We’re officially more than half-way through the month of August, which means most summer internships across America finished up last Friday. In the new-age boiler room environment that is cut-throat college academia, summer internships have major implications. Summer internships not only provide important experience before students even enter the workforce, they also tend to lead to full-time positions upon graduation. But based on information provided by Bloomberg, there’s another clear reason why vying for summer internships has become such a competitive market: THE GUAP IN THE SHOP.
Peep this chart, bruh:
HOLY FUCKING SCHNIKES, BATMAN. THAT’S A SHITLOAD OF MONEY.
Two quick observations:
#1) If all of these tech companies have the capability to dish out extravagant salaries to summer interns, the job market in the tech industry must be super healthy. This should be a serious sign of encouragement to all students/people pursuing careers in the tech industry. These tech companies clearly have the necessary dry powder to recruit and pay the “cream of the crop” within the talent pool, which will allow these firms to continue to expand and transform for years to come.
#2) If you extrapolate the monthly salaries depicted in the chart, you’ll see that some college students living in America are making the equivalent of fucking $108,000 per year! Even the lowest paying internship depicted in the chart would ultimately pay people $54,000 on an annual basis. That’s out of this world, son. Want to know what’s even more out of this world?
The median pay rate for Pinterest summer interns is more than DOUBLE the median income of the American household, which stands at approximately $53K in 2016.