Are you considering an internship?
With the growing competition for jobs in the job market today, an internship can be a great way to gain hands-on experience, build your network, and set yourself apart from other applicants.
But before you jump in, it’s wise to understand the current internship landscape.
Here are 15 interesting internship statistics for 2023 that will give you an idea of what to expect from your internship experience.
From the industries most likely to offer internships, to the length of an average internship, to the most important skills employers look for in an intern, this guide will help you prepare for your next internship application.
15 Interesting Internship Statistics in 2023
- Unpaid internships account for more than 40% of all internships
- Internship experience increases the likelihood of receiving at least one job offer after graduation by 35% for students and young professionals
- A remote internship program is acceptable to 84% of students
- 31% of people begin internships after graduating from college
- Individuals with internship experience report higher earnings of 15-17% more than those without
- Virtual internships have been adopted by 40% of businesses
- 70% of interns have a negative perspective toward remote work
- 75.5% of unpaid interns are women
- Google interns earn a monthly salary of $6,500 on average
- 64% of student internships that have been canceled did not provide any form of alternative placement
- Paid internships are 52% more likely than unpaid internships to result in a full-time job offer
- 60% of the interns would like to have daily 5 – 10 mins check-ins
- Non-profit organizations (54.7%), government agencies (22.7%), and for-profit organizations (about 23%) are among the institutions that provide unpaid internships
- Interns at major technology companies are well compensated
- Approximately 2% of interns completed six or more internships
1. Unpaid internships account for more than 40% of all internships
(CNBC)
A significant proportion of internships out there are unpaid.
Unpaid internships can be offered for a variety of reasons.
Some companies offer unpaid internships as a way to provide students and recent graduates with valuable work experience and exposure to the industry, without having to pay a salary.
Additionally, some employers may not have the budget to pay interns, or they may prefer to invest their resources in other areas.
Most times, when it comes to the percentage of paid vs. unpaid internships, some legal experts believe that unpaid internships are not only unfair but also illegal because interns are required to work long hours without pay.
There are also legal requirements that determine whether an internship can be considered unpaid. In the United States, internships must meet certain criteria under the Fair Labor Standards Act (FLSA) to be considered legal and unpaid.
If an internship meets the criteria under the FLSA, it must be primarily educational in nature, with the intern receiving training and learning new skills, and the employer not deriving any immediate advantage from the intern’s work.
2. Internship experience increases the likelihood of receiving at least one job offer after graduation by 35% for students and young professionals
(Zippia)
Internships are designed to provide adequate job experiences for students, employees, and job seekers to learn more about how a work structure looks in the real world.
Internships can be a valuable experience for students and recent graduates, as they provide an opportunity to gain real-world experience and develop professional skills in a particular field.
It also allows students to demonstrate their skills, work ethic, and interest in a particular industry or company, making them more competitive in the job market.
They can demonstrate to employers that the candidate has relevant experience and is a good fit for the company.
Moreover, internships can also help build a network of contacts and provide exposure to potential employers.
This is what most employers and company owners look for, and hence this is why those with internship experiences receive more job offers than those without.
3. A remote internship program is acceptable to 84% of students
(Handshake)
Because of the Covid19 pandemic, more students are willing to participate in remote internship programs.
Remote internships allow students and recent graduates to work from anywhere, providing greater flexibility and the ability to balance work and personal commitments.
This means providing students and recent graduates with access to a wider range of internship opportunities, regardless of their location.
It can reduce the stress and time commitment of commuting, allowing interns to have a better work-life balance.
One more point is remote internships allow students and recent graduates to interact with professionals from different geographic locations and industries, expanding their professional network.
4. 31% of people begin internships after graduating from college
(Nasdaq)
When it comes to interns, many people consider them to be college students who have yet to earn a degree. Contrary to popular belief, interns are not all students.
According to Nasdaq, roughly 31% of interns begin working as interns after graduation.
Post-graduate internships provide recent graduates with an opportunity to apply the knowledge and skills they gained in college to real-world situations, gaining valuable and practical experience in their field of interest.
It also allows recent graduates to connect with professionals in their field, build relationships, and expand their professional network.
5. Individuals with internship experience report higher earnings of 15-17% more than those without
(Thomas, Katherine, and Maria)
Internships at reputable companies provide individuals with skill sets that will influence their future careers, including their salary. Internships provide individuals with the opportunity to effectively demonstrate their skills, work ethic, and interest in a particular industry or company, making them more attractive to potential employers.
