Having experience as an intern increases your chances of finding a well-paid job. Therefore, internship statistics will help you gain more insight into internship programs and possibilities.
Unfortunately, most companies put a halt on their internship programs in 2020 due to the global pandemic and its effects on the whole world. Even so, many students are searching for internship opportunities that will increase their chance of employment in years to come.
Without further ado, let’s delve deeper into useful stats and facts about internships.
Top Internship Facts (Editor’s Choice)
- A completed internship is a deciding factor in an employer’s choice between equally qualified candidates.
- Completing internships increases job offers by 16%.
- Individuals with internship experience generally have a higher salary.
- 31% of people do internships after they graduate from college.
- Tech companies provide 44% of the top-paying internships in the US.
- Nearly half of all internships are unpaid.
- Between 500,000 and one million Americans work as unpaid interns every year.
- 30% of junior and senior college students’ internships were canceled in 2020.
The Value of Internships
There are many opinions about internships, and many people are not sure whether to go down that road. If you’re an aspiring intern, these statistics should help you make an informed decision.
1. Internship programs generally last three to four months.
The length of internships is important because interns should have enough time to adjust and learn. Most enterprises and schools agree that the average internship length is somewhere between three and four months when interns work part-time. However, this time frame can be shorter or longer, depending on the internship program itself and employers.
2. More than two-thirds of future interns are considerate of employers’ situation due to COVID-19.
COVID-19 took a toll on everyone, especially businesses and their operations. As statistics on internships show, 70% of students are disappointed because internships got canceled but understand what employers are going through. Moreover, 26% of students are not happy with that decision, while 4% are relieved that they don’t have to be in close contact with people.
3. Individuals with internship experience generally have a higher salary.
By doing internships at respectable companies, individuals acquire skill sets that will influence their careers in the future, including their salary. As per college internship statistics, graduates who have internship experience earn $2,082 more per year than those without internship experience.
4. Doing internships boosts the chances of getting job offers by 16%.
Individuals who have successfully completed at least one if not more internships get 1.17 job offers on average. This number is significantly higher than the average job offers those without interning experience get, according to internship stats. In fact, it’s 17.6% more than the average number of jobs students without experience got.
5. 31% of people start doing internships after they graduate from college.
When talking about interns, many people consider them to be college students who still haven’t earned a degree. Contrary to popular belief, not all interns are students. Roughly 31% of interns start doing internships after graduation, as intern statistics show.
6. 30% of junior and senior college students’ internships were canceled in 2020.
2020 was a challenging year for all of us. Changes and adjustments had to be made so that we could all stay protected. As a result, many internship programs were affected by the global pandemic. Almost one-third of internships got canceled in 2020, according to internship statistics.
7. A completed internship is a deciding factor in an employer’s choice between equally qualified candidates.
There are several factors that employers take into account when hiring an applicant. As hiring statistics show, employers are more inclined to hire applicants who completed internships within the organization than those who completed internships within the industry. Internship experience within the organization had a 4.6 influence rating on the employer’s decision compared to the same experience within the industry with a 4.4 influence rating.
Being aware of your chances of getting accepted as an intern and what percentage of internships are paid or unpaid are essential pieces of information when deciding on enrollment in such programs. As such, we’ve compiled a list of statistics, focusing on companies and salaries they offer and the chances of getting hired after completing your internship.
8. Nearly half of all internships are unpaid.
When talking about percent of paid vs. unpaid internships, many legal experts consider unpaid internships to be not only unfair but also illegal since interns are required to work long hours without compensation. Ultimately, these unpaid internships exist because the overall benefits a student reaps far outweigh the benefits that a company gains.
9. Between 500,000 and one million Americans work as unpaid interns every year.
Looking into internship trends, there’s an average number of 500,000–1 million Americans working as unpaid interns every year. This is due to the fact that having internship experience helps you get a good job a lot easier. As such, internship programs are sought-after, even if they’re unpaid.
10. Students of color are more likely to get hired for unpaid internships.
According to unpaid internship statistics, African-Americans are more likely to get accepted to unpaid internship programs. The National Association of Colleges and Employers wrote about how racism isn’t a problem that developed overnight and how it affects internship programs. It’s a problem we’ve been facing for decades despite all the efforts to improve the situation.
11. Tech companies provide 44% of the top-paying internships in the US.
Working while in college statistics show that although almost half of the best-paying businesses are tech companies when it comes to internships, these firms prefer hiring individuals who interned at some point. 80.2% of recent hires at Facebook had already completed internships before they got hired.
