Jobs are Everything to the Economy — Including Summer Internships

Jobs are everything to an economy. Period. Effective demand (the ability to pay) is derived from jobs.

Not all jobs are equal, however, when it comes to compensation. Short-term jobs pay less, correct? And summer internships, while important to acquire and develop work skills pay little, if at all – correct?

Not necessarily so. You might be amazed to learn that many summer internships for college students pay well. A Purdue University student completed a poll of almost 600 interns and new graduates regarding 2017 starting dates. He received back 298 responses from interns and 290 new graduates.

In alphabetical order, following are the 15 reported companies’ monthly salary, and in most circumstances, housing stipend. Note that most of these are technology or financial services companies.

3-28-17 table

 

No doubt these are highly competitive internships and are not representative of those typically available in 2017. The article does mention that interns at NBCUniversal make an average $10 per hour.

To read the entire article click http://www.cnbc.com/2017/03/27/what-interns-earn-at-major-companies.html?__source=newsletter%7Cmakeitweekly

In my opinion, more important than compensation for summer interns are the skill-set building opportunities that these individuals will be exposed to, making them so much more marketable in their careers.

When completing my Master’s degree in the 1970s, most in the Land Economics and Real Estate program completed summer internships. Mine was at an appraisal company. That summer, I completed appraisals ranging from simple houses, apartments, hotels, right-of-way acquisitions for pipelines and electric utilities, condemnation for roads, restaurants, offices, retail properties and even a potato chip factory.

I strongly encourage students to consider a summer internship in their field of endeavor – even if it is not the highest paying option available.

This summer Stewart is having an internship program in the Houston home office focusing on students from Rice University, University of Houston, and Houston Baptist University. Stewart’s Talent Acquisition Team has a goal of eight students in the 2017 program running from June 5th to August 11th.

What an opportunity internships are – both for the students and companies in attracting talent.

Ted

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