This reduced risk in hiring a job applicant with internship experience translates into a higher likelihood to have higher earnings that the next job applicant with no internship experience.
Internships also provide individuals with exposure to the industry, enabling them to gain a deeper understanding of the field and making them more valuable to employers.
6. Virtual internships have been adopted by 40% of businesses
(CNBC)
As a result of the pandemic that affected the global economy, more businesses and corporations have begun to offer virtual internships.
It provides employers with the opportunity to select the best candidate for the job because there will be more applications to choose from.
There is no need to provide physical space and other resources to the intern, reducing costs associated with traditional internships.
Virtual internships allow for a flexible work schedule, making it easier for businesses to accommodate interns.
Virtual interns can often work on projects independently, reducing the need for close supervision and increasing productivity.
Lastly, virtual internships allow businesses to tap into the technology and skills that are unique to a younger, tech-savvy generation.
7. 70% of interns have a negative perspective toward remote work
(CNBC)
The majority of employees prefer to work from home. Interns, for the most part, disagree.
According to a Glassdoor study, 70% of interns have a negative attitude toward remote work.
Remote internships can lack the structure and routine of in-person work, leading to feelings of isolation and a lack of direction.
Remote internships can make it more difficult to build relationships with coworkers and mentors, which can be critical for interns to gain experience and learn from others.
Also, remote internships may not provide the same opportunities for professional development as in-person internships, as they may not have access to all of the resources, events, and experiences that in-person interns do.
Some interns may have difficulty adjusting to the demands and responsibilities of remote work, particularly if they are new to working in this type of environment.
Lastly, technical issues can arise when working remotely, such as connectivity problems or software compatibility issues, which can negatively impact the internship experience.
8. 75.5% of unpaid interns are women
(Center for Research on College-Workforce Transition)
This phenomenon is driven by several factors, including women being more likely to come from lower-income backgrounds and may be more inclined to work as unpaid interns;
Women are often steered toward lower-paying fields and industries, where unpaid internships are more common;
In some countries and cultures, women may face gender biases in the workplace that make it more difficult for them to secure paid internships and entry-level positions.
9. Google interns earn a monthly salary of $6,500 on average
(Yahoo Finance)
Google LLC ranks third on the list of the highest-paying internships.
Google is a highly sought-after company, and its interns are said to be one of the best in the industry, and thus are highly coveted.
If you manage to even pass Google’s internship interviews, that means you are already one of the best around.
This naturally follows that Google will be inclined to pay top-quality interns with top compensation.
Google is known for offering attractive compensation packages to its employees, including competitive salaries, bonuses, and benefits.
Interns are no exception, and they often receive competitive compensation packages to reflect the high value that Google places on their contributions.
10. 64% of student internships that have been canceled did not provide any form of alternative placement
There can be several reasons for this. The company may be facing financial constraints and thus, may not have the budget to support internships.
Businesses are less sanguine about their future operations, with the ongoing Russia-Ukraine war, high inflation and the constant issue of Covid19 virus mutations popping up in their rearview mirror. This might lead to a shortage of projects or work available, leading to the cancelation of internships.
With the pandemic, some companies might have shifted to remote work, which may affect the availability of in-person internships. Hence those having in-person or on-site internships might be facing those cancellations.
The pandemic may also lead to a decline in the overall business, resulting in the cancelation of internships, or the company may have decided to focus on other initiatives, and internships may no longer be a priority.
11. Paid internships are 52% more likely than unpaid internships to result in a full-time job offer
(Zippia)
Companies that pay their interns are making a financial investment in them, indicating a level of commitment to their success and future with the company.
Paid interns are often given more meaningful and challenging projects, providing them with a more comprehensive and hands-on learning experience.
Paid interns are often given a full workload, allowing them to demonstrate their abilities and prove their worth to the company.
12. 60% of the interns would like to have daily 5 – 10 mins check-ins
(Yello)
Interns may want to receive feedback on their performance, to know what they’re doing well and where they can improve.
Such check-ins can provide clarity on expectations, goals, and tasks, allowing interns to stay on track and focused on their objectives.
Interns may want to receive guidance on their career development and how they can best prepare for their future careers.
Also, check-ins can foster engagement and motivation, as interns feel supported and valued by their supervisors.
Moreover, check-ins provide an opportunity for open and ongoing communication, allowing interns to ask questions, express concerns, and receive support from their supervisors.
