Internships have become a key component of professional development for students and recent graduates.
They provide valuable hands-on experience, networking opportunities, and the chance to gain insight into different industries.
But just how beneficial are internships?
In this article, we’ll take a closer look at the statistics surrounding internships and explore the impact they have on career outcomes.
From the most popular industries for internships to the percentage of interns who go on to receive job offers, we’ll delve into the data to uncover the truth about the value of internships.
Internship Statistics: General Stats
- In the US, there are more than 300,000 interns per year.
- There are 60.80% paid internships and 39.20% unpaid internships in the US.
- 60% of recent graduates and college freshmen complete an internship.
- More than 70% of interns receive a job offer from the organization where they interned. 14% of these job openings are part-time, and 50% of them are full-time.
- According to the research fom StandOut CV, 21.5% of the college students do an internship.. (Appprox 4.17 million students)
- It is estimated that there will be around 4.1 milliion internships in the USS in 2023.
- As per the data from StandOut CV, two in five internships in the US are unpaid. This means there will be around 1.66 million unpaid interns by 2023.
- 31% of student interns start their internships after finishing college.
- The average of the the interns is 17 years old.
- Almost 67.15% of the interns are white.
- According to the research fromm StandOut CV, two in three interns (66.4%) secure a full-time job. It is also stated that they will have $15,000 higher salary then who who did not do an internship.
- 70% of firms offer successful interns long-term, full-time positions.
- Your likelihood of finding work after graduation increases by 85% if you complete an internship.
- Internship completion increases employment offers to students by 16% compared to those who don’t.
- There are 57% full-time employment offers.
- Not knowing where to look for internships was the primary deterrent for 59.4% of people. (2021 NSCI Report)
- The selection process for interns typically takes eight and a half months. (NACE, 2021)
- The most typical method of finding potential interns is through open applications. (NACE, 2021)
- 60% of the participants spent the majority of their time managing and doing analyses. (NACE, 2021)
- 67.9% of students take part in internships in order to get experience in a particular field of work they hope to follow. 24.8% participate in internships to learn more about potential careers. (2021 NSCI Report)
- An intern can make up to $20.76 per hour on average, much like in the United States of America.
- In the US, almost 39.2% of internships are unpaid work..
- More than 60.8% of internships provide pay.
- Data from zippa.com show that 56% of all interns obtained employment offers from the organization they interned for.
- After completing their internship, part-time jobs are offered to more than 14% of all interns in the US.
- After finishing their training time, about 70% of interns in the US receive a job offer from the organization where they interned.
- At the company where they interned, 80% of interns who receive job offers accept them.
- The fact that over 14% of businesses say they use signing bonuses to turn interns into full-time employees may be the cause of the high acceptance rates for intern positions.
- Less than 20% of US interns are given the option to join an insurance program sponsored by their company.
- Financial services are the most popular industry for interns accounting for 19% of the internships.
- Regardless of whether they are paying or not, 18% of firms give health insurance to their interns.
- 31% of students start internships after graduating from college, per statistics from FinancesOnline.
- In 2020, more than 64% of companies ended their internship programs. (CNBC)
Let’s have a look at the internships taken in America over time.
|Graduating Year||Total Student enrollments in millions||Estimated number who completed internships (millions)|
|2012||21.57 million||4.63 million|
|2013||21.14 million||4.54 million|
|2014||20.84 million||4.48 million|
|2015||20.66 million||4.44 million|
|2016||20.4 million||4.38 million|
|2017||20.23 million||4.34 million|
|2018||20.13 million||4.32 million|
|2019||20 million||4.3 million|
|2020||20 million||4.3 million|
|2021||19.35 million||4.16 million|
|2022||19.3 million||4.15 million|
|2023||19.1 million||4.1 million|
Average Length Of Internship
- Four and a half months is the typical length of an internship. (2021 NSCI Report)
Following is an average range of internships that employers want:
(Source: High Scholars)
|Average Length||Percent Of Employers|
Internship Statistics: Payment Wise
- A college graduate with internship experience may expect to make an average beginning salary of $47,470.
