average intern hourly wage rates, by class

Typically, interns are paid an hourly wage determined by degree level, class year, and academic major. Interns usually fall into the “non-exempt” category due to the nature of their positions. Seniors, according to the 2012 Guide to Compensation for Interns & Co-ops, earn 26.3 percent more than their freshman cohorts. A master’s degree intern is paid 35 percent more than a bachelor’s degree intern.

Students earning engineering and computer science degrees are usually paid higher wages than students in other disciplines, regardless of class year. At the high end, senior engineering students averaged intern wages of $20.79 per hour. Computer science/IT interns earned $19.10 per hour. On the other end of the scale, senior agriculture majors picked up $15.71 per hour, among the lowest average hourly pay rates.

A word of caution: Your interns will talk amongst themselves, so apply your pay scales consistently. keep reading…

Recently, NBC News announced that it would begin to pay its college interns because the network hopes to attract more minority talent.

If you pay your interns, you get a much larger candidate pool. You get students whose parents can support them while they work for free, plus talented students who need to earn tuition money for school.

Who pays their interns and who doesn’t pay their interns? Is it fair to expect a college student (who may have huge educational loans to repay) to work for free or for “the experience?” Does paying an intern pay off for employers?

Here’s your answer, based on research from the National Association of Colleges and Employers. keep reading…