9 Vital Internship Statistics You Must Know [2024]

An internship is a fixed period of on-the-job work experience that an organization offers. On average, internships last between 10 to 12 weeks.   

Internships are becoming increasingly popular among people entering the job market. Students and graduates are looking to pick up skills and enhance their resumes. This article includes some key internship statistics to shed light on this vital facet of professional development.

Let’s dive into some key internship facts to help you understand their purpose, what people seek in them, and more! 

General Facts About Internships

Internships can enhance students' careers while they learn new skills. Whatever career goals you have in mind, whether you want to be an engineer, web designer, or freelancer, an internship can help.

With the internet awash with internship statistics, it's easy to understand what's trending and advantageous. Let’s take a look.

1. Completing an internship makes you 85% more likely to obtain employment following graduation.

(Prosperity for America.org & Standout-CV)

The logic behind this is simple. When students graduate, many will only have their degrees on their resumes. While having some practical work experience puts you ahead of these applicants, this results in students who complete internships increasing their post-graduation employment chances by 85%.  

2. Completing an internship can increase your job offers by 16%.

(What to Become)

A background check is essential for employers when considering potential candidates for a job. Completing an internship improves your chances of being hired after graduation and enhances the number of job offers you receive. Studies reveal that applicants with an internship on their resume receive an impressive 16% more proposals than those without one.

3. 85% of employers offer full-time jobs to successful interns.

(Nace Web)

For some, internships are opportunities to prove themselves and secure a job once they’ve proven their value to the company. Unpaid internship statistics show this to be a winning strategy. Recent statistics show that 85% of employers offer full-time jobs to successful interns.

4. COVID-19 caused 14.2% of students’ internships to go remote.

(Career Up)

The most recent internship statistics clearly show COVID-19’s impact. While over 37% canceled, many others went ahead, albeit augmented. In 2020, nearly 15% of students revealed that their summer internships transitioned remotely, and less than 5% interned in person.

Paid and Unpaid Internship Statistics

The internship serves as an evaluation period to ascertain whether the intern and the company are a good fit for each other. 

The legality of internships varies by country, but they are common both as paid and unpaid opportunities. Certain regions permit unpaid internships when specific criteria are fulfilled, while others require paying at least the minimum wage. Ensuring compliance with labor laws is crucial to guarantee fair treatment.

Statistics on unpaid and paid internships continue to help guide industry standards and set expectations. Take a look at these significant data points.

5. An estimated 500,000 Americans intern for free each year.

(What to Become) 

Internships are opportunities to build career skills, network, and add relevant experience to your resume. So, it’s unsurprising that many people are willing to intern for free. Approximately 500,000 US citizens intern without payment each year. While such internships can be valuable, plenty of companies are willing to pay, making them more accessible.

6. 60.8% of internships offer paid internships.

(Zippia)

Not only are there internships that pay, but one study found that over 60.8% offer some compensation. In contrast, 39.2% of internships are unpaid. Many companies that don’t pay interns provide them with social activities.

7. Institutions offering unpaid internships include non-profit organizations (54.7%), government agencies (22.7%), and for-profit organizations (about 23%)

(Center for Research on College-Workforce Transition)

Institutions offering unpaid internships often include non-profit organizations, representing 54.7% of companies that do not pay interns. Government agencies are the second-largest sector, accounting for 22.7% of employers not paying interns.

8. Major tech companies pay their interns between $7000 and $9000 monthly.

(Money)

Major tech companies often offer competitive pay. Stripe’s internship pay rate is $9,064 per month, while compensation at Roblox is $9,017, Meta is $8,160, and Amazon pays a median rate of $7,809. 

9. The average pay of interns in the US as of 2023 is $15.41 per hour.
(Zip Recruiter)

Hourly wages for interns can be as high as $29.57 or as low as $5.77. Most interns earn hourly wages ranging from $12.02 to $17.55 across the United States. Interns' average pay varies considerably based on skill level, location, and years of experience.

Wrap-Up

If one thing is for sure, many circumstances accompany internships. There’s little regulation in this area of professionalism, so the offerings from different companies can vary greatly. 

Whether you dream of getting into a prestigious company or target freelancing opportunities, internships will significantly enhance and develop your skills as a worker.

These internship statistics will help guide you on what perks to look for and whether an unpaid internship is feasible. Keep searching until you find the one that best fits you!