Employers offer benefits to emerging talent
According to the National Associate of Colleges and Employers (NACE), the average hourly wage for bachelor’s-level interns from the class of 2020-2021 rose to $20.82.
“The average hourly wage for interns is the highest hourly wage that has been reported,” said Shawn VanDerziel, NACE’s executive director.
He made further comment: “Moreover, it is important to consider the context: The last two summers have been particularly challenging for employers as they grappled with managing their internship programs during a pandemic, but they wanted to remain competitive and raised wages. Our studies show that the market is hot right now for both full-time hires and interns. We expect that hourly wages for summer 2022 interns will reflect that.”
Many employers have reportedly also offered benefits to interns. Examples include planned social activities, offered by 79.0%, and paid holidays, provided by 55.1%. In addition, 23.2% offered their interns 401(k) plans.
VanDerziel said interns also receive work experience that can make them attractive to potential employers.
NACE reported nearly two-thirds of class of 2020 – 2021 interns’ time at work, 36.1%, was spent on a combination of analytical/problem-solving work and 27.3% on project management duties.
In a tight and talent scarce market, the ‘grow your own’ mentality is one that will not only support the retention of staff but will also ensure a solid talent pipeline for growing businesses.