13. Non-profit organizations (54.7%), government agencies (22.7%), and for-profit organizations (about 23%) are among the institutions that provide unpaid internships
(Center for Research on College-Workforce Transition)
Internship statistics clearly show that not all internships pay.
Sometimes the reasoning is obvious.
Non-profit organizations frequently offer unpaid internships, accounting for 54.7% of companies that do not pay interns.
This is usually due to funds being directed to causes rather than individuals.
Government agencies are the second-largest employer of unpaid interns.
They are responsible for 22.7% of employers who do not pay their interns.
14. Interns at major technology companies are well compensated
(GlassDoor)
Working as an intern for a major technology company can result in competitive pay. Meta’s internship pay is $8,000 per month, while LinkedIn pays $7,500 and Microsoft pays a median of $7,366. Meanwhile, Amazon interns are paid $8,000 per month.
Major technology companies are in high demand, and there is a lot of competition for top talent. Offering competitive compensation is one way to attract and retain the best interns.
Also, many technology companies require highly skilled interns with specialized technical abilities, and they are willing to pay top dollar to attract this talent.
Typically, technology companies have a culture of valuing and investing in their employees, and this extends to their interns. Offering competitive compensation is a way to show this commitment.
Technology companies are often at the forefront of cutting-edge technology and are in high demand for their services. This demand allows them to offer high compensation packages to attract the best interns.
Major technology companies often see internships as a way to identify and cultivate future talent, and they are willing to invest in these interns through competitive compensation packages.
15. Approximately 2% of interns completed six or more internships
(Chegg)
Senior internship statistics reflect the importance placed on internships.
While some people never apply for internships, 2% of students complete six or more.
Approximately half of all interns work only one internship, while the other half work multiple. Approximately 27% do two internships and 13% do three.
Conclusion
Internships are a critical component of long-term career success, no matter how you slice it.
Apprenticeships and internships are critical for college students and young professionals seeking full-time employment, landing a job, and earning a competitive salary and benefits package.
Today, more than half of all interns are hired by the same company where they interned, indicating a direct link between completing an internship and landing a full-time job.
Internships play a crucial role in shaping the future of young professionals.
They provide hands-on experience, opportunities for skill development, and a chance to build valuable connections within the industry.
Whether paid or unpaid, internships offer a valuable learning experience that can lead to a full-time job offer or help in making informed decisions about future career paths.
As the job market evolves and competition increases, internships continue to be a valuable asset to young professionals seeking to build their careers.
In today’s fast-paced and rapidly changing world, internships provide a unique opportunity to gain real-world experience, demonstrate dedication and drive, and establish a foundation for a successful future.
People Also Ask
Do internships help you land a job?
Yes, internships can help you land a job. Even interns who are not offered a job with the company where they interned report higher rates of employment after graduation.
Do unpaid internships look unprofessional on a resume?
No, unpaid internships do not reflect poorly on a resume. In fact, you should not state on your resume whether or not your internship was paid. Your prospective employer should be satisfied as long as it was a legitimate work experience and your former employer can confirm that the job responsibilities listed on your resume are correct.
How legal are unpaid internships?
Unpaid internships are legal, but only if the employer complies with certain requirements. Internships without compensation are entirely legal in the public and nonprofit sectors. When for-profit businesses provide unpaid training positions, things become unclear.
Do most internships pay?
Not all internships are paid. It depends on the company and industry in which the internship is located. In some industries, such as technology or finance, internships are more likely to be paid. In other industries, such as non-profit organizations or government agencies, internships may be unpaid or offer a stipend. In the United States, unpaid internships are only legal if they meet certain criteria, such as providing educational benefits and not displace regular employees.
What are the benefits of an internship?
- Hands-on experience: Internships offer the opportunity to gain practical experience in a specific field, which can help students and recent graduates develop skills that are valuable to future employers.
- Networking opportunities: Internships provide the chance to build relationships with professionals in your field and make connections that can be helpful in finding future employment.
- Career exploration: Internships can help individuals determine if a particular career path is a right fit for them and provide valuable insights into various industries.
- Resume building: An internship can enhance your resume and demonstrate to potential employers that you have relevant experience and a strong work ethic.
- Increased earning potential: Studies have shown that individuals who complete internships have a higher starting salary and better job opportunities compared to those who do not.
Source:
Center for Research on College-Workforce Transition