- Conversely, college grads with scant work experience and little to no internship experience are more likely to find themselves unemployed and earning the $37,330 median yearly pay.
- According to data from Zippa, entry-level workers who have completed internships make about 6% more money than their counterparts who have not.
- From 2019 to 2020, the average hourly wage for interns increased by 6.2%.
- The typical internship wage for those with a bachelor’s degree is $19.05 per hour. (NACE)
- People who have completed paid internships often expect to earn $10,000 more per year than unpaid interns or non-interns. (NACE)
Paid Internship Statistics
- More than 60% of internships give compensation. (Internships at Chegg)
- Paid internships are 52% more likely than unpaid internships to lead to a full-time job offer.
- According to the experts’ assessment, businesses are more inclined to provide paid internships in order to attract fresh talent and keep dependable and motivated full-time employees.
- The intern report claims that receiving compensation during your internship can greatly impact your ability to receive job offers and full-time employment.
- In the US, interns made an average of $2.76 per hour in 2020. Since 2019, when intern hourly salaries stood at $19.54, the rate has climbed by $1.22.
- While Microsoft pays a median rate of $7,366 and LinkedIn pays $7,500, Meta’s internship rate is $8,000 per month. While at Amazon, interns are paid $8,000 per month.
- Roblox offers the highest-paying internships, with an average salary of $9,667 per month. (2022, Glassdoor)
- Compared to only 26% of part-time interns, 71% of full-time interns were paid. (NBER, 2020)
- Paid internships had a 66.4% job success rate, compared to 43.7% for unpaid ones. (NACE, 2019)
- Leading tech firms like Amazon, Meta, Microsoft, Apple, and Google also offer highly-paid internships. (2022, Glassdoor)
- 62.4% of survey participants expressed satisfaction with their pay. (CCWT, 2020)
- Employers only give signing bonuses in 14% of cases. (NACE, 2021)
- A signing bonus is typically just around $2,500. 2020 (CompareCamp)
- Less than 18% of businesses provide medical insurance, whereas 26% offer 401(k) plans. 2020 (CompareCamp)
- As 88% of the next generation workforce places meaning over money, company culture is crucial. (Tallo, 2021)
Let’s have a deeper look at the highest-paying internships in the US.
|Company||Median Monthly Rate|
|Back of America||$5,833|
- The average monthly salary paid by Amazon to its interns is $7,725.
Unpaid Internship Statistics
- In the US, more than 40% of internships are unpaid.
- The majority of unpaid positions—39.3%—are in the government, non-profit, and social service sectors.
- Every year, an estimated 500,000 Americans work as unpaid interns. (CompareCamp)
- Non-profit organizations (54,7%), government agencies (22,7%), and for-profit organizations (approximately 23%) are among the institutions offering unpaid internships.
- 43% of workers weren’t paid for their efforts. (CCWT, 2021)
- Candidates who apply for unpaid internships are more likely to receive responses from employers. (NBER, 2020)
- A million to half a million Americans work for no pay. 2020 (CompareCamp)
Salary Expectations For An Internship
Students and recent graduates can acquire confidence before entering the workforce by gaining practical work experience. As a result, an internship increases their confidence in their skill set and financial demands.
- A U.S. intern typically makes $20.76 per hour. (NACE, 2021)
- College grads with internships earn up to 12% more than those without. 2020 (CompareCamp)
- Paid interns should anticipate to make between $50,000 and $55,000 annually, which is a higher compensation expectation. (NACE, 2019)
- For unpaid interns and students without internship experience, the typical compensation expectation for the position is $40,000 to $45,000 annually. (NACE, 2019)
Following is the data on how internships impact the median starting salary.
|Internship||Median starting salary range (low)||Median starting salary range (high)|
Intern Employment Stats
- After completing their internships, 70% of interns are hired by the same business.
- Seven out of ten firms offered full-time employment to their on-site interns. (NACE, 2021)
- 20% of interns reject job offers from organizations where they interned.
