Facebook pays interns $11,000 a month: Report

A Facebook employee at its Menlo Park campus in California. The social media giant reportedly topped the list of firms offering the best-paying internships in the US, with a median pay of US$8,000 (S$11,160) a month.
A Facebook employee at its Menlo Park campus in California. The social media giant reportedly topped the list of firms offering the best-paying internships in the US, with a median pay of US$8,000 (S$11,160) a month.PHOTO: BLOOMBERG

SAN FRANCISCO • As workplaces in the US await the arrival of interns to help out on extra projects this summer, among certain companies, the interns will likely be doing more than just getting coffee and making photocopies. Or at least, they will be paid that way.

According to a new report by jobs site Glassdoor, technology firms offered the best-paying internships in the United States, with Facebook topping the list with a median pay of US$8,000 (S$11,160) a month - US$1,800 more than what the social media giant reportedly paid interns when Glassdoor last issued its report in 2014.

Microsoft (median pay of US$7,100), Salesforce (US$6,450) and Apple (US$6,400) were ranked among the top five, with ExxonMobil (US$6,507) being the only non-tech company in the group at third spot, Bloomberg reported.

Among the top 25, the list remained heavily technology-focused, with 16 of the top 25 companies being in tech or tech-related fields, while the rest were in finance, oil and gas, and consulting.

At all but three of the 16 companies that made repeat appearances from 2014, the median pay went up, sometimes sizeably, with seven seeing percentage increases of 10 per cent or more.

Interns are "doing real work with real deadlines and very high expectations", said Mr Scott Dobroski, Glassdoor's community expert, in an interview with the Washington Post. "But they are getting hired at a level that is much more than the average US worker."

The study found that the 25 best-paying companies for internships each paid their median summer worker over US$4,500 a month.

That amount, if it was paid over the course of a full year, would be north of US$54,000, exceeding the median annual pay for a US worker, according to Glassdoor, whose own local pay comes up to US$51,350.

The US national average wage index is US$48,098, or about US$4,000 a month.

Banks did not rank nearly as high as the tech companies, with Bank of America's median monthly pay at US$4,570, and Deutsche Bank offering US$4,640, the Glassdoor study reported.

Glassdoor's analysis was culled from self-reported salary numbers offered by current or recent interns (those who have completed an internship within the past year), and included only companies that have at least 25 reports.

Mr Dobroski said that some companies well known for offering high summer pay - investment banks, say, or law firms - might not be represented if there were not enough salary reports from interns to meet the sample size. That was the case with firms such as Goldman Sachs and Skadden, Arps, Slate, Meagher & Flom, he said.

The study generally echoed a survey of Silicon Valley interns conducted last year by University of California at Berkeley student Rodney Folz, whose data focused on internships in the engineering, management and design sectors.

A version of this article appeared in the print edition of The Straits Times on May 04, 2017, with the headline 'Facebook pays interns $11,000 a month: Report'. Print Edition | Subscribe