Getting a high-paying job can be tough especially after the completion of graduation as you don’t have any skills or experience and that’s where an internship comes in.
An internship can be a game changer for you if you get the right one as it helps you to build the solid skills that the market demands and gain the real-life work experiences that companies need in an individual to give them a full-time job opportunity.
Knowing the facts like how many students get internships what type of role pays the highest and how internships can impact your future career can give you a big advantage.
In this article, I have shared important internship statistics and facts that show why internships matter and how you can use this opportunity to make a stunning career in the professional world.
So let’s dive deeper into this and understand everything about internship statistics.
Top Internship Statistics 2024
- 70% of interns are hired at the same company they interned with. (NACE)
- 39.2% of internships in the U.S. are unpaid, while 60.8% are paid. (Flair.hr)
- Paid internships are 32% more likely to lead to full-time employment than unpaid ones. (Zippa)
- Students with internship experience are 35% more likely to receive at least one job offer.
- Intern hiring was projected to increase by 22.6% for the 2021-22 academic year. (NACE)
- 52% of employers plan to increase intern hiring, and 64.8% expect to provide their interns with a hybrid experience. (Forage)
- 59% of interns are paid and interns earn a median starting salary of $67,500, compared to $45,000 for unpaid interns. (NACE)
- Estimated 4.1 million paid internships and 1.64 million unpaid ones in 2023. (Standout CV)
- Financial, accounting, and consumer packaged goods industries offer 36% of internships. (Flair.hr)
- 64% of companies globally stopped offering new internships during the pandemic. (CNBC)
- The mean hourly wage for a paid intern with a bachelor’s degree was $19.05 in 2019. (Most Network)
- Internship opportunities are denser in large metropolitan areas along the U.S. coasts and the upper Midwest.
- Paid internships are less common in coastal regions compared to the central U.S.
Internship and Durations Stats
- Summer internships typically last around 12 weeks. (College Boxes)
- Semester-long internships often span four months (around 16 weeks)
- The average internship lasts approximately 18.3 weeks, equating to about 128 days or roughly 1,038 working hours (Standout CV)
- Internships can range from a few weeks to several months, with many summer internships typically lasting between 10 to 12 weeks. (Forage)
- Many internships are designed to align with academic semesters, often lasting around 15 weeks when tied to college credit.
- 41% of college students have had an internship during their bachelor’s degree; 62% of graduating seniors completed an internship. (Gallup)
- Over half of those who complete an internship do more than one; 13% complete three internships, and 2% complete six or more. (Flair.hr)
Job Offers and Retention Statistics
- Internships save companies globally $2 billion each year. (Flair.hr)
- Employers typically recruit interns eight months before the start date. (Weber State Unviersity)
- Interns increase a company’s retention rate, with 71.4% staying at least one year. (NACE)
- 75.5% of interns stay with their company after the first year on the job. (Forbes)
- Approximately 60-70% of interns receive a full-time job offer after completing their internship.
- Around 50% of interns accept these offers and stay with the company after graduation. (Get Remotely)
- The retention rate for former interns is higher, with 40-50% of those who accept offers remaining at the company for more than five years.