- It has been observed that the majority of interns succeed in landing a full-time position following graduation.
- After graduating, 35% more students or young professionals with experience than those without internship experience are more likely to receive at least one job offer.
- According to Zippa.com data, 53.2% of graduating seniors are more likely to receive at least one job offer.
- Around 57.5% of graduates who receive job offers have completed at least one internship. At the same time, 42.5% had never completed an internship.
- If a job applicant has at least some internship experience, their chances of being hired increase just a little.
- The majority of respondents—36.4%—reported being extremely satisfied with their internships. (2021 NSCI Report)
- Following a virtual internship, 80.5% of businesses offered a full-time position. (NACE, 2021)
- Even 85% of job hopefuls refuse to list canceled internships on their resumes, claiming a lack of knowledge and abilities as the primary excuse. 2020 (CompareCamp)
- In-house intern retention rates might reach 43.9% after five years. (NACE, 2021)
- Employees who interned at another company have a five-year retention rate of 37.3%. (NACE, 2021)
- Compared to those who did not intern, those who did receive 16% more employment offers. 2020 (CompareCamp)
Following is the detailed guide on the intern base salaries by job.
(Source: StandOut CV)
|Job Function||Hourly Pay (Lower)||Hourly Pay (Mean)||Hourly Pay (Upper)|
|Finance- Investment Banking||$10.00||$30.61||$55.00|
|Operations and Production||$12.00||$20.44||$30.00|
|Marketing and Sales||$11.50||$18.51||$26.00|
Internship Industry Statistics
- According to the NACE 2019, corporate intern hiring begins eight months before the internship begins.
- The tech sector will host nine out of ten of the highest-paying internships in 2022. (2022, Glassdoor)
- Most legislative offices pay their interns over 90%.
- The majority of US legislators use government-allocated monies to compensate their interns.
- The average monthly compensation for interns working in the Senate is $1,986.755, while the average monthly stipend for interns working in the House of Representatives is $1,612.53.
- It should be highlighted that 76% of paid congressional interns are white and attend private colleges, despite the fact that most political interns are compensated.
- The highest pay rates are offered to entry-level employees interning at major tech firms in the US.
- When it comes to paying interns, IT businesses top the list. LinkedIn, Facebook, and VIDIA now offer the top three highest-paying internship programs. At these three major tech companies, interns typically make more than $8,000 a month.
- The most typical industries requiring internships are those in the legal, political, and accounting sectors.
- 89.4% of congressional staffers have held at least one internship in the past, which is impressive.
- Meanwhile, 80% of employees at large accounting firms like PwC, KPMG, Deloitte, and EY, and 86% of legal clerks have at least some internship experience.
The following are the most common fields that require internships.
|Role||% of Employees Who Have Internship Experience|
|PwC, EY, KPMG, Deloitte||80%|
- About 87% of engineering and computing science students receive paid internships. Enterprise Insider
- A typical engineering internship compensation is $61,380. (2022, Glassdoor)
- Social science, health, and STEM-related fields are more challenging to find internships in than other fields. (2021 NSCI Report)
- In the fields of sales, construction, engineering, and extraction, more than half of interns are paid. (NBER, 2020)
- Law clerks (86%), audit associates (85%), reporters (82%), and analysts (77%) are among the workers with the highest internship rates. 2020 (CompareCamp)
- A third of all insurance agents, realtors, and system administrators worked as interns prior to landing a permanent position. 2020 (CompareCamp)
- In Congress, an internship is attended by around nine out of ten staff members. 2020 (CompareCamp)
- In the U.S. House of Representatives, more than 60% of interns are unpaid. 2020 (CompareCamp)
Internship And Pandemic Statistics
- Statistics on internships show that 46.2% of students think COVID-19 has improved the value of internships. (CareerUp)
- 2% of companies say they have withdrawn full-time job offers. (CNBC, 2020)
- Businesses cut back on internship programs by 64%. (CNBC, 2020)
- In their resumes, 85% of students will not list canceled internships. (Yello, 2019)
- 24 percent of students received the news that virtual internships would be taking their place. 2020 (TechRepublic)
- According to the data from Career Up, in 2020, 14% of students reported that their summer internship transitioned to a remote basis. Moreover, less than 5% said they have interned in person.
