A summer internship gives students a leg up in the job market, providing them with real-world experience and salary information. The average salary for summer interns is typically higher than what they may make after graduation, especially if they intern in a field they later choose as a career.
A Summer internship is a possible opportunity you have to gain professional experience and learn more about the field. Internships offer an advantage to students who have limited work experience. If you are an undergraduate student looking for internships in summer, your first step is to make a list of companies that interest you.
The average salary for a summer internship ranges from $1,200 to $1,800 per month.
Salary For Summer Internship Overview
Summer internships are a great opportunity to get your foot in the door, but it’s important to know what to expect.
First, you need to know your salary. While some companies offer paid internships, others don’t—or at least not yet. If you’re going into an internship expecting that it will be paid, ask about the possibility of getting paid before you apply. If you’re applying for an unpaid internship and your employer offers benefits like health insurance or a stipend for food and transportation, that can help offset any costs associated with the internship.
Second, you should think about what kind of work you’ll be doing during your internship and whether or not it’s relevant to what you want to do after graduation. For example, if you’re majoring in engineering but want to work as an architect after college then consider getting an architecture internship over an engineering one during the summer between freshman and sophomore year. It will give you experience in the field while allowing time for other classes and extracurricular activities before making any decisions about where your career path might lead after graduation.
What Is A Summer Internship
From picking up everyone’s coffee orders to refilling the paper in the copier machine, student internships can be a great education. We’re only kidding about the coffee and paper, by the way. Generally, you’ll earn some great experience during your internship.
Student internships generally take place while the intern is still a student and is able to earn school credit for their time. Not every student internship pays more than credit, but there are some unicorns in this field.
Since a lot of entry-level positions require you to have earned some experience already, a student internship is a great way to show a potential employer that you know what you’re doing. Typically, a student internship only lasts a semester. So not a whole lot of experience. But definitely a lot better than no experience.
How to Negotiate Your Salary for a Summer Internship
A summer internship will give you valuable experience in your chosen field and in salary negotiations. The first time you enter the bargaining process can be intimidating. Calm your nerves by thinking of it as a learning experience that will help you for years to come. Having the ability to ask for what you are worth is a priceless commodity.
Is There Room to Negotiate?
The first step is to consider whether you have any negotiating room. Many companies have pre-designed summer internship programs that come with a specific rate or stipend, while others may pay by the hour, week or month. There is no point in negotiating an internship salary if the rate is fixed – at best, you are wasting your time, and at worst you are showing your naivety around company budgets. Internships without a particular salary already assigned to them may give you more room to bargain.
Check the Going Rates
Research similar internship positions to determine the average compensation. Salary guides such as The Riley Guide will provide documented compensation information, and salary information is freely available on salary compilation websites like Payscale and job sites like Indeed. For example, Indeed reports that the average internship rate is $14.03 per hour in October 2020, so you could use that as a starting point when negotiating an internship salary. You will have more negotiating power if the salary for your summer internship falls below average.
Review Your Skills
Create a list of how your past experience will lend to the current internship. For example, put each position you have held on the left side of the page and list the corresponding relevant skills on the left. Your skills and abilities are valuable tools when negotiating a salary. A greater level of experience means the company can spend less time on training, which will save it money and resources.
Arrange a Meeting
To negotiate salary, email is not the best forum. Ideally, you will request a meeting with the hiring manager to discuss the salary face to face. Practice your arguments before the meeting so you can speak with confidence. Present your research data and calmly explain why you think you deserve a specific salary, and be ready to compromise when necessary. Demanding a specific amount of money for two to three months of work will likely work against you. Be flexible and allow the employer to make a counter-offer and settle on a fair amount of compensation.