- Employees who were former interns tend to stay at a company longer than those hired directly. (allwork.Space)
- Higher quality internships, with clear responsibilities and growth opportunities, lead to higher job offer acceptance rates. (NACE)
- Structured internship programs show 15-20% higher retention compared to unstructured ones. (allwork.Space)
- 74% of interns globally receive a permanent job offer from their internship company. (Enterprise Apps Today)
- 66.4% of interns secure full-time employment post-internship, often earning $15,000 more than those without internships. (Standout CV)
- Interns who have completed internships receive an average of 1.17 job offers, while those without internships receive 0.98 offers. (Independent Educational Consultants Associations)
- Over 60% of recent college graduates in the U.S. have held an internship during their college years, a rate that has doubled since the 1980s. (NACE)
- Internships are more common in fields closely tied to specific occupations and industries, reflecting the demand for experience. (CCWT – UW- Madison)
Compensation and Gender Disparities
- 76.4% of male interns are paid, compared to 51.5% of female interns. (NACE)
- The average hourly pay for interns ranges from $16.56 to $20.76. (Standout CV)
- 60.8% of internships were paid in 2019, but unpaid internships are common in social services. (Jobera)
- In San Francisco, interns earn an average of $26.64 per hour, the highest in the U.S.(Flair.hr)
- Paid interns are twice as likely to secure post-graduation employment as unpaid interns.(NACE)
- 81% of unpaid interns in the U.S. are women, contributing to a significant gender pay gap.(NACE)
Paid vs. unpaid internships
- The opportunity cost of unpaid internships is $12,986. (CNBC)
- Women comprise 81% of unpaid internships and 68% of paid internships. (NACE)
- Women are 77% more likely to have unpaid internships than men. (NACE)
- Around 38.3% of internships are paid, while approximately 61.7% are unpaid. (Standout CV)
- 40% of U.S. internships are unpaid, with up to 1.66 million unpaid interns in 2023. (Standout CV)
- Paid internships are 32% more likely to lead to full-time employment than unpaid ones (Standout CV)
- The national average hourly wage for paid interns is $20.76. (NACE)
- Full-time internships are more likely to be paid (71%) compared to part-time ones, where 74% are unpaid. (National Bureau of Economic Research)
- Paid internships are more prevalent in fields like Sales (72.4%), Architecture and Engineering (57.7%), and Construction (55.9%).
- Paid interns are more likely to receive full-time job offers and higher salaries than unpaid interns. (NACE)
- Estimated 4.1 million paid internships and 1.64 million unpaid ones in 2023. (Standout CV)
- Paid interns have double the likelihood of securing employment post-graduation. (Forage)
- In 2019, 60.8% of internships were paid; unpaid internships were more common in social services. (Jobera)
- 81% of unpaid interns in the U.S. are women, reflecting a gender pay gap in internship opportunities. (Standout CV)
- 32% greater chance of full-time job offers from paid internships than unpaid ones. (Standout CV)
- Financial services, accounting, and consumer goods account for 36% of internships. (Flair.hr)
- Financial services, at 19%, is the most popular industry for interns. Additionally, 67.15% of U.S. interns are white, while 81% of unpaid interns are women.
- Women account for 58% of U.S. interns, yet they are 77% more likely to undertake unpaid internships.
- 56.7% of paid internships are awarded to Black or African American interns.
- Globally, men tend to earn more in internships, averaging $83,676, compared to $76,272 for women. (Stanford Graduate School Of Business)
- Positive response rates from employers are approximately twice as high for unpaid internships (8%) compared to paid ones (4%).
Internship & COVID-19 Statistics
- 75% have made at least one change to their internship program. (CNBC)
- 20% of employers are decreasing the number of interns for onboarding. (Devin Peck)
- Companies expect to attend both in-person and virtual career fairs in 2020. (NACE)
- 85% of students will not include canceled internships in their resumes. (Yello)
- Online internships do not appear to solve the access and equity problem. (University of Wisconsin–Madison)
- A higher local unemployment rate correlates with a reduction in paid internships. (National Bureau of Economic Research)
- 1% increase in the unemployment rate, there’s about a 3% decrease in paid internship availability
- Future online internships must pay close attention to task design, supervision and communication. (National Science Foundation)
