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Well-Paid Internships - 5/12/16

Remember when we were young and looked forward to those summer unpaid internships.  The goal was to make connections, to learn a business, and to add to our resume.  Internships still exist of course, but in many instances, they are very well paid. 

Based on a recent survey received featured in a Bloomberg article, the median monthly base salary for an engineering focused summer intern at some of the nation’s large technology companies is nearly seven thousand dollars. 

Annualized, that’s more than eighty thousand dollars well above the national wage index of forty six thousand five hundred dollars according to data most recently compiled by the Social Security Administration in twenty fourteen. 

In other words, this summer, many of us will be earning less than interns.  At Pinterest, an online bookmarking platform based in San Francisco, interns can expect to haul in nine thousand dollars per month. 

At Tesla Motors, summer interns will receive a bit less than five thousand dollars.  But beyond cash compensation, there are also travel stipends and housing allowances. 

Twitch, a live streaming video platform also based in San Francisco, offers more than ten thousand dollars in such benefits.  Google, Amazon, and Twitter also offer significant benefits for interns.  

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.