The amount paid to interns these days is variable and dependent on different factors such as location and the company they are working for. A recent report by Glassdoor has shown that some interns are earning as much as Rs 7 lakhs per month. However, it is important to note that this amount may not be the same for all regions and companies.
On Twitter, there is currently a lot of discussion about the salaries of freshers in India. Some users are sharing their experiences of struggling to survive on a monthly salary of Rs 20,000 in metro cities, while others are expressing disappointment at their low income despite years of experience.
However, the topic of interns is being overlooked, as they are perceived to either receive low salaries or no salaries at all. But it might come as a surprise that some interns are actually earning as much as Rs 7 lakhs per month, which is a significant amount.
It may seem unbelievable, but it’s true. There are companies that are actually paying an average salary of almost Rs 7 lakhs per month for internships. What’s more surprising is that the list is dominated by big tech companies such as Amazon, Microsoft, and Meta, who are currently laying off employees to reduce costs during economic crises. However, this information is supported by a recent report from Glassdoor on the highest-paying internships.
Glassdoor, a website that enables employees to anonymously rate their employers, has recently published a list of ‘The 25 highest-paying internships of 2023’. Stripe, a global digital payment company, is reportedly offering the highest-paying internships this year, with interns earning an average monthly salary of $9,064 (approximately Rs 7.40 lakh) for a 40-hour work week.
While this figure equates to more than $100,000 per year (around Rs 8177000), it is important to note that the pay is for interns based in the United States, and comparing it to the pay scale in India would be unfair. It is worth noting, however, that the pay scale for internships in India varies greatly.
According to Glassdoor, tech companies like Meta, Snap, TikTok, Stripe, Coinbase, Amazon, and Microsoft are the top-paying companies for interns. These companies have also undergone layoffs in the recent past. Glassdoor has acknowledged that while they cannot guarantee that all of these companies are hiring interns this summer, they have a reputation for paying their interns well.
List of top 10 companies offering highest-paying internships in 2023
- Stripe pays an average $9,064 monthly i.e Rs 7.4 lakh.
- Roblox: $9,017- Rs 7.4 lakh
- NVIDIA: $8,280- Rs 6.7 lakh
- Coinbase: $8,206- Rs 6.7 lakh
- Meta: $8,160- Rs 6.6 lakh
- Capital One: $8,050- Rs 6.6 lakh
- Credit Suisse: $7,947- Rs 6.5 lakh
- Bain & Co.: $7,873 – Rs 6.4 lakh
- Amazon: $7,809- Rs 6.4 lakh
- EY-Parthenon: $7,651- Rs 6.2 lakh
Glassdoor has reported that the top-paying internship in 2023 is at Stripe, with an average monthly salary of $9,064, which is slightly lower than the highest salary in 2022, at $9,667 offered by Roblox. However, the top 10 highest-paying internships in 2023 have an average pay of $8,206, which is higher than the average pay of $8,100 in 2022.
Glassdoor’s Lead Economist, Daniel Zhao, told CNBC that during an economic downturn, it’s common for companies to cut costs by either slimming down or halting their internship programs. However, some companies still prioritize investing in interns as a way to cultivate the next generation of talent for the company.