- Online interns in our sample tended to be continuing-generation, have higher GPAs, come from upper-income families, and were non-STEM majors. (University of Wisconsin Madison)
- Online interns report lower satisfaction, developmental value, 21st-century skills, professional network development, and high-skill tasks than in-person interns. (NACE)
- 70% of students whose internships were canceled due to the pandemic admitted to being disappointed but understood the need. (Jobera)
- 35% of students who took summer internships in 2020 were told they were going to be canceled. (PR web)
- 24% of students were informed that they were to undergo virtual internships instead.(Business Insider)
- 38% of college students weren’t planning on doing an internship in view of COVID-19. (Finance Online )
- 53.2% of graduating interns who applied for full-time positions got at least a single job offer. (Get Remotely)
- 21% of students say that the pandemic has rendered internships less important. (Finance Online)
- 37.6% of them say their internship did not push through as they were offered a new one. (Finance Online)
- Support services and training will need to be provided to many employers (and academic advisors) regarding how to design and implement an effective online internship. (University of Wisconsin Madison)
- Online internship networking platforms (OINPs) play an important role in the ecosystem of internship opportunities, but during the pandemic, student demand outstripped the supply of available positions. (NACE)
- Internship participation was low during the COVID-19 pandemic, with interns roughly split 50/50 between online and in-person modalities. (University of Wisconsin Madison)
- 2% of employers have reported revoking full-time offers made to candidates, but about 16% have reported revoking internship offers. (CNBC)
- An increase in the minimum wage also lowers the likelihood of internships being paid, with each $1 increase in the minimum wage correlating with a 4.6 percentage point drop in paid internship rates. (National Bureau of Economic Research)
Highest-Paying States For Interns
| Rank | State | Average Internship Salary | 10th Percentile | 90th Percentile |
|---|---|---|---|---|
| 1 | Alaska | $44,084 | $37,000 | $52,000 |
| 2 | Washington | $42,583 | $32,000 | $55,000 |
| 3 | Connecticut | $42,560 | $29,000 | $62,000 |
| 4 | California | $41,870 | $29,000 | $59,000 |
| 5 | Nevada | $39,649 | $28,000 | $55,000 |
| 6 | Rhode Island | $39,577 | $27,000 | $57,000 |
| 7 | Massachusetts | $39,441 | $27,000 | $56,000 |
| 8 | Colorado | $39,080 | $29,000 | $52,000 |
| 9 | North Dakota | $39,028 | $30,000 | $50,000 |
| 10 | New York | $38,599 | $26,000 | $57,000 |
| 11 | Oregon | $38,556 | $28,000 | $51,000 |
| 12 | Wyoming | $37,686 | $28,000 | $49,000 |
| 13 | Vermont | $37,631 | $28,000 | $50,000 |
| 14 | New Hampshire | $37,368 | $26,000 | $51,000 |
| 15 | Wisconsin | $36,925 | $27,000 | $49,000 |
| 16 | Minnesota | $36,739 | $28,000 | $48,000 |
| 17 | Pennsylvania | $35,873 | $24,000 | $52,000 |
| 18 | Arizona | $35,855 | $25,000 | $50,000 |
| 19 | Montana | $35,784 | $27,000 | $46,000 |
| 20 | Maryland | $35,534 | $24,000 | $51,000 |
| 21 | New Jersey | $35,397 | $24,000 | $52,000 |
| 22 | Hawaii | $35,038 | $26,000 | $46,000 |
| 23 | Georgia | $34,939 | $25,000 | $48,000 |
| 24 | Michigan | $34,919 | $25,000 | $48,000 |
| 25 | Illinois | $34,839 | $25,000 | $47,000 |
| 26 | Virginia | $34,636 | $24,000 | $49,000 |
| 27 | Maine | $34,598 | $26,000 | $45,000 |
| 28 | Ohio | $34,273 | $24,000 | $47,000 |
| 29 | Idaho | $34,250 | $25,000 | $45,000 |
| 30 | Nebraska | $33,719 | $25,000 | $45,000 |
| 31 | Texas | $33,570 | $23,000 | $47,000 |
| 32 | Missouri | $33,182 | $24,000 | $44,000 |
| 33 | Iowa | $32,963 | $24,000 | $43,000 |
| 34 | Utah | $32,927 | $24,000 | $43,000 |
| 35 | Indiana | $32,486 | $23,000 | $44,000 |
| 36 | North Carolina | $32,101 | $22,000 | $44,000 |
| 37 | Kentucky | $32,001 | $23,000 | $44,000 |
| 38 | Tennessee | $31,914 | $23,000 | $43,000 |
| 39 | Delaware | $31,773 | $21,000 | $46,000 |
| 40 | Arkansas | $31,500 | $23,000 | $42,000 |
| 41 | Florida | $31,385 | $21,000 | $45,000 |
| 42 | South Dakota | $31,204 | $23,000 | $41,000 |
| 43 | Oklahoma | $31,190 | $23,000 | $42,000 |
| 44 | West Virginia | $30,721 | $21,000 | $43,000 |
| 45 | Kansas | $30,656 | $22,000 | $41,000 |
| 46 | Mississippi | $29,297 | $21,000 | $40,000 |
| 47 | South Carolina | $28,391 | $20,000 | $39,000 |
| 48 | Alabama | $27,864 | $20,000 | $38,000 |
| 49 | New Mexico | $27,349 | $19,000 | $37,000 |
| 50 | Louisiana | $27,142 | $19,000 | $38,000 |
Intern base salaries by job
As per the report, the average base salary of an intern depends on their job functions but investment banking had the highest average base salary which is $ 30.61 per hour and goes up to $55 per hour.
