Online payment processor Stripe will compensate interns the most this year, with an average monthly internship salary of over $9,000 per month, according to a report from jobs data site Glassdoor. Stripe took the top spot from online gaming platform Roblox, which had the highest-paying internship in 2022.
The data, released Tuesday, aggregated salary reports from current and former U.S.-based interns between March 1, 2022 and Feb. 28, 2023 to find the 25 highest intern payers. Only companies that had 30 or more interns report their salaries on Glassdoor were considered.
The results come as companies across industries, but especially tech, respond to high costs and other macro woes by cutting full-time jobs. Organizations like Stripe and Meta have both made headlines for slashing their workforces, but they are still paying a premium for intern talent, landing in the top five of Glassdoor's list. All 10 of the highest-paying internships are in either tech or finance.
Here are the 10 highest-paying internships of 2023, according to Glassdoor:
1. Stripe
- Industry: Tech
- Median Monthly Pay: $9,064
2. Roblox
- Industry: Tech
- Median Monthly Pay: $9,017
3. NVIDIA
- Industry: Tech
- Median Monthly Pay: $8,280
4. Coinbase
- Industry: Tech
- Median Monthly Pay: $8,206
5. Meta
- Industry: Tech
- Median Monthly Pay: $8,160
6. Capital One
- Industry: Finance
- Median Monthly Pay: $8,050
7. Credit Suisse
- Industry: Finance
- Median Monthly Pay: $7,947
8. Bain & Company
- Industry: Finance
- Median Monthly Pay: $7,873
9. Amazon
- Industry: Tech
- Median Monthly Pay: $7,809
10. EY-Parthenon
- Industry: Finance
- Median Monthly Pay: $7,651
Given the tenuous job market and overall economic environment, Glassdoor's research also rates the companies on their business outlook, which was calculated based on aggregated comments from employees on Glassdoor. The company's business outlook can help a prospective intern gauge whether that organization will be a potential employer in the long-term.
The report found that the highest-paying intern employers did not necessarily correspond with the top-rated business outlook.
"Just because a company pays interns highly does not mean it's necessarily high performing — the positive business outlook rating can signal whether a company is likely to be hiring in the near future," Glassdoor's Lead Economist Daniel Zhao tells CNBC Make It.
For example, Stripe, Meta and Coinbase have the lowest outlook ratings of the top 10 despite paying their interns some of the top salaries. NVIDIA had the highest business outlook rating of the highest-paying internships.
Glassdoor's study also shows that the highest paying internship is paying less than the biggest salary last year. Stripe secured the number one spot with an average monthly salary of $9,064, slightly lower than the 2022 top salary, which was $9,667 at Roblox.
"2022 was an exceptionally hot labor market. As we head into 2023, companies are pulling back on budgets in anticipation of a possible recession, so it's no surprise that we've seen wages tamp down slightly as competition for talent cools off," says Zhao.
However, on the whole, the most lucrative internships are paying more than last year. The average of the top 10 highest payers of 2023 is roughly $8,206, up from an average of $8,100 last year.
"In a tough economic climate like we're experiencing now, it's not uncommon to see internship programs get paused or slimmed down in order for companies to cut costs," says Zhao. "However, some companies will continue to invest in interns even in bad times as a way to continue nurturing the next-generation talent pipeline at the company."
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