Despite a drop in the number of internships (employers report a nearly 21% reduction) this year, the pay offered to college interns is (somewhat paradoxically) expected to rise 4.9% on average over last year, according to the 2009 Experiential Education Study published by the National Association of Colleges & Employers (NACE).
The average bachelor's-degree-level intern will be offered an average hourly wage of $17.13. Intern pay levels do, however, range substantially depending on a host of factors including employer industry and location, year of study (i.e., juniors earn more than sophomores) and major field of study.
The following table shows average hourly wage for interns by field of study from the NACE report:
According to NACE, nearly all the employers participating in their survey report that they pay their interns. As someone personally acquainted with a number of college students, many of whom are still nailing down their summer internships, I know that - at least in my marketplace - there are a number of unpaid internships being offered this summer.
Considering unpaid internships at your organization? Then you'd better first check out the rules and legal ramifications, explained here at the Ohio Employers Law Blog.
Image: Creative Commons Photo "MIB" by KellyB