- Due to the COVID-19 pandemic, more than 70% of all paid and unpaid internship offers were canceled in 2020.
- The majority of internships across the country were canceled in 2020, according to NACE figures.
- It has been highlighted that between 2020 and 2021, the unemployment rate for college graduates aged 20 to 24 decreased by 46.6%.
- The unemployment rate for college graduates aged 20 to 24 was 9.4% in July 2021, a substantial decrease from the 17.6% rate observed in 2020, indicating that opportunities are now better.
- Additionally, in 2020, 50% of the internship programs were canceled. And the majority of them worked in the tourism and travel sectors.
- In-person positions remain important despite the growth of remote work. Compared to 44.9% who attended online, 47.8% of respondents said they participated in internships in person. (2021 NSCI Report)
- According to CNBC 2020 research, 75% of firms changed their internship program at least once.
- 20% of organizations reduced the number of interns they used for onboarding in 2020.
- Internship rates were between 50% and 60% prior to COVID-19. The recent analysis points to a substantially lower figure of 21.5%. (2021 NSCI Report)
Below data talks about how Covid-19 impacted the importance of an internship.
|Internships Have Become More Valuable||46.25|
|Internships have become less valuable||21.02|
Online Internship Statistics During Covid-19.
- The willingness of students to take part in remote internship programs is 84%. (Related to Camp)
- Virtual internships have become popular with 40% of businesses. (CNBC, 2020)
- 99% of career centers still maintain virtual connections with students. ACE, 2020; National Association of Colleges and Employers.
- 84% of students said they would be open to doing remote internships. 2010 (HR DIVE)
- 67% of students who pursued virtual internships desired daily management check-ins. (Yello, 2020)
- 51% of students who participated in virtual internships expressed relief that their internships were not canceled. (Yello, 2020)
- 22% of individuals who participated in virtual internships expressed concern about the experience level. (Yello, 2020)
- More than 70% interns have a negative perspective towards the remote work, according to the CNBC report.
Highest-Paying States For Interns
- Alaska has the highest average wage in the US, coming in at $46,851.
|State||Avg. Salary||Hourly Rate|
Highest Paying Cities In The US
- The best-paying city for student interns is Boston.
Let’s have a look at the top 15 cities in the US:
|City||Average Salary||Hourly Rate|
Type Of Student Internship By Degree Levels
- A bachelor’s degree is most frequently obtained by interning students. 65% of interning students complete their degrees.
- Associate degrees are in second place with 15%, closely followed by master’s degrees with 8%.
Let’s have a deeper look at the stats on student interns by education.
|Student Internship Degree||Percentages|
|High School Diploma||6%|
- At $38,198 per year, student interns with a doctorate degree make more money than those without.
- Student interns with a Master’s degree make an average of $32,760 per year, as opposed to $31,397 for those with a bachelor’s degree.
|High School Diploma or Less||$29,391|
|Some College/ Associate Degree||$29,949|
How Many Students Do Multiple Internships
- 50% of the students have completed multiple internships.
- Two internships have been completed by more than 27% of students.
- According to data, 3 internships were completed by 13% of students.
- Additionally, 2% of young professionals or students have completed more than six internships.
Internship Statistics By Demographics
There are a number of statistics that break down internship participation by demographic in the United States. Some of the key findings include
Internship Statistics By Age
- A student intern’s age is 44 years old on average.
- The average age of Black and African male students was 36, based on statistics from Zippa.com.
- The average age of Black and African female pupils was also reported to be 45.
The below data states the student internship age by race.
|Race||Male Age||Female Age|
|Black or African American||36||45|
|Hispanic or Latino||32||42|
|American Indian and Alaska Native||42.5|
Internship Statistics By Race
- African-American grads obtained 6% paid and 7.3% unpaid internships, according to data from a 2019 poll on internships.
