-Paying Internships Aren't On Wall Street Anymore
This is the age of the ubiquitous unpaid internship, which last year culminated in three class action lawsuits against movie studio Fox Searchlight Pictures, the "Charlie Rose" show, and publishing empire Hearst. But the best-rated places to intern, Glassdoor.com found, all pay at least $4,000 a month -- and some pay $6,000 a month or more.
Interns make $6,000 a month or more: Microsoft, which was tied in second place, pays its research interns an average of $7,050 a month, and its software development engineer interns close to $6,000. Google, which took the crown for satisfaction, pays its software engineer interns $6,400 a month. And tech companies Amazon, QUALCOMM, IBM, Intel, and Cisco all ranked in the top 20 for satisfaction and pay an average of between $4,000 and $5,000 a month for every intern.
Financial services firms no longer pay interns lavishly: Only a handful of financial companies made the cut: Scottrade, Merrill Lynch, JPMorgan Chase and UBS Financial Services. And only JPMorgan pays an average of over $4,000 a month. The rest fall somewhere between $1,500 and $2,000, which adds up to less than $24,000 a year -- perhaps less than expected for an industry famed for its lavish compensation.
Not only have tech and accounting overtaken the banks in their wining and dining of young talent, but there were a couple of other surprises too. Who would expect to have a better experience and better salary, for example, interning for department store chain Nordstrom over Merrill Lynch?
Check out the best-rated internships below, ranked in order of pay:
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