College interns’ hourly wage rates reach highest levels ever

Despite the disruptions caused by the COVID-19 pandemic, the average hourly wage for college interns has increased since last year, according to the results of a report from the National Association of Colleges and Employers (NACE).

NACE’s 2021 Internship & Co-op Survey Report notes that the overall average hourly wage for interns is up $1.22 this year, reaching $20.76. It is the highest hourly wage reported for interns and continues a steady upward climb for average salaries paid to interns that started in 2014. (See Figure 1.)

The fields of study with the highest average hourly wages for bachelor’s-level interns in 2021 are computer science ($23.39), math/statistics ($23.34), actuarial science ($23.30), and engineering ($23.17).

The 2021 Internship & Co-op Survey Report explores key aspects of employers’ internship and co-op programs, including hiring projections, conversion and retention rates, compensation data (wages and benefits), recruiting strategies, and information about program structure. This report also includes historical analyses of the data. Data collection took place from December 9, 2020 to February 5, 2021. There were 227 NACE member respondents, representing 25.7% of eligible member respondents. The survey was also distributed to nonmember companies from which an additional 39 responses were received.

An executive summary of NACE’s 2021 Internship & Co-op Survey Report is available on NACEWeb.

(Source: NACE)