12. Facebook interns earn a median monthly pay of $8,000.
The multi-billion company is still one of the most popular social media platforms all around the globe. As such, it’s no wonder that the world-famous social media company’s average internship salary is $8,000. In 2019, Facebook had the best-paid internship program in the US.
13. The median rate per month Amazon rewards its interns is $7,725.
As one of the top ecommerce companies around the world, Amazon is not lagging far behind Facebook. This tech company had the second-best paid internship program in 2019, with a median salary of $7,725 per month, according to intern statistics.
14. Google pays interns a median monthly salary of $7,500.
Google LLC is third on the highest-paying internships list. The multinational technology company offers many benefits when it comes to learning useful skills while also compensating its interns with an average monthly rate of $7,500.
15. About 750,000 women work as interns each year.
As seen from internship demographics, there are around 750,000 female interns yearly, and many are unpaid. Let’s say that’s acceptable when companies make an effort to teach interns valuable skills, but it’s a whole different story when they use them as free labor.
16. Roughly 615,000 women are likely to become victims of sexual harassment at the beginning of their careers.
Sexual harassment is a big problem women worldwide face almost daily, especially when we look at internships statistics. Unpaid female interns are even more vulnerable. They aren’t employees and, therefore, aren’t protected by federal law. Things don’t change much after they get employed. As sexual harassment statistics show, 60% have been sexually abused in the workplace.
17. Employers had success in converting their interns into full-time, entry-level hires in 2019.
Converting interns into full-time employees is one of the things big corporations consider when launching their internship programs. Employment internship statistics show that companies had tremendous success when it came to conversion rate in 2019 than in previous years. The overall conversion rate in 2019 reached 56.1%.
18. 84% of students are willing to participate in a remote internship program.
Despite many restrictions due to the global pandemic, most companies found ways to make internships work. Considering the benefits of internships for employers, many businesses switch their on-site internship programs to remote programs, which got mixed reactions from students.
Not everyone sees internships the same way. Some think they’re amazing opportunities, while others are convinced they’re fruitless. Ultimately, gaining work experience through internships seems to be the best way to go about it. No matter if they are paid or unpaid, the impact of internships on career outcomes is positive. Internship programs are designed to prepare interns for their careers, putting them at a greater advantage than other candidates.
As an intern, you familiarize yourself with the working environment while learning useful skills along the way. By completing at least one internship and acquiring crucial skills, you will increase your overall chances of getting hired by big companies in the future.
Frequently Asked Questions (FAQ)
What are the advantages of an internship?
One of the most important advantages of completing an internship is the opportunity to familiarize yourself with the requirements of a specific job. Additionally, people who completed at least one internship program have a higher chance of employment and earn more money than those who didn’t. Doing an internship within an organization is more beneficial than doing an internship within the industry, as employers value such experience more.
What internships pay the most?
In case you are an aspiring intern looking for a well-paid internship, you might be interested to know which companies pay their interns the most. As per statistics on the topic, tech companies account for 44% of the highest-paying internship programs.
However, internship programs at tech companies are the most sought-after internships, meaning that candidates have to do everything they can to stand out. For example, they can accomplish that by doing side projects or excelling in school.
Do most interns get hired?
As a general rule, internship programs are created with the sole purpose of finding talented people and easing them into full-time positions at a particular company. For instance, employment internship statistics show that companies had greater success when it came to conversion rate in 2019 than before. In fact, the overall conversion rate in 2019 reached 56.1%.
Is internship stressful?
Whether internships are stressful is a question every intern has to answer. As a general rule, every person is unique. Therefore, everyone perceives stress differently. However, being an intern certainly isn’t as easy as many people consider it to be. Some of the responsibilities you’ll have as an intern are assisting in daily tasks, job shadowing, attending meetings, performing research, and similar. Internships aren’t meant to be easy; they’re meant to ease you into a full-time job.
Are most college internships paid?
Even though internships should be paid, nearly half of all internships are unpaid programs. Considering the fact that interns work long hours without compensation, many legal experts maintain that such internships are illegal.
Nevertheless, unpaid internships exist because interns gain valuable knowledge they wouldn’t get anywhere else and reap more benefits from internship programs than companies that provide them.
Why do interns get paid so little?
The amount of money interns get varies based on the company where they’re doing internships. Some interns aren’t paid at all, while others are paid a hefty sum. The difference between getting into a paid internship program and an unpaid one is the number of people you’re competing against. Paid internships at multinational companies like Facebook and Google are difficult to land as they have thousands of applicants, as internship statistics show.