- White (60.4%) is the most prevalent racial or ethnic group among student interns, followed by Hispanic or Latino (17.8%), Black or African American (9.8%), and Asian (8.1%).
Following are the detailed stats on student internships by race.
|Student Internship Race||Percentages||Average Pay|
|Hispanic or Latino||17.8%||$30,863|
|Black or African American||9.8%||$30,626|
|American Indian and Alaska Native||1.2%||–|
Internship Statistics By Gender And Social Gap
- Women make up 64.7% of all student interns, while men make up 35.3%.
- Women made 93% of what men did in 2021.
- Women are 77% more likely to get unpaid internships.
- There are 6% LGBT intern students overall.
- Every year, almost 750,000 women hold internships. (Related to Camp)
- At the beginning of their professions, sexual harassment will probably affect about 400,000 women.
- According to data on sexual harassment, as soon as a woman starts working, she may encounter or witness this form of abuse.
- The majority, at 75.5%, of people taking part in unpaid internships, are women. College-to-workforce transition research centre.
- 81% of unpaid internships are finished by women. In contrast, men frequently receive paid internships at for-profit organisations.
- Women make $7,404 less each year during business internships than males do. (Graduate School of Business at Stanford)
- The average annual salaries for men and women are $83,676 and $76,272, respectively.
The data shows how men and women predominate in student internship positions over time.
Qualifications And Skills For Internship
- Former interns had a 15% lower unemployment rate and earn 6% more in the first few years after graduation than those who did not intern.
- After graduating from college, 31% of former students start internships.
The following data states the ratio of people starting their internship and when they start.
|Seniors/ Rising Juniors||20.4%|
|1st year after graduation||10%|
|2nd year after graduation||5.9%|
|3rd year after graduation||4.4%|
|4th year after graduation||3.1%|
|5th year after graduation||2.2%|
|6th+ year after graduation||5.1%|
Trends In Internships
- Increases in internship hiring will be seen across a number of areas, including retail, FMCG, and tourism (97%), the nonprofit and public sector (75%), and digital and IT (74%). (ISE, 2021)
- According to predictions, virtual attendance will diminish and the workplace will transition to a hybrid model. (ISE, 2021)
- Both interns and employers aspire to work in inclusive, diverse settings. (2022 internship)
- Choosing an internship is still mostly motivated by career progress. (Actual, 2022)
- There is an increase in internships that stay longer (between six and twelve weeks). (Actual, 2022)
Internship Conversion to full-time jobs
- The average rate of conversion for interns was 66.4% in 2021. This means only two-thirds moved into a full-time position after completing their internship.
Following is the complete data on the internship to full-time employment conversion rates.
(Source: StandOut CV)
|Year||Offer Rate||Acceptance Rate||Conversion Rate|
Intern and Co-op Retention Rates
Let’s have a look at some of the key intern retention rates.
- According to the CNBC report, 69% of the graduates from 2019 got at least one internship.
- As per the reports from the National Association of Colleges and Employers, there are 71.4% of the interns with internal experience have a one-year retention rate.
- Co-op hires with internal experience who has a one-year retention rate are 50.2%.
- Moreover, as per the data from the National Association of Colleges and Employers, 42.4% has a one-year retention rate for hires that had no co-op internship experience.
- According to the College Recruiter 2019, 94.9% of employers say that internships and coops are very important.
Conclusion: Internship Statistics (2023)
In conclusion, internships are a valuable opportunity for students and recent graduates to gain hands-on experience, build professional connections, and explore different industries.
The statistics show that internships can lead to better career outcomes, with many interns going on to receive job offers from their host companies.
However, it’s important to note that not all internships are created equal, and some may not provide the same level of experience or opportunity as others.
Nevertheless, internships are a great way for young professionals to gain a competitive edge in today’s job market and pave the way for a successful career.
What are your thoughts on this? Let us know in the comment section below.
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