Here is the complete list of the average base salary of interns based on their job functions.
| Job Function | Hourly Pay ($) | ||
| Lower | Mean | Upper | |
| Finance – Investment Banking | $10.00 | $30.61 | $55.00 |
| Accounting | $14.00 | $22.93 | $34.00 |
| Information Technology | $16.00 | $22.68 | $30.00 |
| Consulting | $15.00 | $22.01 | $36.06 |
| Finance | $11.50 | $20.72 | $36.06 |
| Operations/Production | $12.00 | $20.44 | $30.00 |
| Analytics | $13.00 | $20.01 | $35.06 |
| Other | $13.00 | $19.45 | $31.25 |
| Marketing/Sales | $11.50 | $18.51 | $26.00 |
| Logistics | $15.00 | $18.46 | $24.27 |
| Human Resources | $13.00 | $17.33 | $21.00 |
Internship Trends 2024
- Both interns and employers aspire to work in inclusive, diverse settings. (2022 internship).
- Choosing an internship is still mostly motivated by career progress. (Actual, 2022).
- College internship hiring is expected to remain stable, with many employers planning to maintain or increase their internship programs. (NACE)
- Management and Business Development roles dominate the landscape, making up 44% of internships, followed by engineering (20%) and media (18%) positions.
- The rise of startups has created numerous opportunities across various sectors, including fintech and health tech, providing interns with hands-on experience. (ICSS India)
- Approximately 48% of internships are now virtual, reflecting a trend towards remote work that began during the COVID-19 pandemic (NACE)
Sources
- Forbes. Getting An Internship Is More Competitive Than Ever—But The Experience Has ‘Really Eroded’
- Gallup. Four in 10 College Students Have Had Internship Experience
- National Association of Colleges and Employers. Position Statement: Unpaid Internships and the Need for Federal Action
- NACE. Executive Summary: 2023 Internship & Co-Op Report
- NACE. Intern Hiring Up More Than 9% for 2022-23 Academic Year
- NACE. NACE’s Guide to Internships
- NACE. More Than Half of College Class of 2023 Grads Took Part Internships—The Majority Were Paid
- NACE. The Class of 2023: Inequity Continues to Underpin Internship Participation and Pay Status
- NACE. 2022 NACE Internship & Co-op survey
- Some college internships pay twice what regular workers earn – CNBC
- Converting interns & co-ops into full-time hires on the rise – NACE
- CCWT National Survey of College Internships 2021 Report – CCWT (PDF)
- Internships – NACE
- Internship Statistics 2024 – Enterprise Apps Today
- US Internship Statistics and Facts – StandOut CV
- Intern & co-op hiring both down from last year – NACE
- Intern hiring projection jumps 22.6 percent; co-op hiring makes small gain – NACE
- Internship programs give employers long-term retention benefits – Allwork.Space
- Predicting interns’ intentions to convert – NACE
- The impact of early internships on career readiness – IECA
- Designing Internship Programs Report – CCWT (PDF)
- Why an internship program is important – Handshake Blog
- NACE Press – NACE
- Internship Statistics – Jobera
- The Class of 2023: Inequity continues to underpin internship participation and pay status – NACE
- Women are underrepresented among paid interns – NACE
- Here’s what an unpaid internship will cost you – CNBC
- Gender pay gap in internships – NBER (PDF)
- What internships reveal about the gender pay gap – Stanford GSB
- The use of and attendance in virtual career fairs climbs sharply – NACE
- Virtual internship statistics – Yello
- NSF Award ID 2032122 – NSF
- Study shows impact of pandemic on internships – NACE
- 35% of summer internships have already been canceled – PRWeb
- 35% of summer internships canceled – Business Insider Markets
- Internship statistics 2024 – GoRemotely
- How internships have been impacted by coronavirus – CNBC
Contents